Nanosys, Inc. (www.nanosysinc.com) announced today that it has entered into two new commercial partnerships. The first partnership is the launch of Phase I of a potential $7.2 million joint development project supported by the Defense Advanced Research Projects Agency (DARPA) with partners Sciperio Inc., the University of Texas at Dallas and Penn State University. The contract, managed through the Air Force Research Labs (AFRL), is for the development of a new semiconductor technology for the fabrication of high-performance, large-area electronic systems on flexible substrates. The second partnership is a multi-million dollar strategic development deal with In-Q-Tel, a private non-profit group funded by the Central Intelligence Agency.
Harris & Harris Group has invested $1,500,000 in Nanosys, Inc., its largest investment in a tiny-technology company to date. Nanosys is a rapidly growing advanced technology company focused on the development of nano-enabled systems. These systems incorporate novel and patent-protected nanostructures that integrate functional complexity directly into each individual nanoparticle, enabling the low-cost fabrication of high-value, high-performance applications in a broad range of industries.
Harris & Harris Group is a publicly traded venture capital company that now makes initial investments exclusively in tiny technology, including nanotechnology, microsystems and microelectromechanical systems (MEMS). The Company's last 12 initial private equity investments have been in tiny-technology enabled companies.
Harris & Harris Group, is a Business Development Company with 11,498,845 common shares outstanding.
Detailed information about Harris & Harris Group. and its holdings can be found on its website at http://www.TinyTechVC.com.
This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company's Annual Report on Form 10-K and recent Prospectus filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business, including but not limited to the risks and uncertainties associated with venture capital investing and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, Harris & Harris Group, Inc. undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties.