WuXi PharmaTech Corporate Venture Fund Invests in TruTag Security Platform for Drug Safety
Apr 01, 2014
SHANGHAI and HONOLULU, April 1, 2014 -- WuXi PharmaTech (Cayman) Inc. (NYSE: WX), a leading pharmaceutical, biotechnology, and medical device R&D services company with operations in China and the United States, and TruTag Technologies, Inc., developer of the leading edible, covert security platform to address the global product counterfeiting challenge, today announced that WuXi Corporate Venture Fund has made an investment in TruTag. In addition, WuXi and TruTag will explore collaborations to offer WuXi's global customers the TruTag on-dose authentication solution to help prevent counterfeiting and to enhance drug safety.
TruTag microtags ("TruTags®") are inert and edible and can integrate into the fabric of a product without packaging or labels - much like fingerprints on a human being - for the authentication of food, drugs, electronics, consumer products, and industrial components. Millions of optical patterns can be embedded into a TruTag, a dust-sized particle smaller than the width of a human hair. Using this technology, brand owners, including pharmaceutical companies, will be able to field-read finished tablets circulating in the wholesale and retail market to determine the authenticity and provenance of medicines, including detailed information such as site and date of manufacture, lots, and other critical data.
"TruTag is very excited to work with WuXi to explore the development of our on-dose authentication solution for WuXi's pharmaceutical customers," said Dr. Hank C.K. Wuh, Chairman of TruTag Technologies. "This innovative technology is an important new weapon in fighting the growing global problem of counterfeit drugs."
"WuXi is pleased to invest in this cutting-edge technology and to explore its further development to enhance patient safety and protect our customers' intellectual property," said Dr. Ge Li, Chairman and CEO of WuXi PharmaTech.
About WuXi PharmaTech
WuXi PharmaTech (NYSE: WX) is a leading pharmaceutical, biotechnology, and medical device R&D outsourcing company, with operations in China and the United States. As a research-driven and customer-focused company, WuXi PharmaTech provides pharmaceutical, biotechnology and medical device companies with a broad and integrated portfolio of laboratory and manufacturing services throughout the drug and medical device R&D process. WuXi PharmaTech's services are designed to help its global partners in shortening the cycle and lowering the cost of drug and medical device R&D. The operating subsidiaries of WuXi PharmaTech are known as WuXi AppTec.
About TruTag Technologies
TruTag Technologies is the innovator of an edible security platform to address the global product counterfeiting challenge. The TruTag® security platform will help to provide superior brand protection, enhance the safety and traceability of food and medicine, improve tracking and logistics, assure product quality, and enable the Internet of Things. TruTag Technologies is a SKAI Ventures portfolio company. For more information, please see www.TruTags.com. TruTag Technologies, Inc. is a 2014 Technology Pioneer, selected by the World Economic Forum. This prestigious honor was awarded to the world's most innovative and influential technology companies with the promise of significantly impacting the way business and society operates. TRUTAG and TRUTAGS are registered trademarks of TruTag Technologies, Inc. ©2014 TruTagTechnologies, Inc. All rights reserved.
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