GENERAL COMPANY NEWS

•  NASDAQ listed Nanophase Technologies, a developer of nanomaterials and nanoengineered products, has announced record revenues for the second quarter of 2007. The firm says that total revenue increased to $4.13 million (€3 million) compared with $2.39 million for the second quarter of 2006, representing 73% revenue growth year-on-year.

"Revenue growth has been primarily driven by increasing sales in architectural coatings, both interior and exterior, and industrial coatings in the US and Europe," commented Joseph Cross, president and CEO of Nanophase. "We continue to believe that the adoption rate for nanomaterials is increasing and remain positive on long-term revenue growth."

•  Octillion has doubled its research funding to speed up the development of a "first-of-its-kind" transparent glass window capable of generating electricity. Last month, researchers created an early lab scale model of the photovoltaic device dubbed NanoPower Window. The glass is treated with a spray-on fluorescent coating of silicon-based nanoparticles to convert the sun's energy into electricity.

•  Industrial NanoTech reports that its Nansulate LDX coating is being applied at a Pacific US Navy facility by a military contractor to encapsulate existing lead-based paint. The firm explains that its environmentally safe, water-based, lead abatement coating can be applied to any substrate, forming a barrier coat to seal highly toxic lead paints.

MEDICINE and LIFE SCIENCES

•  Abraxis BioScience has agreed to contribute $10 million over a period of 10 years to fund collaborative projects at the California NanoSystems Institute (CNSI) based at UCLA. The Abraxis/CNSI Research Collaboration Lab will focus on what the partnership describes as "translational science" - translating scientific discoveries into practical applications.

"Abraxis has an established history of developing innovative technology,” said Dr. Leonard H. Rome, CNSI associate director and senior associate dean for research at the David Geffen School of Medicine at UCLA. “We are confident they will be a strong and committed partner in furthering important research and the development of drugs to treat life-threatening and debilitating illnesses."

•  BioForce Nanosciences has appointed Saju Nettikadan as director of its newly created "Emerging Technologies" division. The firm develops and commercializes nanotech tools and solutions for the life sciences sector and believes that its flagship product, the Nano eNabler molecular printer, has the potential to be a platform for "significant future revenue".

•  Advanced Magnetics (now AMAG Pharmaceuticals) has reported preliminary positive results from its fourth and final planned Phase III clinical trial of ferumoxytol as an intravenous iron replacement therapeutic in chronic kidney disease patients. The biopharmaceutical company is using nanoparticle technology to develop therapeutic iron compounds for the treatment of anaemia, as well as novel imaging agents to aid in the diagnosis of cancer and cardiovascular disease.

REGULATORY AFFAIRS

•  The FDA's first nanotechnology task force report has been recognised as a "step forward" by the Project on Emerging Nanotechnologies – an initiative launched to help business, government and the public anticipate and manage possible health and environmental implications of nanotechnology.

"Many of the first generation of nanotechnology products now on the market are in sectors where the FDA's statutory authority is weakest – areas like cosmetics and dietary supplements," stated Project on Emerging Nanotechnologies Chief Science Advisor Andrew Maynard. "The report's recommendations that FDA provide clear nanotechnology-associated guidance for manufacturers in all areas of agency responsibility are an important move towards ensuring the benefits of nanotechnology are realized without undue risk."

•  An initiative to develop a "Responsible NanoCode" for businesses working with nanotechnologies has been launched by the Royal Society, Insight Investment, the Nanotechnology Industries Association and the Nanotechnology Knowledge Transfer Network. Confirmed members of the working group so far include – amongst others – BASF, Unilever, Smith & Nephew, the consumer group Which?, development NGO Practical Action, and Amicus.