The news, which is considered a milestone by the partners, caused shares in CombiMatrix yesterday to close up 10.35 percent at $4.05 in unusually heavy volume.
CombiMatrix and NDC penned an alliance to discover and develop new nanomaterials, nanotechnology tools, and associated intellectual property. Terms of the deal called for CombiMatrix to license its semiconductor microarray technology exclusively to NDC. NDC would use the technology in its combinatorial nanomaterials-discovery efforts for applications that include fuel cell catalysts, materials for rechargeable batteries, and electro-optic materials for telecommunications and displays.
NDC is complementing its nanomaterials discovery programs by developing a workstation for high-throughput nanomaterials screening using CombiMatrix's nanoarray hardware. "These workstations enable more efficient nanomaterials discovery efforts by capturing the intrinsic value of CombiMatrix's highly parallel nanoarray technology," NDC said.
CombiMatrix and NDC will share revenue from any commercially viable new nanomaterials that are discovered, as well as the sale of the workstations, the companies said.
Details of the technology, such as its targeted customer base, were not disclosed.