NeoPhotonics Spins Out Medical Biz

NeoPhotonics will spin out its medical components business into a new company, called NanoGram Devices Corp.

December 5, 2002

1 Min Read

FREMONT, Calif. -- NeoPhotonics Corporation, a leader in the development of nanomaterials technology and product applications, announced today that it has completed preparations for spinning off its medical component business into a separate corporation, according to Tim Jenks, the company's chief executive officer. The new company, NanoGram Devices Corporation, has developed and is manufacturing and marketing specialized power sources for medical devices and other medical equipment based on its unique, patented, laser-based nanomaterial synthesis technology. The company's nanomaterial-enhanced power sources enable smaller, longer lifetime, and more reliable medical devices. The nanomaterial process technology used by NanoGram Devices was originally developed by NeoPhotonics Corporation and affiliate NanoGram Corporation in partnership with a leading medical device company. Critical to the company's nanomaterials technology is its ability to make unique material compositions in crystalline form and at almost molecular size. The result is new device designs such as very high-power and high-rate power sources. Jason M. Lemkin, president of NanoGram Devices Corporation, terms the new company's charter "an opportunity to save lives and to improve the lifestyle of people who require cardiac implants. "The medical device community has been searching for years for a new power source technology that can address the expanding demands and specifications of implantable cardiac rhythm devices in particular. Our technology is the first real innovation in the industry in well over a decade, and we look forward to supplying advanced nanotechnology-enabled power sources and other components that will truly improve device performance," Lemkin added. NeoPhotonics Corp.

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