VANCOUVER, BRITISH COLUMBIA, Jun. 8, 2010 (Marketwire) -- T-Ray Science, Inc. (TSX VENTURE:THZ) -
Editors Note: There is a photo associated with this press release.
T-Ray Science, Inc. ("T-Ray Science" or the "Company"), announces a milestone achievement with the completion of the pre-production prototype of Authenticare(TM), a pharmaceutical tablet analyzer for the authentication of solid dosage pharmaceuticals. The target markets for the device are pharmacies, consumers, law enforcement, corporate security, and others who need to identify counterfeit drugs that otherwise appear identical to the brand name drugs. According to the Center for Medicines in the Public Interest, global counterfeit drug sales will reach US $75 billion by 2010.
"Counterfeit drugs are a global, systemic problem and a great danger to public health in both developed and developing nations," said Thomas Braun, CEO of T-Ray Science. "From the seeds of invention at the University of Waterloo, we have developed this innovative new product. Our goal is to offer a counterfeit drug detector which would be affordable in Asia, Africa and South America where the need is the greatest. Our product will cost about 75% less than existing counterfeit drug detectors, and with the completion of the pre-production prototype, we are one step closer to market."
With Authenticare(TM), T-Ray Science is seeking to bring an affordable, portable, non-destructive solution to market which allows users to easily verify tablet authenticity. Authenticare(TM) connects to a standard laptop computer for control and readout.
The technology Authenticare(TM) is based on is a result of a successful collaboration with scientists at the University of Waterloo. In 2008, T-Ray Science filed two patent applications for hardware and software used by Authenticare(TM). Beginning in 2009, the design and production services of Sanmina-SCI Corporation of California were also utilized in the development of Authenticare(TM). The device will now undergo rigorous validation, safety, and field testing for the remainder of 2010.
About T-Ray Science, Inc.
T-Ray Science, Inc. is a medical device company centered on the development and commercialization of innovative products for skin cancer detection, and counterfeit drug detection. The Company's patented and patent pending imaging and spectroscopy technologies are the foundation for the development of the Company's products.
Forward Looking Statements
This release contains forward-looking statements, including, but not limited to, statements regarding the future commercialization of the Company's products, the market demand for these products and the proprietary protections the Company will obtain with regard to the technology, all of which statements are subject to market risks, and the possibility that the Company will not be able to obtain patent protection or obtain sufficient customer demand. These statements are made based upon current expectations and actual results may differ from those projected due to a number of risks and uncertainties.
To view the photo associated with this press release please visit the following link: http://media3.marketwire.com/docs/trayfull.JPG
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.