NanoInk looking at 'strategic alternatives'

NanoInk has started looking at various options for its operations, including a possible sale of the business or parts of it, such as the on-dose authentication technology specialist NanoGuardian.

The company said in a statement that it had enlisted the aid of its financial advisor Lazard in its review of its operations, which focus on a number of applications for a patented technology known as dip pen nanolithography (DPN).

DPN is a process for depositing nanoscale materials onto a substrate and has been used in drug discovery, stem cell research, engineering and brand protection applications.

NanoInk has developed a platform called NanoEncryption (pictured)  that can be used to protect individual tablets, capsules and other dosage forms from counterfeiting and diversion. Last year, the company forged an alliance with capsule specialist Capsugel - a subsidiary of Pfizer - to provide pre-coded capsule shells to drugmakers (see Milestone looms for NanoGuardian as first product nears market).

According to NanoInk's chief executive James Hussey the company has experienced "robust sales growth" and now needs to identify "the optimal structure for rapid and broad proliferation of our technology worldwide."

Options on the table include "a sale of the company, a sale of specific DPN applications and/or the NanoGuardian business, or partnerships around NanoInk's technology," said the company.