a division of NanoInk®
that focuses exclusively on delivering brand protection solutions to fight illegal
diversion and counterfeiting, announced today that the Food and Drug Administration
(FDA) has issued approval to a NanoGuardian client to use NanoGuardian's cutting
edge NanoEncryption(TM) technology as an on-dosage, brand protection technology.
NanoGuardian's NanoEncryption technology provides pharmaceutical manufacturers
with true forensic, multi-layered, authentication and tracing brand protection
at the individual dosage level.
"FDA approval of our NanoEncryption technology is an important milestone
for public health and the continued fight to secure the pharmaceutical supply
chain," said James M. Hussey, CEO, NanoInk. "This novel technology
is virtually impossible to copy and creates an impenetrable barrier to reverse
engineering by counterfeiters. Not only will NanoGuardian help protect the pharmaceutical
supply chain, but we also see additional applications for many other product
categories that are threatened by illegal diversion and counterfeiting."
NanoGuardian's NanoEncryption technology works directly on tablets, capsules
and vials and captures a virtually unlimited amount of data including manufacturing
information, dosage strength, expiration date, and the targeted site of distribution
including country, state and specific distributor if desired. NanoGuardian's
NanoEncryption technology is complementary to on-package brand protection options
such as RFID and 2-D Barcodes, providing a multi-layered, protective approach
for each individual dose from plant to patient.
According to a 2006 report from the World Health Organization, an estimated
$40 billion in counterfeit pharmaceuticals and an additional $15 billion in
diverted products enter the pharmaceutical supply chain each year causing harmful,
and at times, devastating consequences for many patients and their families.
"We see on-dosage brand protection initiatives such as NanoGuardian's
NanoEncryption technology as an important layer in securing the pharmaceutical
supply chain especially given that the vast majority of medications dispensed
by pharmacists are repackaged or have the potential to be repackaged,"
added Dean Hart, executive vice president, commercial operations, NanoGuardian.
Posted June 24th, 2008