Visualant & Intellectual Ventures Join Forces to Accelerate Development of ChromaID Applications; SDKs Begin Shipping the Wee...
November 14 2013 - 9:00AM
Marketwired
Visualant and Intellectual Ventures Join Forces to Accelerate
Development of ChromaID Applications; SDKs Begin Shipping the Week
of November 18
Visualant Will Host a Conference Call Today at 2:30 p.m. PT to
Discuss New Strategic Partnership
SEATTLE, WA--(Marketwired - Nov 14, 2013) - Visualant, Inc.
(OTCQB: VSUL), a leading provider of disruptive light-based
technologies, and Intellectual Ventures (IV), the global leader in
the business of invention, have formed a strategic partnership to
advance the commercialization of Visualant's patented ChromaID™
technology through product applications and IP development.
ChromaID is a breakthrough light-based identification and
measurement technology, with the potential to 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 these new ChromaID
applications.
"Our new partnership with Intellectual Ventures is a tremendous
validation of our technology," said Visualant founder and CEO Ron
Erickson. "Partnering with IV puts our technology in the hands of
the world's strongest IP development company, and its network of
inventors and engineers.
"With the anticipated expansion of Visualant's intellectual
property, we expect to benefit immensely from IV's global invention
network, and highly successful business development and IP
licensing teams. With IV's assistance, we will put ChromaID
technology into the hands of the world's most innovative people at
companies with tremendous capital and development resources, giving
us great confidence that this disruptive technology will be soon be
deployed in real-world applications."
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 ChromaID
Scanners and SDKs are being manufactured and scheduled for
availability in early 2014.
"Visualant's significant research and development investment has
resulted in a truly revolutionary technology in ChromaID," said Tim
Londergan, head of commercial development for the Invention
Development Fund at Intellectual Ventures. "We plan to expand the
ChromaID patent portfolio as we develop innovative commercial
applications."
In addition to traditional IP licensing deals, companies work
with IV's in-house inventors as well as its network of more than
4,000 inventors across ten countries to solve near-term technical
issues and invent the technologies that will differentiate
next-generation products from the competition. IV's IP portfolio
includes nearly 40,000 patent assets across more than 50 fields of
technology.
Conference Call Visualant's president and CEO Ron Erickson will
host a conference call today (November 14, 2013) at 2:30 p.m.
Pacific time to discuss the strategic partnership. Tim Londergan,
head of commercial development for the Invention Development Fund
at Intellectual Ventures, will participate on the call. A question
and answer session will follow the prepared remarks.
Date: Thursday, November 14, 2013 Time: 2:30 p.m. Pacific time
(5:30 p.m. Eastern time) Dial-in number: 1-877-941-2321
International number: 1-480-629-9666 Conference ID: 4650657
The presentation will be webcast live and available for replay
via the Investors section of Visualant's website at
www.visualant.net.
Please call the conference telephone number 5-10 minutes prior
to the start time. An operator will register your name and
organization. If you have any difficulty connecting with the
conference call, please contact Liolios Group at
1-949-574-3860.
A replay of the call will be available after 8:30 p.m. Pacific
time on the same day through December 14, 2013.
Toll-free replay: 1-877-870-5176 International replay:
1-858-384-5517 Replay PIN: 4650657
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 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.
Safe Harbor Statement "Safe Harbor" Statement under the Private
Securities Litigation Reform Act of 1995. This release contains
forward-looking statements regarding expectations for future
financial performance, which involve uncertainty and risk. It is
possible the Company's future financial performance may differ from
expectations due to a variety of factors including, but not limited
to (i) exposure to various risks related to our need for additional
financing to support our technology development, ongoing operations
and pay our debts; (ii) the sale of significant numbers of our
shares; (iii) a volatile market price for our common stock; and
(iv) risks associated with our Private Placement which closed June
14, 2013. It is not possible to foresee or identify all such
factors. Any forward-looking statements in this report are based on
current conditions, expected future developments and other factors
it believes are appropriate in the circumstances. Prospective
investors are cautioned that such statements are not a guarantee of
future performance and actual results or developments may differ
materially from those projected. The company makes no commitment to
update any forward-looking statement included herein, or disclose
any facts, events or circumstances that may affect the accuracy of
any forward-looking statement.
Visualant Investor Contact: Scott Liolios or Matt Glover Liolios
Group Investor Relations Email Email Contact Phone +1 (949)
574-3860 Visualant Press Contacts: Hal Bringman Email Email Contact
Desk +1 (206) 299-0622 ext 801 Mobile +1 (310) 210-8011 Skype
halbringman Tina Qunell Email Email Contact Mobile +1 (206)
919-9652 Intellectual Ventures Press Contact: Nick Gibson Email
Email Contact Desk +81 (0)3 3769-2620 Mobile +81 (0)90
1509-2417
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