Hey Scott, why don't you read the updates from the
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Posted On: 02/16/2018 10:45:58 AM
Re: mitstevfel #4345
Hey Scott, why don't you read the updates from the company I pasted below. Clearly BB indicates plans for production capacity increases in the Dec 2016 update, and in the June update, last para says they need funding for development, which likely includes production capacity as described in Dec 2016 update.
June 1, 2017
NanoLogix TB Detection Technology Use on Africa Project Increases
NanoLogix is pleased to announce that this week they shipped a new order for their TB Diagnostic test kits for use on an Africa research project funded by the National Institutes of Health, (NIH) the National Institute of Allergies and Infectious Diseases (NIAID) and the Bill and Melinda Gates Foundation, with other funding from US and foreign Government agencies.
This is the third order since April on the Africa Project. NanoLogix was informed that in addition to the two sizes of kits sold in this order (150 mm and 100 mm), NanoLogix should prepare to supply two additional sizes of TB detection kits and also to significantly scale up TB kit production to satisfy projected needs.
For reference from an earlier update: "The technology used in the NanoLogix TB Test Kit is our BNP sandwiched-membrane technology. The use of the TB kit is to provide evidence of the presence of active (live) TB bacteria in a patient sample in 4-6 days rather than 3-5 weeks or more. The results from the NanoLogix TB tests are then processed through PCR (DNA testing) and other means to further define the identity of the TB. The original research paper citing the detection results and potential of pairing the NanoLogix technology with other technologies is available through this link:
https://www.omicsonline.org/1948-5948/JMBT-04...4-147.html
Related to this work, NanoLogix has received a request to pursue development of an N-Assay modified ELISA for detection and identification of TB. We will be doing so upon receipt of sufficient funding for that goal."
Dec. 20, 2016
NanoLogix is pleased to announce the following Update:
The Company has narrowed its selection of buildings to use as a larger production facility in northeast Ohio. Two existing buildings are now under consideration to house NanoLogix production for both petri plates and for production of the new N-Assay ELISA-based rapid bacteria diagnostic. The projected expenditure for establishing N-Assay production and increasing petri plate production is roughly $900,000 for production equipment, $125,000 for the construction of two separate 70' X 30' production cleanrooms, and $40,000 for additional equipment such as forklifts.
This expansion is projected to result in market share increase for petri plate sales due to markedly improved economies of scale, and position NanoLogix with a significant production capability for the new N-Assay modified ELISA comprehensive bacteria diagnostic kit. The Company expects the expansion will result in ten additional jobs starting with the delivery and setup of the production equipment in 2017 and another ten positions upon expansion of N-Assay sales.
Over the coming six months we expect to finance the expansion through a combination of increasing revenue from sales of both product lines and fundraising through our current SEC Regulation D, Rule 506 offering for private placement sales of shares.
Any share issuance financing for this expansion is being structured primarily, but not solely, through a series of equity tranches and stock warrants. Using this method, the Company hopes to keep stock dilution to a minimum and will proceed with the interests of the shareholders in mind, including extending the timeline for expansion as necessary if equity costs are not favorable to NanoLogix.
The Company is preparing to seek licensees in Europe and Hong Kong for production of FlatPack Petri Plates under the recent EU FlatPack patent approval.
In response to queries coming to our office regarding our customization of the N-Assay for a multibillion medical technology company: we have sold 600+ of the N-Assay to them and will be supplying more in addition to further customization for other bacteria in 2017. As our arrangement with the client is CONFIDENTIAL, we will not be releasing their name.
Merry Christmas from Carol, Debby, Kim, Travis, Bret and all
Dec. 6, 2016
June 1, 2017
NanoLogix TB Detection Technology Use on Africa Project Increases
NanoLogix is pleased to announce that this week they shipped a new order for their TB Diagnostic test kits for use on an Africa research project funded by the National Institutes of Health, (NIH) the National Institute of Allergies and Infectious Diseases (NIAID) and the Bill and Melinda Gates Foundation, with other funding from US and foreign Government agencies.
This is the third order since April on the Africa Project. NanoLogix was informed that in addition to the two sizes of kits sold in this order (150 mm and 100 mm), NanoLogix should prepare to supply two additional sizes of TB detection kits and also to significantly scale up TB kit production to satisfy projected needs.
For reference from an earlier update: "The technology used in the NanoLogix TB Test Kit is our BNP sandwiched-membrane technology. The use of the TB kit is to provide evidence of the presence of active (live) TB bacteria in a patient sample in 4-6 days rather than 3-5 weeks or more. The results from the NanoLogix TB tests are then processed through PCR (DNA testing) and other means to further define the identity of the TB. The original research paper citing the detection results and potential of pairing the NanoLogix technology with other technologies is available through this link:
https://www.omicsonline.org/1948-5948/JMBT-04...4-147.html
Related to this work, NanoLogix has received a request to pursue development of an N-Assay modified ELISA for detection and identification of TB. We will be doing so upon receipt of sufficient funding for that goal."
Dec. 20, 2016
NanoLogix is pleased to announce the following Update:
The Company has narrowed its selection of buildings to use as a larger production facility in northeast Ohio. Two existing buildings are now under consideration to house NanoLogix production for both petri plates and for production of the new N-Assay ELISA-based rapid bacteria diagnostic. The projected expenditure for establishing N-Assay production and increasing petri plate production is roughly $900,000 for production equipment, $125,000 for the construction of two separate 70' X 30' production cleanrooms, and $40,000 for additional equipment such as forklifts.
This expansion is projected to result in market share increase for petri plate sales due to markedly improved economies of scale, and position NanoLogix with a significant production capability for the new N-Assay modified ELISA comprehensive bacteria diagnostic kit. The Company expects the expansion will result in ten additional jobs starting with the delivery and setup of the production equipment in 2017 and another ten positions upon expansion of N-Assay sales.
Over the coming six months we expect to finance the expansion through a combination of increasing revenue from sales of both product lines and fundraising through our current SEC Regulation D, Rule 506 offering for private placement sales of shares.
Any share issuance financing for this expansion is being structured primarily, but not solely, through a series of equity tranches and stock warrants. Using this method, the Company hopes to keep stock dilution to a minimum and will proceed with the interests of the shareholders in mind, including extending the timeline for expansion as necessary if equity costs are not favorable to NanoLogix.
The Company is preparing to seek licensees in Europe and Hong Kong for production of FlatPack Petri Plates under the recent EU FlatPack patent approval.
In response to queries coming to our office regarding our customization of the N-Assay for a multibillion medical technology company: we have sold 600+ of the N-Assay to them and will be supplying more in addition to further customization for other bacteria in 2017. As our arrangement with the client is CONFIDENTIAL, we will not be releasing their name.
Merry Christmas from Carol, Debby, Kim, Travis, Bret and all
Dec. 6, 2016
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