WEST LAFAYETTE, Ind. (July 21, 2010) - M4 Sciences, a developer of precision computer numerically controlled (CNC) machining technology, announced today that it has signed an international product distribution agreement in Japan.
James Mann, chief executive officer of M4 Sciences, confirmed that the M4 Sciences management team and officials from Fukuda Corp., a mechanical technology firm in Tokyo, signed a product distribution agreement to provide M4 Sciences technology to the Japanese market. Fukuda provides original equipment manufacturers' machine tools and their uses to nearly one-third of the world's market. Japan represents nearly one-fifth of the world market for TriboMAM and is the home to several major manufacturers of computer controlled machine tools. Mann added that M4 Sciences has similar distribution agreements already under development with firms in Western Europe and the United States.
"M4 Sciences is another example of how the state is supporting innovations developed at Indiana universities," said Mitch Roob, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. "The fact that M4 Sciences is entering the international market at such a fast pace is a testament to the discoveries and development of new technologies in our state."
M4 Sciences' MAM technology is the first of its kind in the machining industry. The technology has been integrated by M4 Sciences into a transferrable machine tool accessory, called TriboMAM, which holds drill tools and superimposes a low-frequency oscillation onto the drilling process. MAM technology allows up to a 500 percent increase in drilling productivity and reduces manufacturing cost in high value-added precision drilling operations in computer controlled machines. M4 Sciences first TriboMAM product is compatible with computer controlled lathes used in automotive, hydraulics and orthopedics industries to manufacture precision components with drilled holes ranging from 0.2mm to 5mm in diameter.
"The U.S. distribution agreements combined with the international agreements mean that M4 Sciences will have access to more than 80 percent of the world market for the modulation-assisted machining technology," Mann said. "As a result of these agreements, we expect to meet our 2010 sales forecast of $1.5 million and exceed $3 million in sales next year."
Based at Purdue Research Park, M4 Sciences' CNC technology was discovered at the university in the 1990's and licensed through the Purdue Research Foundation's Office of Technology Commercialization.
"M4 Sciences' agreement with one of the world's leading distributors of mechanical technology demonstrates well the impact that Indiana is having on the global economy," said Joseph B. Hornett, senior vice president, treasurer and chief operating officer of the Purdue Research Foundation, which manages the Purdue Research Park. "This agreement is the result of the support that the company has received at the state and national level to develop this Purdue University discovery."
In 2006, M4 Sciences received a Small Business Technology Transfer Research Award from the National Science Foundation to support MAM drilling research, a program that has now entered into a Phase IIB award through 2012 and has provided total funding of $1.3 million. In 2007, the state of Indiana awarded M4 Sciences a $1.5 million grant from the 21st Century Research and Technology Fund to promote commercialization of the precision drilling technology. The state provided additional follow-on and matching grants of $500,000. M4 Sciences also has commercialized MAM technology with more than $2 million invested in research and product development from private investment and commercial sales.
M4 Sciences is one of more than 100 businesses awarded a 21st Century Fund grant since January 2006. During that time, the fund has invested more than $130 million in high-tech Indiana entrepreneurial companies.
About M4 Sciences
M4 Sciences, based in the Purdue Research Park of West Lafayette, was founded in 2005. The company specializes in designing and developing new technologies and systems for ultraprecision machining. M4 Sciences' technical expertise and business experience will help accelerate Indiana to the forefront of the rapidly expanding micro-meso mechanical manufacturing M4 industry. For more information visit www.m4sciences.com
About IEDC
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Mitch Roob serves as the chief executive officer of the IEDC. For more information about IEDC, visit www.iedc.in.gov.
About Purdue Research Park
The Purdue Research Park (http://www.purdueresearchpark.com) has the largest university-affiliated business incubation program in the country. The Purdue Research Park has four sites in the State of Indiana. They are Purdue Research Park of West Lafayette, Purdue Research Park at AmeriPlex-Indianapolis, Purdue Research Park of Northwest Indiana and the Purdue Research Park of Southeast Indiana. The nearly 200 companies located in the park network employ about 4,000 people. In 2004, the Purdue Research Park of West Lafayette was named Outstanding Science/Research Park by the Association of University Research Parks.
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Media Contact:
Cynthia Sequin (Purdue Research Park) - 876-588-3340 or casequin@prf.org
James Mann (M4 Sciences) - 765.479.6215
Blair West (IEDC) - 317.232.8873 or BWest@iedc.in.gov
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