Authentication Tag Wins 2010 North American Pharmaceutical and Biotechnology Innovation of the Year by Frost & Sullivan
TruTag Technologies, a spinout of Cellular Bioengineering Inc., was named the 2010 North American Pharmaceutical and Biotechnology Innovation of the Year by Frost & Sullivan. TruTag microtags are optically encoded microcrystals made of pure, nanoporous silica. Deemed Generally Regarded as Safe (GRAS) by FDA, the TruTags are edible and can be used to authenticate medicine.
"We are pleased to recognize TruTags as an innovative and comprehensive security solution for maintaining the integrity of drug supplies," said research analyst Misty Hughes of Frost & Sullivan in a press release. "Our independent research teams found that the ability of TruTags to integrate security at the pill level by using a spectral signature chosen from over a trillion possible codes was a distinctive and cost-effective security solution to the problem of fake prescription medicines, which totals $30 to $50 billion annually."
Resistant to heat, TruTag technology can also be mixed into coatings, dyes, or ink, reports Michael O'Neill, PhD, CTO of TruTag Technologies, in the release. Each TruTag features a custom signature that can be used to authenticate products. "Tagging each item costs less than a small fraction of a penny," the company reports in the release.
"We are spinning out TruTag Technologies as an independent company in order to focus on developing a full spectrum of market applications for the TruTag platform," said Hank Wuh, MD, MPH, CEO of Cellular Bioengineering Inc., the parent company of TruTag Technologies, in the release. "TruTag microtags will have a fundamental impact on optimizing product safety and integrity for the pharmaceutical, biotechnology, and functional foods industry."
Frost & Sullivan's Best Practices Award recognizes companies in a variety of markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.