Chromatic-based identification and diagnostics technology developer Visualant (OTCQB: VSUL; Seattle, WA) and Intellectual Ventures (IV; Bellevue, WA) have formed a strategic partnership to advance commercialization of Visualant's patented ChromaID technology through product applications and IP development.
ChromaID is a light-based identification and measurement technology that could replace traditional spectral analysis and other costly methods of identification, authentication, and diagnosis.
IV will provide access to its global network of inventors and engineers to develop applications for ChromaID, including solutions for medical diagnostics and food and drug safety. IV has also agreed to file a minimum of 10 patents covering the new applications for the technology.
All of Visualant's currently available ChromaID Scanner and Software Development Kit (SDK) inventory has been allocated and are scheduled to ship the week of November 18. Additional scanners and SDKs are being manufactured and scheduled for availability in early 2014.
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