BioForce Nanosciences Applauds Research Stimulus and Reversal of Ban on Stem Cell Funding
March 09 2009 - 11:41AM
Marketwired
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(TM) 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(TM) 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.
Contacts: Company Contact Gregory D. Brown Chief Financial
Officer 515-233-8333 ext# 118 Email Contact Investor Relations Yes
International Rich Kaiser 800-631-8127
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