Sense Holdings Expands Licensing and Patent Rights to Handheld Explosives, Chemical, Biological and Narcotics Detector
|Developer of Advanced Detection Device Using MEMS Technology Now Owns Exclusive Worldwide Marketing Rights to All Security Applications|
“We feel the core detection technology originally developed at ORNL has now enabled our successful, collaborative development of a competitively advantageous handheld detection system that will not only be extremely accurate, but also extremely affordable”
Sense Holdings, Inc. (OTCBB:SEHO) (FWB:OUP), a developer of next-generation biometric and explosive detection security technologies for government and commercial security markets, today announced that it has expanded its worldwide licensing rights to include all relevant technologies and applications related to a compact, handheld, real time explosive detection device in development.
The device, designed to have unparalleled sensitivity and cost-effectiveness based on the cutting-edge science of MEMS technology, is being jointly developed by Sense and the Oak Ridge National Laboratory (ORNL), from whom the Company has now acquired all relevant intellectual property rights. According to the terms of the parties' expanded licensing and patent agreement, Sense now owns all worldwide exclusive licenses and patents related to the sale, manufacturing and distribution of this handheld detection system, as well as to all its potential applications for the detection of landmines, unexploded ordnance, chemical warfare agents and narcotics. In addition, the Company has rights to acquire the field of use for all biological warfare agents. Formerly, the Company was a co-exclusive licensee, and on a more limited field of use basis.
"These additional licenses and patents complement the intellectual property that Sense initially had acquired in 2001 through the acquisition of Micro Sensor Technologies, Inc.," said CEO Dore Perler. "Our broader, and now totally exclusive, expanded IP rights to this portable multipurpose detector reinforce our viability as a leading provider of innovative, comprehensive solutions to the burgeoning Homeland Security market."
Sense has an established umbrella of products that are being deployed to the Homeland Security market, including novel biometric, micro-sensor identification and RFID asset tracking solutions, but this expanded IP agreement with ORNL could substantially reinforce its competitive edge and business strategy for accelerated, high-growth revenues in the marketplace.
"We feel the core detection technology originally developed at ORNL has now enabled our successful, collaborative development of a competitively advantageous handheld detection system that will not only be extremely accurate, but also extremely affordable," Mr. Perler said.
The Company plans to eventually deploy the detection system with different options and varying detection capacities to governments, airports, and law enforcement agencies, as well as to private companies, stadiums, coliseums, and other venues and targets in the United States and around the world. The first-generation detector is expected to be brought to market by mid-2006.
ORNL is a multi-program science and technology laboratory managed for the U.S. Department of Energy by UT-Battelle, LLC. Scientists and engineers at ORNL conduct basic and applied research and development to create scientific knowledge and technological solutions that strengthen the nation's leadership in key areas of science; increase the availability of clean, abundant energy; restore and protect the environment; and contribute to national security. ORNL also performs other work for the Department of Energy, including isotope production, information management, and technical program management, and provides research and technical assistance to other organizations.
About Sense Holdings, Inc.
Sense Holdings is a developer of next-generation biometric identification systems, and nanotechnology-based micro-sensor technologies for government, military and commercial security marketplaces. The Company's wholly-owned subsidiary, Sense Technologies, deploys proprietary biometric technology based on advanced fingerprint technology and biometric integration to create a range of solutions for prisoner identification, time and attendance, access control applications and other markets. Sense's major customers include the U.S. Army, the U.S. Department of Corrections, American Airlines and others. A second wholly-owned subsidiary, MSTI, is an emerging nanotechnology-based explosives detection technology development division developing a pipeline of advanced bomb detection technologies, including a prototype handheld explosive detection wand device for Homeland Security applications in airports and other security checkpoints. This hand-held detection alternative is designed to be a cost-effective solution with extremely high detection sensitivity and real-time operability. Currently, a proof-of-principle prototype is undergoing further research and development at the U.S. Oak Ridge National Laboratory. For investor-specific information about Sense Holdings, including recent share price data and news announcements, please visit http://www.trilogy-capital.com/tcp/sense. To view or download an Investor Fact Sheet about the Company, please visit http://www.trilogy-capital.com/tcp/sense/factsheet.html. Sense is also listed on the Frankfurt Stock Exchange under the ticker symbol, OUP. For other information, please visit http://www.senseme.com.
This presentation includes statements that may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, the ability of the Company to develop effective new products and receive governmental approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's filings with the U.S. Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.