Advance Nanotech Subsidiary Signs Agreement with IMS Corporation; Singular ID Scanners to Authenticate Tags Containing Magnetic Signatures to be Commercially Manufactured by Established Singapore-Based Company
The Singular ID scanners are a key component of Singular ID's brand protection system that comprises tags containing magnetic features that are prohibitively difficult to counterfeit and so confer a unique identity to an object. This "signature" or "fingerprint" is detected using the scanner and verified against a database. If a match is found, the scanner reports details of the product, enabling an inspector, distributor or indeed consumer to confirm the object's authenticity. Recently, Singular ID announced that it had connected a portable prototype scanner to a commercially available mobile phone and successfully demonstrated its operation from three continents.
"The next step is to move quickly from prototype to commercial product, and in doing so, we wanted to work closely with a company that has a proven track record in building quality electronic devices in both small and large volumes. IMS Corporation, and its sister companies under the AIM Corp Group clearly fall into this category", stated Dr Peter Moran, Singular ID's Chief Technology Officer.
Singular ID is already working on an evaluation kit to enable prospective customers to trial the full system for a specific application. The first generation of scanners manufactured as a result of this agreement is expected to be used within this kit and should be available in the second quarter of 2006.
Dennon Chai, General Manager of IMS Corporation explained, "Signing this agreement with Singular ID is an important event for IMS. We are constantly looking for new high technology market opportunities that can leverage on our design and high-end box build capabilities. Consequently, we are excited to be working with Singular ID, helping them to rapidly commercialize their brand protection system."
The alliance between Singular ID and IMS Corporation is likely to strengthen and extend as the two companies collaborate further. Already, IMS plans to help market Singular ID's products and services at a forthcoming trade exhibition in Germany. ComPaMED, the 14th International Trade Fair for Components, Parts and Raw Materials for Medical Manufacturing will be held 16th-18th November in Dusseldorf, and addresses a market that both companies are targeting.
Advance Nanotech is currently funding 20 portfolio companies in the electronics, biopharma, and materials industries. The firm provides services ranging from funding, to human capital and research equipment essential to ensuring that the most promising companies can accelerate the path to rapid commercialization. In this way, investor exposure to any particular technology is mitigated with Advance Nanotech retaining the option to increase investment in those technologies that successfully mature.
About Singular ID Pte. Ltd.
Head-quartered in Singapore, Singular ID is a nanotechnology spin-off company that was founded to commercialise magnetic tagging technology. With a mission to safeguard customers' interests by providing integrated tagging solutions that protect people, brands, corporate images and market share, Singular ID aims to be the leading solution provider for tracing and authenticating items of value. To achieve this, Singular ID works closely with its clients to tailor its technology to meet specific customer requirements. This may involve undertaking pilot projects where beneficial. For companies who wish to understand more about nanotechnology and the applicability of different brand protection technologies, Singular ID also offers a consultancy service to evaluate the options and create a roadmap for their implementation. Singular ID has licensed core technology from the Agency for Science Technology and Research (A*STAR), Singapore.
About IMS Corporation Pte. Ltd.
IMS Corporation is a specialist in high-end, high mix, low and moderate volume box build with in-house design capabilities and experience with electro-mechanical sub-assemblies. Located in Singapore, and a subsidiary of the Singapore Stock Exchange listed Advanced Integrated Manufacturing Corp Group of Companies, IMS Corporation is ISO 9001:2000 and ISO 13485:2003 accredited.
About Advance Nanotech, Inc.
Advance Nanotech Inc. is dedicated to ensuring nanotechnology discoveries reach maximum market potential through successful commercialization. Advance is the trusted guide to commercial success for nanotech entrepreneurs spanning the globe, partnering with leading universities to provide scientists and researchers with mission critical infrastructure support to transform their discoveries to marketable solutions. The organization provides a range of services and support including financing, leadership assets and counsel on intellectual property, licensing and regulatory issues. With a portfolio of 20 companies developing technologies which offer potentially breakthrough nanotechnology discoveries in the electronics, biopharma and materials sectors, Advance's goal is to transform the potential for nanotechnology discoveries into innovative products that further evolve existing industries and enable new markets.
This document contains forward-looking statements by Advance Nanotech regarding its expectations as to its business, and involves risks and uncertainties and may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
Such statements are based on management's current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those addressed in the forward-looking statements.
Factors that may cause such a difference include, but are not limited to, problems and risks associated with developments in the nanotechnology industry in general and in Advance Nanotech's products under development in particular; the potential failure of Advance Nanotech's products under development to prove safe and effective in application; uncertainties inherent in the early stage of Advance Nanotech's products under development; failure to successfully implement or complete research programmes; failure to receive marketing clearance from regulatory agencies for our products under development; acquisitions, divestitures, mergers, licenses or strategic initiatives that change Advance Nanotech's business, structure or projections; the development of competing products; uncertainties related to Advance Nanotech's dependence on third parties and partners; and those risks described Advance Nanotech 's filings with the SEC. Advance Nanotech disclaims any obligation to update these forward-looking statements.
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