ID Tags Get Funding
A company that manufactures covert authentication technology for the pharmaceutical and other markets has completed $12.7 million in equity financing.
Isotag Technology Inc. (Dallas) manufactures "molecular tags," markers that are invisible and impossible to copy, according to the company.
The financing will enable Isotag to develop new covert identification technologies, launch a Web-based information system to track data throughout the supply chain, and continue aggressively pursuing new markets.
Isotag sees the funding as an endorsement of its technology and a sign of the authentication industry's growing importance.
The lead investor of the new funding is Manti Resources Inc. (Corpus Christi, TX), an oil and gas holding company with a stake
in several new-technology firms. Isotag's patents are a result of $300 million worth of research and development funded by the U.S. Department of Energy's Los Alamos National Laboratory (Los Alamos, NM) and Eastman Chemical Co. (Kingsport, TN).