Dynasil Begins Operations With New Technologies

WATERTOWN, Mass.--(BUSINESS WIRE)--Dynasil Corporation of America (NASDAQ: DYSL) today announced the incorporation of a new business unit to pursue opportunities in the biomedical field. Dynasil Biomedical Corp. is located in Rochester, MN and Dr. Daniel Ericson has joined Dynasil Biomedical as Scientific Lead with responsibility for research and development. Dynasil Biomedical completed the purchase of Dr. Ericson’s rights to six biomedical technologies invented or co-invented by him for a purchase price of $300,000, together with certain rights to royalty and milestone payments if these technologies are successfully developed. He previously worked at Mayo Clinic and several of the assigned technologies are jointly owned with that institution. Additionally, he invented several medical technologies which are in commercial use or being developed for commercial use by unrelated parties.