FALKEN and AZTEX to Work Together to Create the Next Generation Biomaterials
August 19 2011 - 3:35PM
Marketwired
Falken Industries Ltd. (OTCBB: FLKI) announced today that the
Company has entered into a licensing agreement with biotechnology
leader Aztex Ltd.
Falken has successfully negotiated a license to use Aztex'
powerful technology to accelerate its scientific research and
product development, along with an option to commercialize the
resulting biomaterials in the textile and bio-health fields.
Under the agreement, Aztex will provide Falken with its
proprietary genetic engineering assets and expertise to enable
Falken to significantly accelerate its product development. In
addition to providing the customized assets and technological
know-how, Aztex has granted Falken an exclusive commercial license
to use the technology in the textile and bio-health markets. Aztex
has agreed that Falken will have exclusive commercial rights to use
Aztex proprietary assets in conjunction with assets previously
licensed from third parties or developed by Falken's internal
research. Aztex will be creating customized raw materials for
Falken's use in its development of polymers and technical textiles
targeting its leading position in impregnated wet wipes.
"Aztex' proprietary technologies are extremely powerful
resources which enable very precise application targeting," said
Falken's Communication Officer Manuel Garcia. "We are convinced
that this technology is the key to creating advanced new products
and materials. We believe that when these customized assets are
delivered by Aztex in the coming weeks, the technology will enable
us to rapidly and precisely target specific areas for the creation
of stronger fibers, advanced textiles and new bio-materials for use
in our professional and industrial lines."
"Falken existing technologies and products have been recognized
as revolutionary in engineering circles for various military and
civil defense applications, including disinfection, and bio-health
products and systems" said Garcia.
"This latest development is expected to accelerate our
development of advanced materials and advance Falken's competitive
advantage in the field of bio-materials. The combination of Aztex's
revolutionary technology and know-how, coupled with Falken's
proprietary bio-materials technology and know-how, will create
synergies that will benefit both companies.
About Falken Industries Ltd:
Falken Industries Ltd (OTCBB: FLKI) is a diversified industrial
conglomerate that operates in Chemicals, Wet Wipe and Biodegradable
Technology. Falken Industries Ltd is the concept behind more than
160 products distributed through a network of global platforms and
the recipient of trade awards for innovations, biodegradability and
environmental and health quality standards.
SAFE HARBOR STATEMENT: This news release contains
"forward-looking statements" made pursuant to the safe harbor
provisions of the 1995 Private Securities Litigation Reform Act.
"Forward-looking statements" describe future expectations, plans,
results, or strategies and are generally preceded by words such as
"future," "plan" or "planned," "will" or "should," "expected,"
"anticipates," "draft," "eventually" or "projected." Such
statements are subject to risks and uncertainties that could cause
future circumstances, events, or results to differ materially from
those projected in the forward-looking statements, including the
risks that our products may not achieve customer acceptance or
perform as intended, that we may be unable to obtain necessary
financing to continue operations and development, and other risks.
You should consider these factors in evaluating the forward-looking
statements included herein, and not place undue reliance on such
statements.
Contacts: Falken Industries Ltd. Manuel Garcia Communications
Officer mgarciafaure@falkenltd.com +1609 357 0316
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