NVE gets DARPA cash for nanoscale magnetics

Jan. 26, 2004 — NVE Corp. (Nasdaq: NVEC, News, Profile, Web), an Eden Prairie, Minn., developer of spintronics technology, has been awarded about $450,000 by the Defense Advanced Research Projects Agency, according to a news release.

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The contract to develop advanced biomagnetic interfacing concepts was originally announced in August 2002. NVE has received about $1.24 million from the deal, including the DARPA award announced today.

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The project’s goal is to demonstrate nanoscale magnetics at the cellular and molecular level. Its next phase includes tailoring devices for lab-on-a-chip applications.

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