AMES, IA--(Marketwire - March 09, 2009) - BioForce Nanosciences Holdings, Inc. (OTCBB: BFNH), a producer of products and solutions for academic researchers and
commercial users based upon its ultra-micro to nano scale fluid deposition
platform, announced today its appreciation of the Obama administration's
strong support of the research community. Beyond the near-term benefits to
academic scientists and the long-term effects on human health, it is
expected that recent federal policies will have a positive effect on
BioForce's revenues and create economic stimulus throughout the scientific
research community.
The passage of the American Recovery and Reinvestment Act included $10.4
billion of stimulus for the National Institutes of Health ("NIH") and $3
billion for the National Science Foundation ("NSF"). These funds will
quickly reverse five years of nearly flat science funding and steadily
declining grant application success rates. A stated priority will be the
fulfillment of the 14,000 NIH grant applications which were deemed
meritorious in 2008, yet remained unfunded. The NSF has a similar backlog
of $2 billion in grants that were awarded but not funded.
BioForce's Product Manager, Michael Lynch, said, "The impact of this
funding cannot be overstated. Many of our academic and other prospective
customers have been waiting anxiously for their grants to be funded so that
they might pursue their exciting research. They will be the direct
beneficiaries of the stimulus, but the broader benefits will certainly
extend to companies like BioForce who supply the equipment and consumables
needed to perform cutting edge scientific research at an ultra-micro to
nano scale."
In addition, President Obama today signed an executive order reversing the
Bush administration's ban on federal research funding for embryonic stem
cells derived after August 9, 2001. Because of the previous restrictions,
researchers have focused their efforts on adult stem cells. While some
impressive advances were made with adult stem cells, those adult stem cells
are much more limited than embryonic stem cells in terms of their ability
to be used as the basis for development of new therapies.
Under the new policy, researchers will become eligible to receive federal
grant funding to isolate new embryonic cell lines and develop them into
therapies for diabetes, Parkinson's disease, spinal cord injuries, organ
failure and more. One tool that has been gaining momentum within the stem
cell research community is the BioForce Nano eNabler™ molecular printing
system The Nano eNabler is used by stem cell researchers to create
micro-patterned surfaces, with those surfaces serving as the biologically
active environment used for the study of differentiation of individual stem
cells. Additionally, stem cell researchers use the Nano eNabler system to
print the bio-molecular scaffolds needed to direct the growth of
vasculature in engineered tissues and organs.
Kerry Frey, BioForce's CEO, commented, "This policy change, coupled with
the injection of stimulus funding needed to purchase new equipment such as
the Nano eNabler, will put American scientists back on a level playing
field with the rest of the world regarding scientific discovery, including
harnessing the life-changing potential of stem cells. The Nano eNabler
system, with its ability to deposit biologically active materials at an
ultra-micro to nano scale, is a item that is a significant part of the tool
kit which will allow researchers to develop new and innovative therapies
based upon stem cells and other cell lines by working at this
ultra-miniaturized size scale. BioForce will proudly continue to engage
and support our growing community of Nano eNabler users as they expand the
frontiers of this critical research."
For further information about this release please contact Greg Brown, Chief
Financial Officer of BioForce at (515) 233-8333 ext. 118, or Rich Kaiser,
Investor Relations at (800) 631-8127.
About BioForce Nanosciences Holdings, Inc.
BioForce Nanosciences produces products and solutions for academic
researchers and industrial companies based upon its ultra-micro to nano
scale fluid deposition platform. BioForce's flagship product, the Nano eNabler™
molecular printer, gives the Company and its customers a platform for
development and discovery by printing tiny domains of biological materials
on surfaces with nanometer spatial precision. BioForce technology is being
used in areas such as biosensor
functionalization; patterning and cell
adhesion; and the printing of proteins to direct stem cell
differentiation. For more information, visit www.bioforcenano.com or call
515-233-8333.
This news release contains forward-looking information that may be affected
by certain risks and uncertainties, including those risks and uncertainties
described in BioForce Nanosciences' most recent filings with the Securities
and Exchange Commission. BioForce Nanosciences' actual results could differ
materially from such forward-looking statements. BioForce assumes no duty
to update these statements at any future date.
