SOURCE: Implant Sciences Corporation
WILMINGTON, MA--(Marketwire - Jul 17, 2012) - As it continues to increase the global reach of its explosives trace detection equipment, Implant Sciences Corporation (OTCQB: IMSC) (PINKSHEETS: IMSC), a high technology supplier of systems and sensors for homeland security and defense markets, today announced it has received the grant of a new patent by the Patent Office of the Russian Federation. The patent covers a method of increasing the amount of explosive materials collected from a surface using the Company's patented non-contact vortex attractor technology.
"Our Quantum Sniffers™ detect a wide range of trace explosives without physical contact between the device and the inspected person or item. In addition to the benefits associated with protecting privacy in passenger screening, non-contact sample collection enables operational concepts that just aren't possible using wipe techniques," stated Todd Silvestri, Vice President of Technology at Implant Sciences. "With this patent, we are extending the intellectual property protection surrounding our innovative sampling technologies."
Dr. William McGann, Implant Sciences' COO, added, "I'm very proud of our technology team and their continued ability to innovate at a brisk pace. The advancements being made by our team are foundational for the next generation of explosives trace detection technology."
According to a recent Frost & Sullivan report, the BRIC countries (Brazil, Russia, India, and China) together already account for 13% of global defense expenditures, making them the second largest consumer of defense goods and services in the world, after the United States. The report also quoted industry experts describing the BRIC countries as the hot spots for defense industries, stating that defense spending is expected to escalate at an accelerated pace compared to the rest of the world. The Quantum Sniffer QS-H150 was certified by the Russian Ministry of Transportation and deployed at Moscow's Sheremetyevo International Airport in 2007.
About Implant Sciences
Implant Sciences develops, manufactures and sells sophisticated sensors and systems for Security, Safety, and Defense (SS&D) markets. The Company has developed proprietary technologies used in its commercial explosive and narcotics trace detection systems which ship to a growing number of locations domestically and internationally. Implant Sciences' QS-H150 portable explosives trace detector has received Qualified Anti-Terrorism Technology Designation and the Company's QS-B220 desktop explosives and drugs trace detector has received a Developmental Testing & Evaluation (DT&E) Designation by the U.S. Department of Homeland Security under the Support Anti-terrorism by Fostering Effective Technology Act of 2002 (the SAFETY Act). For further details on the Company and its products, please visit the Company's website at www.implantsciences.com.
Safe Harbor Statement
This press release may contain certain "forward-looking statements," as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to risks and uncertainties that could cause the Company's actual results to differ materially from the forward-looking statements. Such risks and uncertainties include, but are not limited to, the risks that our explosives detection products and technologies (including any new products we may develop) may not be accepted by the Transportation Security Administration or by other U.S. or foreign government and law enforcement agencies or commercial consumers of security products; economic, political and other risks associated with international sales and operations could adversely affect our sales; our business is subject to intense competition and rapid technological change; the risk that we will be required to repay all of our indebtedness to our secured lender, DMRJ Group, by September 30, 2012; that if we are unable to satisfy our obligations to DMRJ and to raise additional capital to fund operations, DMRJ may seize our assets and our business may fail; the risk that we continue to incur substantial operating losses and may never be profitable; the risk that liability claims related to our products or our handling of hazardous materials could damage our reputation and have a material adverse effect on our financial results; the risks that our markets are subject to technological change and that our success depends on our ability to develop and introduce new products; the risk that we may not be able to retain our management and key employees or to identify, hire and retain additional personnel as needed; the risks that we may not be able to enforce our patent and other intellectual property rights or operate without infringing on the proprietary rights of others; and other risks and uncertainties described in our filings with the Securities and Exchange Commission, including its most recent Forms 10-K, 10-Q and 8-K. Such statements are based on management's current expectations and assumptions which could differ materially from the forward-looking statements.