July 23, 2010

Boston, Massachusetts — Spin Transfer Technologies (STT) announced today a collaboration with Singulus Technologies AG to apply advanced deposition techniques to support commercial development of STT’s novel MRAM memory devices.

Singulus Technologies, through its Nano Deposition Technologies (NDT) business unit, is a renowned manufacturer of advanced thin film deposition equipment for MRAM. Under the arrangement, Singulus NDT’s TIMARIS deposition tool will be utilized to create magnetic layer stacks with STT’s design specifications. These layer stacks are then processed at STT contracted facilities into memory arrays for testing, optimization, and eventually, pre-commercial prototyping. The Timaris deposition tool is capable of high throughput production. Its high level of uniformity allows precise control of layer composition and thus device properties.

“This arrangement with Singulus is a significant step forward, as it will accelerate our commercialization efforts and time to market,” says STT General Manager, Vincent Chun. “The quality of the Timaris tool for deposition is extraordinary, permitting STT to reach customer requirements for reliability and performance.” According to Wolfram Maass, Managing Director of the Singulus NDT business unit, “we are very positive about the commercial potential of spin transfer MRAM, and are excited to be working with STT.”

STT’s orthogonal spin transfer MRAM technology utilizes a unique configuration that results in deterministic switching of the free magnetic vector (which is used for storing information), as compared to the stochastic switching behavior common to other spin transfer MRAM approaches. This deterministic switching allows very fast (sub-nanosecond) switching speeds and significantly lowers energy consumption.

About Spin Transfer Technologies

Spin Transfer Technologies, LLC was established by Allied Minds and New York University to develop and commercialize its spin transfer magnetoresistive random access memory technology, OST-MRAM. The technology was originally developed from the nano-magnetism research conducted in the laboratory of Professor Andrew Kent. His research into spin transfer induced reversal of magnetization orientation showed that switching magnetic orientations can be accomplished much faster than in conventional spin transfer approaches. This discovery has enormous implications for the development of spin transfer MRAM devices, including faster switching times, lower power operation and scalability to smaller dimensions. For more information, please visit www.spintransfer.com.

About Allied Minds

Allied Minds is a U.S. capital investment firm with offices in Boston, Los Angeles, and Washington, DC. With $200M in capital, the Company creates spin out businesses based on early-stage technology developed at renowned U.S. Universities and National Labs and serves as a holding company that supports these businesses with capital, management, and shared services. Allied Minds is the premier firm to utilize this novel and fully integrated approach to technology investing.  The Company’s subsidiary investments span multiple business sectors and offer an attractive risk-return profile, a deliverable timeline, and potential products that will be groundbreaking in their respective fields. These subsidiaries include AXI, BA Logix, Biotectix, Cephalogics, CryoXtract, GliaGen, Illumasonix, ProGDerm, Precision Biopsy, Purtein, RF Biocidics, SaltCheck, SiEnergy Systems, SoundCure and Spin Transfer Technologies. For more information please visitwww.alliedminds.com.

About Singulus Technologies

SINGULUS TECHNOLOLOGIES is the only company worldwide providing the complete value chain for all Optical disc formats: Mastering, Molding, Replication.  SINGULUS will considerably expand its activities in the Solar segment and intensify its market activities. Accordingly, new equipment for the photovoltaics industry will be introduced to the market. The company’s target is to position itself at the forefront for the introduction of new technologies with respect to silicon as well as thin-film solar technology.

Since entering into the business area of thin film deposition tools for magneto – electronic applications, SINGULUS is manufacturing the second generation of their TIMARIS PVD bridge tool, capable of handling all wafer sizes up to 300mm diameter. Besides MRAM technology, SINGULUS has shipped and qualified a number of systems to the Hard Disk Drive industry for the volume production of Thin Film Heads (TFHs).