WILMINGTON, Mass., April 7, 2014 /PRNewswire/ -- Implant
Sciences Corporation (OTCQB:IMSC), a high technology supplier of
systems and sensors for homeland security and defense markets,
today announced it has signed its second Cooperative Research and
Development Agreement (CRADA) with the U.S. Department of Homeland
Security's Transportation Security Laboratory (TSL). The Company's
first CRADA with the TSL for its QS-B220 desktop explosives trace
detector (ETD) began November, 2011. The purpose of the new
12-month CRADA is for the TSL to use the QS-B220, having passed TSA
qualification testing, as a gold standard explosives trace
detector. Information gathered with the QS-B220 at the TSL will be
shared with Implant Sciences and used by the Company to develop
next generation trace detection technology.
TSL's core mission is to enhance homeland security, including
the research, development and validation of solutions to detect and
mitigate the threat of improvised explosive devices (IEDs). TSL,
part of the DHS Science and Technology Directorate (S&T),
establishes CRADAs as public-private partnerships designed to
expeditiously mature and deploy security technologies and to
prepare products to achieve Transportation Security Administration
(TSA) certification/qualification.
TSL conducts research, test and, evaluation at its 110
acre facility located at the FAA William J. Hughes Technical
Center, Atlantic City
International Airport, New Jersey.
"Our first CRADA with the TSL provided critical input, which was
used to improve the performance of our QS-B220 to meet the TSA's
standards," stated Implant Sciences' Vice President of Technology,
Todd Silvestri. "We believe that the
partnership that was developed and the valuable feedback we
received from the endeavor helped us tremendously in the QS-B220
attaining the TSA's qualified status for air cargo screening and in
passing the QT&E portion of the TSA qualification for
checkpoint and checked baggage."
"We believe these studies with the TSL will help to leverage the
QS-B220's capabilities and will prove essential to advancing the
standards of the trace detection market," stated Implant Sciences'
President and CEO Glenn Bolduc. "We
are proud to work with the Department of Homeland Security and we
look forward to furthering our relationship with the TSL and our
technology with this new CRADA."
About Implant Sciences
Implant Sciences is the leader in next generation
Explosives Trace Detection (ETD) technology. In January 2013,
the Company became only the third ETD manufacturer, and the sole
American-owned company, to currently have product approval from
the US Transportation Security Administration. Implant
Sciences has developed proprietary technologies used in its
commercial explosives and drugs 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, in addition to receiving TSA
qualification for air cargo screening, the Company's QS-B220 has
also received STAC certification, 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),
and the GSN 2013 Homeland Security Award for "Best Explosives
Detection Solution". For further details on the Company and its
products, please visit the Company's website
at http://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
we will be required to repay all of our indebtedness to our secured
lenders by March 31, 2015; if we are
unable to satisfy our obligations and to raise additional capital
to fund operations, our secured lenders may seize our assets and
our business may fail; we continue to incur substantial operating
losses and may never be profitable; our independent registered
public accounting firm has expressed substantial doubt as to our
ability to continue as a going concern; 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; 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; our business is subject to intense
competition; our markets are subject to rapid technology change and
our success will depend on our ability to develop and introduce new
products; we may not be able to retain our management and key
employees or identify, hire and retain additional personnel as
needed; 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 our 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.
Contact:
Implant Sciences Corporation
Company Contact:
Glenn Bolduc, CEO
978-752-1700
or
Investor Contact:
Laurel Moody
646-810-0608
SOURCE Implant Sciences Corporation