Micromem Technologies, Inc. (MMTIF.OB) Enters Breast Cancer Detection Market
Micromem Technologies Inc. is a leader in magnetic random access memory (MRAM) technology for use in aerospace/defense, sensors and RFID applications. The company and its wholly-owned subsidiary, Micromem Applied Sensor Technologies Inc. (MAST Inc.), has received an initial purchase order for its sensors from Life Medical Technologies Inc. Upon completion, the order will total $30 million. Micromem anticipates delivery to begin in 2009 with the bulk expected in 2010, in accordance with fulfilling Life Medical Technologies' client orders. The initial terms of the purchase order are a request for up to 10 million units and MAST to complete a design,…