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BUSINESS OVERVIEW:
On June 2002 an agreement was finalized between Molecular
Specialties, Inc. and Intermagnetics General Corporation (IGC)
to transfer the Electron Paramagnetic Resonance (EPR) assets
of IGC-Medical Advances to Molecular Specialties. The EPR
assets were originally acquired by IGC in March 1997 as part
of the purchase off all of the business assets of Medical
Advances, Inc. (MAI). This Milwaukee based company was founded
in 1985 as a technology transfer from the Medical College
of Wisconsin to develop, manufacture and market RF coils for
the MRI industry. The EPR products were included in the original
technology transfer, but were never central to the MRI market.
These products fulfill a niche market among members of the
EPR research community. The role of Molecular Specialties
is to continue to serve this community.
As the result of discussions on collaboration in September
2002, Stelar, s.r.l. and Molecular Specialties, Inc. entered
into an agreement in which Molecular Specialties servers as
the North American marketing entity for Stelar's Spinmaster
FFC 2000 1T fast field cycling NMR relaxometer and companion
instrument SMARtracer Bench-Top FFC NMR Relaxometer. Stelar
has taken orders and installed 25 FFC NMR instruments in Europe
and one each in India, Saudi Arabia and Japan. There are five
instruments installed in North America. The principals of
Stelar and Molecular Specialties have known each other and
worked together in other areas of NMR for the past 19 years.
In July 2008 Molecular Specialties was issued a patent titled
"System for Concurrent MRI Imaging and Magnetic Field
Homogeneity Measurement". This element of intellectual
property will give Molecular Specialties a potential position
to licence the technology to medical device companies serving
the MRI and fMRI markets.
Business Plan/Strategy
There is a proposed concept in university-based technology
transfer to create companies that can commercialize "orphan"
or narrow market products. A company of this nature in its
initial strategy will create a commercial platform for products
and technologies that because of limited market size would
not be attractive to larger enterprises, but will fill a void
in market demand. Furthermore, the concept of this sort of
company is not driven by investors demanding a "cash
out" plan. A very successful business can be formed around
an annual revenue stream of $2 million to $5 million. The
concept is to create a business model that generates jobs
in the high technology sector and products that can support
the mission of scientific and medical researchers worldwide.
For the universities that are the origin of the technology,
royalties based on licensing the technology could be expected.
Without the "small company model", esoteric and
narrow market technologies may languish in the files of university
technology transfer offices.
Molecular Specialties is a model of a company that can transfer
university-based technology into "orphan" or narrow
scientific and clinical markets. The foundation market to
be addressed by Molecular Specialties will be electron paramagnetic
resonance (EPR) scientific community. This area of science
explores molecular structures using principles of biophysics
and microwaves as the measurement tool. At the Medical College
of Wisconsin located in the Department of Biophysics (formerly
Biophysics Research Institute) is the National Biomedical
ESR Center. This Federal Government funded laboratory has
an international reputation, and is one of the largest ESR/EPR
research centers in the world. The principal of Molecular
Specialties has had a 25-year working relationship with the
forerunner Biophysics Research Institute. The licensing of
intellectual property has been pursued by the Company from
the Medical College of Wisconsin to market microwave probes
and accessories developed in the Department of Biophysics.
These products have been put into practice in EPR research
laboratories. Additional EPR products are being developed
and patented by the Medical College of Wisconsin in collaboration
with the Jagiellonian University, Krakow, Poland. Molecular
Specialties may be used as a conduit to take these new products
to market.
Besides the EPR product offering, Molecular Specialties is
interested in working with the technology transfer offices
of universities to identify additional possible business opportunities
synergistic with the Company's marketing strengths and business
strategy.
All production of Molecular Specialties products is being
out sourced from suppliers who have expertise in engineering,
fabrication and the manufacture of products to be offered.
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