PhotoSecure and DNA Technologies Team Up to Combat Counterfeiting
October 4, 2004 – Boston, MA – DNA Technologies, a division of CrossOff Incorporated (TSX:OFF), announced today that it had entered into an exclusive sales and marketing agreement with PhotoSecure, a brand protection company based at Boston University’s Photonics Center. PhotoSecure is engaged in the production and distribution of proprietary, time controlled fluorescent dyes and readers for the product authentication market.
Under the terms of the agreement, DNA Technologies will market, sell and license PhotoSecure’s patented SmartDYE™ technologies as part of an integrated product solution.
Product counterfeiting and diversion continues to grow at a steady pace worldwide, and is estimated to represent 5-8% of world trade according to PIRA International – a significant loss of revenues for legitimate manufacturers and licensors. Numerous industries are targeted, including luxury goods, consumer apparel, fashion accessories, sporting goods, software and media. But industries such as pharmaceuticals, auto and aircraft replacement parts are particularly at risk, given the dangers to public health.
“We have collaborated with PhotoSecure on several projects over the past year and have found our technologies and products very complementary,” said Mike Hayes, President of DNA Technologies. “PhotoSecure’s unique optical security taggants provide ‘in the field’ verification for authorized goods, while our DNA tags provide an infinite number of codes or ‘signatures’, and forensic proof of identification. Combining our products, which blend quite comfortably into inks, films and resins, provide highly secure, multi-level protection in a variety of label and packaging substrates.
“DNA Technologies and PhotoSecure have just recently completed comprehensive stability testing, design and quality assurance on a new product, embedding our security taggants into commercial grade, drop on demand (DOD) thermal inkjet cartridges”, commented Dr Guilford Jones, PhotoSecure’s Chief Technology Officer. “This most recent work in product development will allow for easy integration of security features into variable data ‘tag and trace’ systems.”
About DNA Technologies
DNA Technologies is a new breed of security company with a revolutionary DNA-based tracking technology designed to combat counterfeiting, piracy and product diversion. DNA Technologies is a recognized leader in providing security marking and unequaled protection for valuable products, brands and intellectual property using security taggants. DNA’s parent company, CrossOff Incorporated was established in 1963 and is publicly traded on the Toronto Stock Exchange (TSX:OFF). More information is available on their website www.dnatechnologies.com.
PhotoSecure, Inc., was founded in 1998 to commercialize innovative photochemical/ information technologies. Our first goal is to provide manufacturers with cost-effective and production-ready systems for protecting products and brands which are subject to counterfeiting or to unauthorized distribution. PhotoSecure has patented its technology for photoluminescent materials used in the form of inks, dyes and films that can be applied to practically any tangible surface using traditional printing methods. PhotoSecure, Inc. is one of the innovative “spin out” companies spawned at the Photonics Center of Boston University.