Nanosys Awarded $8.2 Million Sub-Contract to Develop Nanotechnology-Enabled Systems for the U.S. Government

Oct 04, 2004, 01:00 ET from Nanosys, Inc.

    PALO ALTO, Calif., Oct. 4 /PRNewswire/ -- Nanosys, Inc. announced today
 that it has signed an $8.2 million sub-contract awarded by Science
 Applications International Corporation (SAIC) to develop undisclosed sub-
 system components based on their proprietary nanotechnology platform for use
 in systems for the U.S. Government.  Under this contract, Nanosys will receive
 $1.5 million of funding over the first 12 months of the program, with an
 additional $6.7 million available over the remaining four years of the
 contract based upon the availability of government funding and the achievement
 of milestones.  Further details of the program were not disclosed.  Nanosys
 and SAIC previously announced an agreement to market each other's capabilities
 to their customers.
     "Our collaboration with SAIC has exceeded our expectations," said Calvin
 Chow, chief executive officer at Nanosys.  "While we are developing products
 and technologies for commercial applications; these same components can be
 extremely valuable in government systems and provide synergy in our
 development efforts.  Our collaboration with SAIC helps us to understand the
 specific needs of the U.S. government and offer nanotechnology enabled
 solutions with systems integration and support."
     About SAIC
     SAIC is the largest employee-owned research and engineering company in the
 United States, providing information technology, systems integration and
 eSolutions to commercial and government customers.  SAIC engineers and
 scientists work to solve complex technical problems in national and homeland
 security, energy, the environment, space, telecommunications, health care and
 logistics.  With annual revenues of $6.7 billion, SAIC and its subsidiaries,
 including Telcordia Technologies, have more than 44,000 employees at offices
 in more than 150 cities worldwide.  More information about SAIC can be found
     About Nanosys
     Nanosys, Inc. is a leader in the development of nanotechnology based
 products utilizing high performance inorganic nanostructures.  Nanosys has
 built one of the broadest technology platforms in the industry with more than
 250 patents and patent applications covering fundamental areas of
 nanotechnology.  Based in Palo Alto, Calif. and privately held, Nanosys
 collaborates with industry leaders including Dupont, Intel, Matsushita
 Electric Works and SAIC to develop revolutionary high-value, high-performance
 products for computing, optoelectronics, communications, energy, defense and
 the life and physical sciences.  Additional information about Nanosys can be
 found at
      Peter Garcia
      Chief Financial Officer
      Nanosys, Inc.
      (650) 331-2154

SOURCE Nanosys, Inc.