AUSTIN, TX -- (Marketwired) -- 10/22/13 --
Applied Nanotech Holdings, Inc. (OTCQB: APNT) announced that it has been awarded a Phase I Small Business Innovation Research (SBIR) grant, in the amount of approximately $175,000 by the National Institute of Nursing Research, part of the National Institutes of Health (NIH). The purpose of the grant is to test APNT's sensor technology for early detection of pressure ulcers, also known as bed sores, to direct more effective and timely treatment before the ulcers are fully emerged. This grant addresses immediate medical needs.
APNT will be partnering with UC Davis to tackle this important public health issue. Pressure ulcers are a serious problem in clinical care, causing infections and amputation. Pressure ulcers result in costs of $1 billion to the U.S. healthcare system and $3 - $5 billion worldwide.
Early detection capability for pressure ulcers will allow for earlier, more appropriate, and more cost effective treatment, such as pressure relief, aggressive repositioning, and microclimate control surfaces. Early detection will have a positive effect on many patients' lives.
"This represents the first NIH grant we have received for application of our EZKnowz™ technology to healthcare applications," said Dr. Zvi Yaniv, President and Chief Operating Officer of APNT. "The health care area, including patient care and health management represent the largest target market for our technology and we are very excited to be aligned with UC Davis on this important project."
About Applied Nanotech Holdings, Inc.
Applied Nanotech Holdings, Inc. is a premier research and commercialization organization focused on solving problems at the molecular level. Its team of PhD level scientists and engineers works with companies and other organizations to solve technical impasses and create innovations that will create a competitive advantage. The business model is to license patents and technology to partners that will manufacture and distribute products using the technology. Applied Nanotech has over 300 patents or patents pending. Applied Nanotech's website is http://www.appliednanotech.net.
About UC Davis
For more than 100 years, UC Davis has engaged in teaching, research and public service that matter to California and transform the world. Located close to the state capital, UC Davis has more than 33,000 students, more than 2,500 faculty and more than 21,000 staff, an annual research budget of nearly $750 million, a comprehensive health system and 13 specialized research centers. The university offers interdisciplinary graduate study and more than 100 undergraduate majors in four colleges -- Agricultural and Environmental Sciences, Biological Sciences, Engineering, and Letters and Science. It also houses six professional schools -- Education, Law, Management, Medicine, Veterinary Medicine and the Betty Irene Moore School of Nursing.
Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties concerning our business, products, and financial results. Actual results may differ materially from the results predicted. More information about potential risk factors that could affect our business, products, and financial results are included in our annual report on Form 10-K for the fiscal year ended December 31, 2012, and in reports subsequently filed by us with the Securities and Exchange Commission ("SEC"). All documents are available through the SEC's Electronic Data Gathering Analysis and Retrieval System (EDGAR) at www.sec.gov or from our website listed above. We hereby disclaim any obligation to publicly update the information provided above, including forward-looking statements, to reflect subsequent events or circumstances.
Applied Nanotech Holdings, Inc.
Source: Applied Nanotech Holdings, Inc.