Visualant,
Inc. (OTCQB: VSUL), a leading provider of disruptive
light-based technologies, announced today that Intellectual Ventures
(IV) business development team has provided an introduction of the
Visualant ChromaID technology to a Chinese instrumentation company that
has led to a signed collaboration agreement.
Visualant and IV entered into a strategic relationship in late 2013. In
addition to advancing the Visualant intellectual property with the
filing of ten patents, which have been exclusively licensed to the
Company, IV is also pursuing commercialization opportunities for the
Visualant technology through their own business development process.
The collaboration agreement just executed between Visualant and Yantai
Dongrun Instrument Co., Ltd is the first of many expected opportunities
created by Intellectual Ventures. Yantai Dongrun is a leading developer
and manufacturer of precise instrumentation, automation and sensor
products. They will be exploring ways in which the Visualant ChromaID
technology can be utilized in the marketplace.
ChromaID is a transformative, light-based identification and
verification technology, with the potential to disrupt traditional
spectral analysis technology and other costly methods of identification,
authentication and diagnosis.
Ron Erickson, Visualant Founder and CEO said, “In addition to working
with us to expand our intellectual property portfolio, Intellectual
Ventures has begun to open doors for our ChromaID technology around the
world through their global business development network. This is the
first of many business development announcements which we expect to come
from our relationship with IV.”
Eric Bell, Senior Director, Investment Strategy at the Invention
Development Fund of Intellectual Ventures, said, “We will continue to
work with Visualant to assist them in exploiting their ChromaID
technology and finding marketplace commercialization opportunities for
their technology.”
About Yantai Dongrun Instrument Co., Ltd.
Yantai Dongrun is a leading manufacturer of environmental analysis
instruments, material (liquid) level meters, optic-mechanical
integration equipment and automation control systems. Based in Shandong
Province, China, the Company has received several awards and
certifications for their high quality systems and products. For more
information on Yantai Dongrun go to http://www.cndongrun.com/en/.
About Intellectual Ventures
Founded in 2000, Intellectual Ventures (IV) is the global leader in the
business of invention. IV collaborates with leading inventors, partners
with pioneering companies and invests both expertise and capital in the
process of invention. IV’s mission is to energize and streamline an
invention economy that will drive innovation around the world. For more
information on IV, go to www.intellectualventures.com.
About IVIN
The Intellectual Ventures Invention Network (IVIN) is a collaborative
community of scientific and technical experts, inventors and
entrepreneurs who work together to create, improve and evaluate
inventions. IVIN membership provides access to financial incentives and
the global resources of Intellectual Ventures, an invention capital
company with one of the largest and fastest-growing intellectual
property portfolios in the world. Members can submit their inventions to
IV for patenting and monetization or get paid for reviewing new
inventions, analyzing existing patents or inviting other inventors to
join IVIN. By supporting good ideas and the people who develop them,
IVIN encourages a continual supply of useful and valuable inventions.
About Visualant, Inc.
Visualant™ is a public company whose shares trade under the stock symbol
“VSUL.” The Visualant Spectral Pattern Matching™ (SPM) technology
directs structured light onto a substance or material, through a liquid
or gas, or off a surface, to capture a unique ChromaID™. A ChromaID can
be used to identify, detect, or diagnosis markers invisible to the human
eye. ChromaID scanner modules can be integrated into a variety of mobile
or fixed-mount form factors. The patented, award-winning technology is
disruptive, making it possible to effectively conduct analyses in the
field that could only previously be performed by large and expensive
lab-based tests. For more information on Visualant, visit the company’s
new website at www.visualant.net.
Copyright Business Wire 2015