Founded in 1997, Industrial Science & Technology Network, Inc. ("ISTN") is a dynamic, innovative advanced technology company specializing in the development of nanotechnology-enabled products. These products rely on the control of material composition, form and structure at the sub-micron level to deliver a superior combination of cost-effectiveness and performance. The Company's proprietary technology platform, which is based on over 10 years of R&D in organic-inorganic nanostructures, can effectively address customer and end-user needs in a variety of large markets, including building products, chemicals, communications, defense, electronics, medical devices, pharmaceuticals and transportation. In order to enhance its positioning in today's increasingly competitive intellectual property environment, the Company is committed to delivering continued innovation through a fast-paced, highly responsive approach to product development.
ISTN's objective is to utilize its platform technology to develop nanotechnology-enabled products for three highly promising application areas- industrial products, opto-electronics and biotechnology. The Company's primary commercialization strategy is to build mutually beneficial relationships with leading manufacturers in these industries to accelerate the path to market of its products. These strategic partnerships allow ISTN to leverage its partners' vast knowledge of market dynamics and commercialize its products without the substantial initial investment required to establish in-house manufacturing capabilities. Meanwhile, they enable the manufacturer to capitalize on the tremendous commercial potential of nanotechnology without having to invest significant internal resources. ISTN is also willing to license a mature technology to a corporate partner or work with investors and partners to create spin-off companies built around ISTN technology.
An example of the arrangement mentioned above is ISTN's joint development partnership with Optimax Technology Corporation, a leading manufacturer of polarizers for the LCD industry, to create a next-generation anti-reflection coating for LCD's and explore other novel applications of optical nanotechnology. This relationship also highlights ISTN's commitment to continuous innovation. With the ever-increasing pace of technical advancement in the industry, ISTN believes that a dominant intellectual property portfolio is not enough to maintain a strong competitive position. Consequently, it works with its partners on new R&D initiatives even as it is still preparing to roll out its first co-developed product.
Since its founding, ISTN has also teamed with a variety of other corporations in its target application areas, including Armstrong World Industries, Dow Chemical, PPG Industries and Taiwan Synthetic Rubber. In addition, the Company has received numerous research grants from government agencies such as Ben Franklin Technology Partners, the U.S. Department of Energy, the U.S. National Institutes of Health (NIH), and Taiwan's Industrial Technology and Research Institute (ITRI). Because of its R&D team's extensive experience in working with government laboratories and leading research universities, the Company is also able to selectively leverage the fundamental knowledge produced by these institutions. Laboratories and universities with which ISTN has collaborated include the National Institute of Standards and Technology (NIST), Pacific Northwest National Laboratory (PNNL), Sandia National Laboratories, Brown University, Cornell University, the University of Cincinnati, the University of Maryland, and the University of Michigan.
