COLUMBUS, Ohio and PITTSBURGH, Nov. 1 /PRNewswire/ -- Two emerging nanotechnology companies announced a broad cross-licensing agreement that will extend the market reach and technical utility of their fluorescent biomolecular assaying platforms. BioCrystal Ltd., based in Columbus, Ohio, and Crystalplex Corp., based in Pittsburgh, Pa., also said they agreed to collaborate on the development of novel products using the proprietary technologies of each company. The agreement also provides for possible joint product distribution. The agreement combines highly complementary technologies for producing fluorescent semiconducting nanocrystals and nanobeads, which are gaining increasing use in the detection of low-abundance molecules in biological research and clinical diagnosis. In particular, BioCrystal provided Crystalplex with a non-exclusive worldwide license to its intellectual property related to nanocrystal-encoded beads and a nanocrystal-enhanced filter set for microscopy applications. BioCrystal will also allow Crystalplex to use non-water-soluble nanocrystals for encoding into Crystalplex's PlxBead products and its water-soluble nanocrystals products for sale with Crystalplex PlxBeads. Crystalplex provided BioCrystal with a nonexclusive worldwide sublicense to its alloyed nanocrystal technology licensed from Indiana University. "Crystalplex is delighted to forge a working relationship with such a strong technology leader," said Alan R. Seadler, Ph.D., president and CEO of Crystalplex. "This collaboration will have a major impact on the future of fluorescent nanocrystals as platforms for highly multiplexed and ultra- sensitive molecular detection." "Crystalplex has a clear vision of what it expects to accomplish with its bead-based technology," said Jeffrey R. Bergen, president and CEO of BioCrystal. "We are pleased to have this opportunity to broaden biological and clinical applications for fluorescent nanocrystal products." About Crystalplex Corp. ( http://crystalplex.com ) Crystalplex is an early stage company providing cutting-edge, bead-based nanotechnology "PlxBeads" to the biomedical research and medical diagnostic markets. Plxbeads can be used as "molecular barcodes" to monitor complex biological processes in pharmaceutical research or as nanosensors reporting diagnostic results for complex diseases. Crystalplex products will provide test results from smaller samples and with reduced time, lower labor costs, and less expensive instrumentation than currently possible while also providing better results for drug discovery or diagnostic decision making. Crystalplex was founded by LaunchCyte LLC and has been funded by private investors as well as Innovation Works, the Pittsburgh Life Sciences Greenhouse, and the University of Pittsburgh Medical Center. About BioCrystal, Ltd. (( http://www.biocrystal.com ) Formed in 1996, BioCrystal, Ltd., brought together an interdisciplinary science group into a business structure committed to the development of novel products and procedures for applications in the life sciences and clinical medicine. Funded by private investment sources in Columbus, Ohio, BioCrystal has created a vital, high technology business environment in which products are being developed for commercialization in three areas: semiconductor-based, nanocrystalline fluorescent markers (BioPixels(TM)) for cell and intracellular detection and analysis; therapeutic compounds and procedures for the diagnosis and treatment of cancer; and OptiCell (R), a versatile, disposable tool for broad use in cell and tissue culture. BioCrystal has 36 patents and allowed patent applications in the three technology areas.
SOURCE Crystalplex Corp.