NVE Notified of Biosensor Patent Grant

Apr 05, 2005, 01:00 ET from NVE Corporation

    EDEN PRAIRIE, Minn., April 5 /PRNewswire-FirstCall/ -- NVE Corporation
 (Nasdaq:   NVEC) said today that it has been notified by the U. S. Patent and
 Trademark Office of the expected grant of a key biosensor patent.  NVE has
 been notified that the patent, titled "Magnetizable Bead Detector," will be
 issued today.  The patent relates to the detection of magnetizable beads in
 connection with biological and chemical assays.  The patent is number
 6,875,621 and is the grant of the application published by the U. S. Patent
 and Trademark Office under number 2002-0060565.
     Detection of magnetizable beads is a key element of proposed
 "laboratory-on-a-chip" systems.  In such systems, a magnetic biological marker
 nano-bead adheres to the immobilization surface when a targeted biological
 agent is present.  A spintronic sensor detects a very small perturbation in
 the magnetic field caused by adhering beads.  This field perturbation is used
 to detect and quantify the presence of even very low levels of biological or
 chemical materials such as pathogens.
     The company's goal is to provide disposable nanosensor elements for
 hand-held devices that will provide biomedical test results in minutes rather
 than hours or days.  The market for biomedical nanosensors is expected to
 reach approximately $800 million in 2008, while the market for nanosensors for
 military and homeland defense applications is projected to reach $827 million,
 according to NanoMarkets, LC, an industry analyst firm.
     In December 2004 NVE announced that it had successfully demonstrated
 prototypes using magnetizable bead detectors under the Defense Advanced
 Research Projects Agency (DARPA) Bio-Magnetic Interfacing Concepts
 (BioMagnetICs) Program.  NVE is currently under contract with DARPA to develop
 a high-volume nanotechnology fabrication process for magnetizable bead
 detectors using its patented spintronic structures.
     "This is an important patent for NVE," commented NVE President and Chief
 Executive Officer Daniel A. Baker, Ph.D.  "Together with our other patents,
 including U. S. patent number 6,743,639 which was issued in June 2004, we have
 a strong intellectual property position in the biosensor space."
     Links to the new patent as well as NVE's other U. S. patents can be found
 at the "company information" section of NVE's website ( http://www.nve.com ).
     NVE is a leader in the practical commercialization of spintronics, a
 nanotechnology that many experts believe represents the next generation of
 microelectronics.  NVE licenses its MRAM intellectual property and sells
 spintronic products, including sensors and couplers, to revolutionize data
 sensing and transmission.
     Statements used in this press release that relate to future plans, events,
 financial results or performance are forward-looking statements that are
 subject to certain risks and uncertainties including, among others, such
 factors as uncertainties related to the awarding of future government
 contracts, risks in the enforcement of our patents, risks associated with our
 reliance on several large customers, as well as the risk factors listed from
 time to time in our filings with the SEC, including our Annual Report on Form
 10-KSB and other reports filed with the SEC.

SOURCE NVE Corporation