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PALO
ALTO, Calif., Oct. 4 /PRNewswire/ -- Nanosys, Inc.
announced today that it has signed an $8.2 million
sub-contract awarded by Science Applications International
Corporation (SAIC) to develop undisclosed sub- system
components based on their proprietary nanotechnology
platform for use in systems for the U.S. Government.
Under this contract, Nanosys will receive $1.5 million
of funding over the first 12 months of the program,
with an additional $6.7 million available over the
remaining four years of the contract based upon the
availability of government funding and the achievement
of milestones. Further details of the program were
not disclosed. Nanosys and SAIC previously announced
an agreement to market each other's capabilities to
their customers.
"Our collaboration with SAIC has exceeded our
expectations," said Calvin Chow, chief executive
officer at Nanosys. "While we are developing
products and technologies for commercial applications;
these same components can be extremely valuable in
government systems and provide synergy in our development
efforts. Our collaboration with SAIC helps us to understand
the specific needs of the U.S. government and offer
nanotechnology enabled solutions with systems integration
and support."
About SAIC
SAIC is the largest employee-owned research and engineering
company in the United States, providing information
technology, systems integration and eSolutions to
commercial and government customers. SAIC engineers
and scientists work to solve complex technical problems
in national and homeland security, energy, the environment,
space, telecommunications, health care and logistics.
With annual revenues of $6.7 billion, SAIC and its
subsidiaries, including Telcordia Technologies, have
more than 44,000 employees at offices in more than
150 cities worldwide. More information about SAIC
can be found at http://www.saic.com/.
About Nanosys
Nanosys, Inc. is a leader in the development of nanotechnology
based products utilizing high performance inorganic
nanostructures. Nanosys has built one of the broadest
technology platforms in the industry with more than
250 patents and patent applications covering fundamental
areas of nanotechnology. Based in Palo Alto, Calif.
and privately held, Nanosys collaborates with industry
leaders including Dupont, Intel, Matsushita Electric
Works and SAIC to develop revolutionary high-value,
high-performance products for computing, optoelectronics,
communications, energy, defense and the life and physical
sciences. Additional information about Nanosys can
be found at http://www.nanosysinc.com/
CONTACT:
Peter Garcia
Chief Financial Officer
Nanosys, Inc.
(650) 331-2154
pgarcia@nanosysinc.com
Source: Nanosys, Inc.
CONTACT: Peter Garcia, Chief
Financial Officer of Nanosys, Inc.,
+1-650-331-2154, pgarcia@nanosysinc.com
Web site: http://www.saic.com/
http://www.nanosysinc.com/
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