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Nano Labs Announces Joint Venture With CIBNOR

Stocks in this article: CTLE

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."

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