SANTA ANA, Calif., Oct. 6, 2011 /PRNewswire/ -- SUTIMCo
International, Inc. (Pink Sheets: SUTI) The National Science
Foundation (NSF) has awarded a $50,000 grant to help fund product development
for CapWave Sensors, Inc. and Phasiks, Inc. as the two companies
collaborate on a portable device for food safety testing.
The collaboration is the first of several joint ventures planned
by CapWave to accelerate time to market for its medical testing
devices. The NSF grant award will fund the development of
Phasiks' thermal control units within CapWave's biosensor
immunoassay platform for medical testing.
"This award combines two enabling technologies to create an
innovative path forward," said CapWave Vice President of Business
Development Ed Ellsworth. "The
Phasiks thermal phase control technology eliminates the need for
moving parts to transfer reagents in the cartridge, which increases
the reliability and durability of the CapWave device."
CapWave's portable testing device is in development at a time of
heightened market awareness of food safety by consumers, food
suppliers and retailers due to the recent outbreaks of illness
which has resulted in 18 deaths and 100 sick from the listeria
found in cantaloupes grown at Jensen Farms in Colorado.
Recently, Cargill has recalled over 36 million pounds of turkey
due to salmonella; Costco has required its suppliers to test for E.
coli and Fresh & Easy has recalled spinach in California and Arizona due to listeria. CapWave's food
safety testing device will offer tests for E. coli, salmonella,
listeria and campylobacter.
The high sensitivity of the CapWave device cuts incubation time
to reduce sample prep and result times while increasing accuracy
and reliability. The technology utilizes state-of-the-art
biosensors to detect pathogens and bacteria held in small
capillaries. The smaller size accelerates the reaction
kinetics in the capillary to produce results quickly.
CapWave's initial efforts are directed at developing a device
for food safety testing. Product opportunities for in vitro
diagnostics and the veterinary market are also being evaluated.
CapWave Sensors Inc. recently signed a new Venture Accelerator
Agreement with SUTIMCo International Inc., a holding company which
implements a market-tested platform to launch businesses based on
new technology research discoveries at world-class universities.
SUTIMCo International, through its wholly owned subsidiary
SUTIMCo Inc., provides experienced management to early stage
companies, reducing risk and assuring the expertise needed to
launch and grow a new enterprise. SUTIMCo also avails itself
of the encyclopedic knowledge of the technology inventor, her
experience and her research team. The CapWave technology
utilizing the latest research in biosensors and evanescent wave
theory was invented by Professor Omowunmi
Sadik at Binghamton
University, State University of New
York.
For more information on SUTIMCo, its portfolio companies, and
university partners, please visit; www.suti.com.
For more information on CapWave Sensors, please visit;
www.capwavesensors.com.
About SUTIMCo International, Inc.:
SUTIMCo International Inc. is a holding company, which utilizes
a unique and established platform to launch new technology
enterprises based on world-class university research discoveries.
SUTIMCo International through its wholly owned subsidiary SUTIMCo,
Inc., provides experienced management to early stage companies,
reducing risk and assuring the know-how in launching and growing a
new company. In addition to this skilled management team, SUTIMCo
can avail itself of the encyclopedic, informal knowledge of the
inventor, his experience and his research team.
Safe Harbor: Statements regarding financial matters in this
press release other than historical facts are "forward-looking
statements" within the meaning of section 27A of the Securities Act
of 1933, Section 21E of the Securities Exchange Act of 1934, and as
that term is defined in the Private Securities Litigation Reform
Act of 1995. The Company intends that such statements about the
Company's future expectations, including future revenues and
earnings, technology efficacy and all other forward-looking
statements be subject to the safe harbors created thereby. The
Company is a development stage company who continues to be
dependent upon outside capital to sustain its existence. Since
these statements (future operational results and sales) involve
risks and uncertainties and are subject to change at any time, the
Company's actual results may differ materially from expected
results.
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SOURCE SUTIMCo International, Inc.