Date: Dec 10, 2010 Source: (
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RIVERSIDE, Calif., Dec. 10, 2010 -- Avisio Inc. (Pinksheets: AVIC) today announced that its OlFactor Laboratories Inc. subsidiary is about to open a new research laboratory that will pave the way for the commercialization of the company's new mosquito control technologies.
OlFactor Laboratories has invited investors, government officials, university professors and representatives of state and local health and vector control agencies to attend an open house, co-hosted by Avisio Inc. and the Innovation Economy Corporation. The event will take place at 2 p.m. Friday at the new research laboratory at 378 E. Orange Show Road in San Bernardino.
"OlFactor Laboratories has achieved an important milestone with the opening of its new research laboratory," said Amro Albanna, chairman and CEO of Avisio. "The tests OlFactor Laboratories conducts in the coming weeks and months will create a foundation for the development of specific products that could help control the spread of West Nile Virus, Dengue Fever, Malaria and other tropical diseases that are transmitted by mosquitoes."
Albanna said the opening of the 10,000-square foot laboratory has been made possible as a result of new investment capital that OlFactor Laboratories has received from Tech Coast Angels chapters in Inland Southern California and San Diego as well as the Coachella Valley Angel Network.
"This is one of the hottest deals I've seen in years," said John Tillquist, president of the Inland Empire Tech Coast Angels network, adding that OlFactor Laboratories is generating interest both nationally and internationally.
"It's a high risk investment that has the potential to solve a significant global problem," said Mike Napoli, a Tech Coast Angel investor from Palm Springs, noting that the potential returns to early investors can be as significant as the potential social impact, since the technologies being developed by the company could be used to combat mosquito-borne diseases around the world.
OlFactor Laboratories recently licensed the use of several categories of environmentally friendly chemicals from the University of California, Riverside (UCR) after university researchers discovered their potential in both luring and disrupting the ability of mosquitoes to find human beings.
One mixture of chemicals discovered by UCR researchers mimicks carbon dioxide (CO2) in exhaled human air, which mosquitoes use to navigate toward humans. But while CO2 has long been known as the primary attractant for mosquitoes, current methods of producing CO2 to lure mosquitoes into traps involve burning propane or obtaining large amounts of dry ice and allowing it to evaporate. Both methods are costly and cumbersome, so the use of non-toxic odors as attractants could be more efficient and cost-effective.
Another mixture of chemicals covered by the same UCR patent application seems to confuse mosquitoes to the point where their ability to detect and navigate toward C02 in exhaled human air is severely compromised.
While mosquitoes have been known to develop resistance to toxic insecticides over time, OlFactor Laboratories believes that its blend of odors could be used to provide an efficient and lasting means of controlling mosquitoes.
About OlFactor Laboratories, Inc.
OlFactor Labortories, Inc. is a majority owned subsidiary of Avisio Inc. that was formed to commercialize patented technnology that brings a novel approach to combatting the spread of infectious diseases caused by blood-feeding insects. The technology, utilizing scientific understanding of how insect olfactory systems detect carbon dioxide, can be used to attract or repel insects, depending on the end application. For more information, please visit www.olfactorlabs.com
About Avisio, Inc.
Avisio, Inc. is a publicly traded technology commercialization company with a mission to unlock the value of high-potential assets and transform them into high-value businesses. Avisio creates a new majority-owned private subsidiary around each asset and supports each business with experienced management teams, best-of-breed commercialization processes and resources, and access to global capital sources. For more information, please visit www.avisioinc.com
Safe Harbor Statement
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based largely on expectations and projections about future events and future trends and are subject to numerous assumptions, risks and uncertainties, which change over time. Avisio's actual results could differ materially from those anticipated in forward-looking statements and you should not place any undue reliance on such forward-looking statements.
The forward-looking statements in this news release are made as of the date hereof, and Avisio does not assume any obligation to update, amend or clarify them to reflect events, new information or circumstances occurring after the date hereof.
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
