DETROIT, June 11, 2013 (GLOBE NEWSWIRE) -- Nano Labs Corp. (OTCQB:CTLE) is pleased to announce that the Company has signed a General Agreement with CIBNOR to collaborate on the commercial development of Nano Labs' proprietary nanoparticle immune stimulatory delivery system technology for application in the aquaculture industry.
The Joint Venture will initially focus on the development of an immune modulator for the prevention of White Spot Shrimp Virus (WSSV) disease in cultured shrimp. Nano Labs has developed innovative research on Polymer nanoparticle delivery technology and the experimental processes have already resulted in substantive and highly-promising test results.
Working together, Nano Labs and CIBNOR will conduct commercial production technology validation and scaling to develop a commercial pilot program.
CIBNOR's applied research center is among the top three aquaculture facilities in the world specializing in the evaluation methods and processes used in aquaculture technology and have a distinguished history of finding solutions relating to technological development on pilot and commercial scales. CIBNOR will be providing resources (people, equipment and infrastructure) that are involved in the day-to-day work to further scale the technology for commercialization.
Both parties are working towards Specific Agreements resulting from this general cooperation agreement, including provisions to regulate intellectual property rights and participation of royalties. Nano Labs reserves the intellectual property of the technological developments, inventions and general knowledge that constitute the "technology".
"A world class leader with a combination of experience, human resources, technical and first-class infrastructure available from CIBNOR makes them a perfect partner to exploit commercial development of the aquaculture biotechnology, agro-ecological and other aspects with industrial applications," states Mr. Bernardo Camacho Chavarria, President of Nano Labs.
Dr. Sergio Hernandez Vazquez, a Director with CIBNOR explains, "Our collaborative mandate is to help develop aquaculture activities and assist in increasing world aquaculture production. Mexico has considerable potential to increase its aquaculture activity due to its extensive coastline, interior waters, diversity of climate conditions, and natural resources. Aquaculture development in the next few years will be of the utmost importance because it will allow us to increase income from exports, generate jobs, increase our well-being through animal protein consumption, decrease rural migration, decrease poverty and guarantee our food supply."
Aquaculture is the farming of aquatic organisms including fish, mollusks, crustaceans and aquatic plants which are designated for harvest and consumption. According to the Food and Agriculture Organization of the United Nations (FAO), aquaculture is a $17.7 billion USD industry, representing approximately 43% of the total production of fish.
For more information on CIBNOR, please visit www.cibnor.com.mx.
About Nano Labs
Nano Labs Corp. (CTLE) is a nanotechnology research and development company which began in October, 2012, but is able to access resources that encompass nearly 30 years of research and development in nanotechnology as well as hundreds of peer-reviewed and published research papers and other scholarly material. Our Company's research and development team of scientists, designers, and engineers is focused on creating a portfolio of advanced products that could provide benefits to a variety of industries including: (i) consumer products, (ii) energy, (iii) materials, and (iv) healthcare. Through the use and integration of proprietary nano compounds, our goal is to evolve common products into new, revolutionary products in order to make the world a better place. Nano Labs shares are traded on the OTC Bulletin Board in the United States under the ticker CTLE. For more information, please visit www.NanoLabs.us.
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Forward- looking statements
This press release contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1993 and Section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those laws. These forward-looking statements are based upon a number of assumptions and estimates that are subject to significant uncertainties that involve known and unknown risks, many of which are beyond our control and are not guarantees of future performance. Actual outcomes and results could materially differ from what is expressed, implied, or forecasted in any such forward-looking statements and any such difference may be caused by risk factors listed from time to time in the Company's news releases and/or its filings with the OTC Bulletin Board or as a result of other factors.