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