NFC OpenSense Technology to Drive Quality Control and Strengthen Brand
as Korea's Medical/Skincare Technology Leader Expands Distribution to Foreign Markets
OSLO, Norway, August 16, 2017 - Thin Film Electronics ASA ("Thinfilm") (OSE: THIN), a global leader in NFC (near field communication) mobile marketing and smart product solutions, today announced a partnership with NEXGEN Biotechnologies, Inc. ("NEXGEN").
NEXGEN, based in Seoul, South Korea, is a leading biotech firm that develops and produces new, protein-based biological materials for the medical and cosmetics industries. The company was founded in 1999.
Through the partnership, NEXGEN will integrate Thinfilm's NFC OpenSense(TM) technology into containers and other packaging in order to monitor shipments throughout the supply chain and address product authentication needs.
As NEXGEN continues to expand distribution into foreign markets, including China, the company is taking a proactive approach in maintaining the integrity of its products and the vast supply chain through which they are delivered. Thinfilm's OpenSense technology will play a critical role, helping NEXGEN to combat counterfeiting, gray market diversion, unauthorized refills, and other fraudulent practices. Trusted partners and end customers will be able to tap on packaging with a smartphone or NFC reader to determine - via Thinfilm's Authenticator App and the CNECT cloud platform - whether the product is factory sealed or has been tampered with. Taps along the distribution route will also create a supply-chain audit trail that provides critical information such as date, time, and location of the spot inspections.
"As an exporter of advanced materials, we were looking for ways to build trust in our products with domestic and overseas partners, and decided to use Thinfilm's NFC OpenSense tags." said Sunlee, CEO of NEXGEN. "We feel the technology will help establish confidence among our potential partners in the NEXGEN brand and its advanced materials. Additional use-case applications are also being considered."
Thinfilm's NFC OpenSense tags are thin, flexible labels that can detect both a product's "factory sealed" and "opened" states and wirelessly communicate contextual content with the tap of an NFC-enabled smartphone or industrial reader. The tags contain unique identifiers that make it possible for NEXGEN to authenticate products and track them to the individual-item level using Thinfilm's Authenticator App and cloud-based platform, CNECT(TM). The tags remain active even after a package's factory seal has been broken, empowering NEXGEN to extend the dialogue with supply-chain partners and end consumers.
"The proteins and compounds developed by NEXGEN are innovative, so there's an inherent need to maintain the integrity of the materials throughout its distribution network, particularly in regions known for high levels of counterfeiting activity," said Davor Sutija, CEO of Thinfilm. "The combination of OpenSense technology and our CNECT platform provides NEXGEN with the ideal solution, and enable them to protect their products while instilling trust among end customers."
About Thin Film Electronics ASA
Thinfilm is a global leader in NFC mobile marketing and smart-product solutions using printed electronics technology. The Company creates printed tags, labels, and systems that include memory, sensors, displays, and wireless communication - all at a cost-per-function unmatched by conventional electronic technologies.
Thinfilm offers end-to-end mobile marketing solutions that feature hardware, label/packaging integration services, and comprehensive cloud-based management, reporting and analytics. Collectively, these components deliver a powerful 1-to-1 digital marketing platform through which brands of all sizes can connect directly with consumers, all with the simple tap of a smartphone. The resulting disintermediation of search engines, online marketplaces, and social platforms empowers brands to control messaging, enhance consumer dialogue, build loyalty, increase engagement, and drive sales.
Thinfilm's roadmap integrates technology from a strong and growing ecosystem of partners to bring intelligence to everyday, disposable items. Its mission is to effectively extend the traditional boundaries of the Internet of Things to fuel the Internet of Everything.
Thin Film Electronics ASA is a publicly listed company in Norway with global headquarters in Oslo, Norway; US headquarters in San Jose, California; and offices in Linköping, Sweden; San Francisco; London; and Shanghai. For more information, visit www.thinfilm.no.
About NEXGEN Biotechnologies, Inc.
NEXGEN Biotechnologies, Inc., (NEXGEN) has been 18 years in Korea, specializing on research and development of recombinant proteins to be used for medical and skincare industry. NEXGEN has been awarded "Korea's 10 New Technologies" by the ministry of commerce, industry and energy in Korea in 2005, and appointed as a 'national research laboratory' in 2006 as well.
The company was also awarded '2016 best patent of Korea' with the production of 4-Spier Toxin Protein by generic engineering technology which is also registered in International Cosmetic Ingredients Dictionary to be used for the high-end skincare products. NEXGEN has been producing over 100 kinds of special proteins as well as distinctive skincare products and has more than 20 new proteins/peptides working on anti-aging effect, burn treatment, and wound treatment.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act).
For more information on Thinfilm please contact:Bill Cummings
For more information on NEXGEN Biotechnologies, Inc. please contact:
NEXGEN Biotechnologies, Inc.