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Nano-tech firms see huge growth potential in partnership

For 26 years, Nanofilm has been creating formulas for cleaning products and optical coatings in Valley View. Similarly, SDG Inc. in the Cleveland Clinic's Innovation Center has spent the last 16 years developing nanotechnologies in the medical and healthcare fields.

Until recently, the two were unaware of the each other's existence. Then, at a nanotechnologies networking meeting run by Polymer Ohio, Nanofilm's president and CEO Scott Rickert and SDG co-founder and senior vice president Robert Geho crossed paths. The meeting was the beginning of partnership in which each company brings their talents to the table to develop new products.

In early May Nanofilm and SDG Inc. signed a comprehensive joint development and licensing agreement to develop and commercialize nano-formulas that combine the two companies' technologies. Among the planned projects is development of technology to control the release and toxicity of bio-active agents at the nano-scale. Potential applications include longer lasting anti-bacterial surface treatments.

"I'm very excited about this," says Rickert. "Up until this point we have not had any way to do anything unique in the medicine and healthcare markets. We both have experience in the technology, but didn't know the other one's areas. This will allow us to take polymer films and make bioactive products that make our lives better and safer."

Rickert sees huge growth potential in the partnership. "It's going to be huge," he says. "Every time we come out with a new product announcement I see us hiring 20 more people." Rickert says they hope to announce their first new product development sometime this year.

Source: Scott Rickert
Writer: Karin Connelly

This story originally appeared in hiVelocity's sister publication, Fresh Water Cleveland

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