FORT LAUDERDALE, FL / ACCESSWIRE / October 3, 2024 / ALUF Holdings, Inc. (OTC PINK:AHIX) Acting CEO and Director, Joseph Paresi, is pleased to announce that detailed planning and execution discussions have occurred with Aluf's new Chief Operating and Chief Technology Officer (COO/CTO), Dr. Matthew Leftwich, regarding the integration of existing contracts and new business opportunities, as the team moves toward accelerating the planned acquisition closing of Nanomatronix (NMX) before the end of 2024.
The near-term technology focus of Aluf and NMX has been on three key areas:
Microelectronics Screening and Qualification Testing - Continuation of the present NMX contracts for screening and qualification of optoelectronics subsystems in support of the USG plan to upgrade US satellites and other defense platforms. Screening begins in 2024 on two (2) multi-phase contracts with major DOD primes. Additional contract mechanisms with Defense, Aerospace, and Satellite providers have been identified and plans to pursue them have been established.
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Biological Technologies - NMX has existing contracts with several pending and scheduled to begin within six months. These involve unique advancements in Biological Technologies (aka: Biotech) focused in two main areas - Advanced Organ-on-Chip (OOC) solutions and Wound Healing Technologies in collaboration with certain faculty of the University of Arkansas based on the unique inventions of (6) six key UA researchers.
Organ-on-chip (OOC) technologies involve microfluidic cell culture chips that mimic the functions, mechanics, and physiological responses of an organ, or organ system. The key discriminator differentiating NMX technologies from competitive approaches is the ability to measure Trans-epithelial/Trans-endothelial Electrical Resistance (TEER), a major discriminator in analyzing drug effects on live tissue. Other optical sensing mechanisms are being added for additional flow study capability that further differentiates NMX tech over their primary competitor in this space.
NMX is targeting three initial areas of OOC product releases: Advanced Micro-physiological Brain Injury Technology (AMBIT), for TBI studies and drug/treatment development; Nasal Airway Chips (NAC), to perform epidemiological studies of particle effects on the respiratory system and drug/treatment development; and Heart Valve Organ Chips (HaVOC), to study and develop treatments for diseases and conditions associated with Heart Valve issues.
Wound Healing efforts are focused on three initial enabling technologies: Gold Nano-constructs for Infection Remediation (AuNIR), aimed at combating drug-resistant infections; Injectable matrix Gels (InMaG), initially aimed at repairing degenerated rotator cuff muscles; and Fibroblast Injectable Anionic Hydrogels (FLIAH/shFGF1), aimed at healing diabetic induced skin wounds.
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Carbon Nanotube Technology (CNT) - Dr. Leftwich has developed a unique approach to manufacturing ultra-long Carbon Nanotubes (UL-CNTs) as an advanced technology for the next generation of high strength-to-weight ratio materials and advanced x-ray sources. Specifically, longer length carbon nanotubes are expected to be an upgrade to a broad range of carbon fiber solutions. Further, NMX has developed a process to manufacture CNT material in lengths over twenty times (20x) longer than existing approaches, enabling CNT-based applications not yet realized. CNT-based composites have tensile strength over 10 times greater than existing carbon fiber composites and reveal significant improvements in strength-to-weight ratio that could allow for significant improvements in aircraft, structural, and multi-functional materials. R&D is ramping-up to extend pure CNT lengths beyond 1 cm (post-harvest) for direct integration into novel CNT-composites.
The numerous advantages of this material will apply to advancement in defense and aerospace applications including aircraft, drones, missiles, armored vehicles, commercial vehicles, and bullet-proof materials, amongst others, as well as a solid-state solution to replace costly and less reliable x-ray technologies as used in medical, security and manufacturing, including non-destructive testing.
Pending Acquisition of Nanomatronix, LLC:
NMX operates by using a flexible staff comprised of up to twelve full-time employees, augmented by up to twenty-four PhD level technical partners, and their research centers, which have created ideal channels for recruiting new talent from the UA and partnering institutions. This arrangement allows for technology development in a wide range of areas while limiting operational costs and benefiting UA students with real-life research and development opportunities.
ALUF Holdings will manage all back-office functions, including finance and accounting, legal, marketing, and human resources as part of the acquisition agreement with NMX, scheduled to close by the end of 2024. Implementation of production programs for the above technologies will involve a combination of ALUF/NMX-produced manufacturing, augmented by go-to-market partnerships specific to the technical operational areas as appropriate.
Aluf Holdings has signed a purchase agreement to acquire NMX, with the deal expected to close by the end of 2024. Dr. Leftwich will play a key role in expanding the company's research and development (R&D) and technology growth strategies, with primary R&D operations based in Fayetteville, AR. Upon completion of the acquisition, NMX will become a wholly owned subsidiary of Aluf Holdings, Inc., maintaining its status as a US-based, 100% US-owned, and US-sourced small business.
About Aluf Holdings, Inc.:
Aluf Holdings, Inc., a publicly traded company dedicated to acquiring, developing, and managing a diverse portfolio of high-growth-potential companies and technologies. With a strong focus on the biotech and biometrics industries, Aluf aims to revolutionize these sectors through innovative solutions and strategic acquisitions. An acquisition roadmap, including several fully executed Stock Purchase Agreements (SPAs) has been signed as Aluf Holdings, Inc. expands its operational structure in key and well-established markets, comprised of several companies that have strong operational and financial performance.
About Nanomatronix, LLC:
Nanomatronix, LLC (NMX) is a US-based small business specializing in 100% US-sourced technology development. The company leverages non-dilutive federal funding and contracts to bring novel technologies to market, particularly in the defense and consumer industries. NMX is structured around three Strategic Business Units (SBUs) - Biotechnology, Microelectronics, and Nanotechnology - which focus on developing interdisciplinary products and system-level solutions.
Contact Information:
Joseph Paresi, CEO
Aluf Holdings, Inc.
914-643-5251
jparesi@aluf.com
jparesi@tasktmc.com
Teresa McWilliams, CFO
Aluf Holdings, Inc.
teresa.mcwilliams@aluf.com
866-793-1110
Dr. Matt Leftwich, Ph.D.
CTO/COO - Aluf Holdings, Inc.
matt.leftwich@aluf.com
CEO/Engineering Director - Nanomatronix, LLC
mleftwich@nanomatronix.com
Safe Harbor Statement:
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. These statements are based on assumptions that may not prove accurate and are subject to significant risks and uncertainties. Factors that could cause actual results to differ include, but are not limited to, the company's ability to secure financing, retain key personnel, ensure timely delivery of inventory, and develop and market new products. The company disclaims any intention or obligation to update forward-looking statements as a result of developments occurring after the date of this release.
SOURCE: Aluf Holdings, Inc.
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