Brand Security Solutions Provider Takes Stake In Advanced Photochemical Development Company
Boston, MA - August 07, 2001
GenuOne Inc., a leading provider of brand security solutions for
counterfeiting, product diversion and licensing fraud, today announced
its investment in PhotoSecure, Inc. a company offering a new group of
high-performance photochemical systems which were developed and
patented by faculty members of the Boston University Photonics Center.
GenuOne has provided PhotoSecure with one million dollars
through its investment division, GenuOne Technology Capital (GTC). This
business development support is enabling PhotoSecure to dedicate its
attention to developing security-focused applications for the
commercial market.
"PhotoSecure is a strategic investment for us," said Jeffrey
Unger, CEO of GenuOne. "It enables us to integrate the most advanced
thinking in photochemical technology into GenuOne's portfolio of
BrandsecureTM solutions that include measures for authentication,
tracking and control. Our partnership with PhotoSecure will provide
advanced, results-driven solutions for the brand erosion,
counterfeiting and diversion issues facing major global brands in
today's commercial marketplace."
PhotoSecure supplies proprietary inks and dye platforms that
include covert "unique spectral signatures" applied to product
manufacturers' labels, packaging materials, products and security
documents. The company also supplies hand-held detectors that can
recognize these unique signatures. The detectors have data
communication, analysis, storage and retrieval capability allowing key
executives to monitor inventories and brand protection programs on an
ongoing basis.
"Incubation in the Photonics Center has allowed us to navigate
the valley of death that claims the life of most new companies," said
David J. Phillips CEO of PhotoSecure, Inc. "With the Photonic Center's
support we have achieved proof of concept and developed commercial
products during this incubation period. Partnering with GenuOne enables
us to move to the next level. GenuOne has exactly the right strategy
and people to achieve great success in brand protection. We look
forward to an exciting and most beneficial journey with GenuOne."
GenuOne is targeting a number of markets with the kind of
technology solutions that PhotoSecure provides. These markets include
sporting goods and equipment, brand name apparel, cosmetics,
pharmaceuticals, business consumables and luxury brands.
GenuOne's GTC Division
GenuOne's GTC division is the source for GenuOne's current and
future technology needs. It offers technology development companies
access to GenuOne's applications, integration, capital and business
development capabilities. GTC seeks out companies that posses a mission
to build advanced machine-readable solutions for authentication,
tracking and control, in both the physical world and online.
About GenuOne
GenuOne is an innovative provider of
comprehensive brand security solutions, offering a fully integrated
approach to intellectual property protection. Its technology and
integration services maximize brand dominance and minimize
counterfeiting, product diversion, licensing/royalty fraud and
intellectual property theft in the physical world and on the Internet.
GenuOne's authentication, tracking and control technologies combined
with its integration services allow companies to monitor products
throughout the supply chain cycle, from the initial manufacturing
process to the retailers' shelves, as well as on the Internet. GenuOne
has developed strategic, Brandsecure™ solutions for companies including
New Balance Athletic Shoe, Titleist and Footjoy Worldwide and Xerox
Corporation. Its solutions have empowered these companies to protect
the integrity of their brands. Visit the GenuOne website at www.genuone.com.
About the Boston University Photonics Center
Boston University launched the Photonics Center in 1994 as a new model
for university-industry collaboration, bridging the gap between basic
research and practical application. Its mission is to forge business
partnerships with investors and industrial partners, turning emerging
concepts in photonics technology into commercial products, and creating
a growing stream of new companies. Dr. Donald C. Fraser is director of
the Photonics Center; Dr. Shawn Burke is deputy director. The Photonics
Center has already graduated Mosaic Technologies and PhotoDetection
Systems from the Photonics Business Incubator. Further information
about the Photonics Center and its partners is available at http://www.bu.edu/photonics
About PhotoSecure, Inc.
PhotoSecure, Inc. was formed in 1998 to commercialize a new class of
high performance photochemicals developed and patented by faculty at
the Photonics Center. The company's products center on a range of new
compounds with unique photoluminescent properties that are
characterized by their wavelength dependent excitation response, user
choice of visible emission spectra and selectable emission decay times.
Professor Guilford Jones, PhotoSecure's Chief Technical Officer is a
member of the photonics faculty and professor of chemistry at Boston
University. Further information about PhotoSecure, Inc. is available at
http://www.photosec.com.
This press release contains forward-looking statements as that term is
defined in the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are subject to risks and uncertainties,
which could cause actual results to differ materially from those
anticipated. The Company assumes no obligation to update the
information contained in this press release.
