WEST PALM BEACH, Fla., Sept. 5 /PRNewswire-FirstCall/ -- IQ Micro Inc. (OTC Pink Sheets: IQMC - News), the exclusive licensor of micro-pumps required in the rapidly emerging field of microfluidic technology, announced today the successful completion of an important micro-fabricating program conducted by the Centre Suisse d'Electronique et de Microtechnique SA (CSEM) in Switzerland.
This technical breakthrough is significant because microchips containing thousands of invisible pumps can now be mass produced for a wide range of applications including lab-on-chip technology used to perform high-speed medical analysis.
Johnny Christiansen, president and CEO of IQ Micro said, "This success of our micro-fabricating program represents a major achievement for our company. To our knowledge this is a first in our industry. As a result, we are taking the necessary steps to protect this exciting, new technology. With a proven ability to micro-fabricate thousands of our "Invisible Pumps" on a single micro-chip, the mass production of complex microfluidic systems has been significantly simplified. We intend to proceed as quickly as possible to exploit this competitive advantage by entering into licensing arrangements involving multiple applications of this technology."
The rapidly emerging microfluidic industry has developed from the microchip industry. However, as opposed to the flow of electrical current through a silicon chip, microfluidic technology involves circuits of tiny chambers, channels and pumps that direct the flow of liquids on a single micro-chip. There are literally thousands of potential applications representing potentially billions of dollars in business. These include disease diagnostics, lab-on-a-chip technology, flat screen displays, electronics cooling, micro fuel cells, glucose monitoring and manufacturing process control, automated DNA analysis, drug development, enhanced battery life span and medical diagnostics.
About IQ Micro
IQ Micro Inc. is an international licensing company formed in July of 2005 to commercialize proprietary technology developed for use in the microfluidics industry. The company has acquired exclusive sales and marketing licensing rights to the technology developed and patented by the Norwegian company Osmotex. As part of the worldwide licensing agreement, Osmotex has secured an 85% ownership position in IQ Micro. The company is actively pursuing global licensing opportunities for the patented "Invisible Pump," a microfluidic technology with a wide range of consumer, medical and industrial applications. IQ Micro intends to become the leading global specialized supplier of low- voltage microfluidic technology.
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This release contains various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended which represent the company's expectations or beliefs concerning future events of the company's financial performance. These forward-looking statements are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. The words "may," "could," "should," "believe," "anticipate," "estimate," "expect," "intend," "plan" and similar words are intended to identify forward-looking statements. These factors include the effect of competitive pricing, the company's dependence on the ability of third-party manufacturers to produce components on a basis which is cost-effective to the company, our ability to protect our intellectual property rights from infringement by third parties, our ability to convert our intellectual property rights into product offerings that are accepted by the market, the development of competitors of intellectual property and associated products that are superior to ours or that gain better market acceptance than ours and the ability of our intellectual property rights to keep pace with the advances in technology, market acceptance of the company's products and licensing rights, the effects of government regulation and other factors. Results actually achieved may differ materially from expected results included in these statements. The company is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. Furthermore, this company cautions that the risk factors listed in this paragraph are not exhaustive.
Source: IQ Micro Inc.