Re: Extropian Investment Club: Money Pool

Brian D Williams (
Tue, 27 May 1997 07:35:15 -0700 (PDT)

From: Hal Finney <>

>It looks to me like nanotech would be a bad investment at the
>present time (unless you use the term very broadly to include
>biotech and the like).

An excellent example of this was posted to this list a few weeks

SAN DIEGO--(BUSINESS WIRE)--April 29, 1997--Nanogen Inc. Tuesday
announced that it has been awarded a U.S. patent covering key areas
of its Automated Programmable Electronic Matrix (APEX) Technology.

U.S. Patent No. 5,605,662, titled ``Active Programmable
Electronic Devices for Molecular Biological Analysis and
Diagnostics,''is the third U.S. patent issued to the company within
the past 10 months.

``This patent provides Nanogen with significant proprietary
protection on our electronic microchip array technology,'' said
Howard C. Birndorf, chairman and chief executive officer of

The patent, which expires on Feb. 25, 2017, was issued to
co-inventors Michael J. Heller, Ph.D., chief technical officer and
a co-founder of Nanogen, and Eugene Tu, research scientist. Patent
applications on this invention have also been filed
internationally. All rights to the patents have been assigned to

``Our invention encompasses self-addressable microelectronic
devices which can actively carry out and control multiplex
reactions in microscopic formats,'' said Heller.

``We are actively developing a series of products embodying this
technology which will have applicability in a variety of areas,
including the early detection and diagnosis of disease, genetic
screening, molecular oncology, blood typing and screening, and
biological research, as well as a number of other potential
applications,'' added Tu.

Nanogen is a privately held company focused on the development of
a broad-based diagnostic platform, which combines molecular
genetics, microelectronics, lasers and nanotechnology. The company
currently employs 60 people at its corporate headquarters in San

Nanogen Inc., San Diego
Harry J. Leonhardt, 619/546-7700

>Nanotech is a good example of an area where Extropians are
>vulnerable to being seduced by sexy sounding technology. We have
>to remain skeptical and look at these ideas critically. Nanotech
>has a lot of potential but it's not just around the corner.

I agree that any investment should be subjected to the cold harsh
light of good capitalism, but we should use our own expertise and
knowledge base to recognize "nuggets in the gravel."