|By Business Wire||
|March 31, 2014 06:00 AM EDT||
Thin Film Electronics ASA (“Thinfilm”) (OSE: THIN.OL), a leader in the development of printed electronics, and Temptime Corporation, the world’s leading provider of time-temperature indicators to the health care industry, today announced a strategic alliance that will bring new technology to the pharmaceutical market. The companies will collaborate to develop the health care industry’s first temperature indicators featuring electronic technology that will alert people through digital display if medical products have been exposed to potentially damaging temperatures.
“Temptime is highly regarded as the pioneer and leading authority on the science behind temperature monitoring technology. The company serves the world’s largest healthcare organizations and leading manufacturers,” stated Davor Sutija, CEO of Thinfilm. “I’m delighted Temptime has selected Thinfilm technology to deliver new and leading-edge products to its customers.”
The proper storage of temperature-sensitive medical products such as pharmaceuticals, vaccines and medical devices is critical to a product’s efficacy and patient safety profile. The digital display on Thinfilm’s smart labels eliminates any ambiguity around temperature readings and clearly indicates if an excursion has occurred. Temptime is the first company that will invest in adding the smart labels with integrated electronic sensing and digital display technology to its portfolio of devices that support the world’s leading health organizations with their efforts to safely distribute medical products around the world.
“This agreement is another initiative that supports Temptime’s mission of improving global health and patient safety through solutions that alert people to the risk of using medical products damaged by extreme temperatures,” said Renaat Van den Hooff, president, Temptime. “We are pleased to align with Thinfilm, an equally innovative company, to develop and produce cost-effective, electronic temperature indicators that accurately communicate critical temperature threshold data.”
Terms of the deal include a development-related investment from Temptime and commercial pre-orders for samples that can be shared with customers, the timing for which is still to be determined.
In addition to Thinfilm’s own technology and logic, key components of the smart labels will be provided by several Thinfilm ecosystem partners, including thermistors from PST and electrochromic displays from Acreo.
Temptime is the world leader in time-temperature indicators to the health care industry. The company plays a vital role in improving global health by providing solutions that monitor temperature-sensitive medical and biological products and devices. The world’s largest health organizations and manufacturers use Temptime’s indicators to support them with safely distributing medical products and supplies around the world. Temptime is a company of Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry. To learn more about Temptime, please visit www.temptimecorp.com.
About Thin Film Electronics ASA
Thin Film Electronics ASA (Ticker: THIN.OL) is a leader in the development of Printed Electronics. The first to commercialize printed rewritable memory, Thinfilm is creating printed system products that will include memory, sensing, display and wireless communication-at a cost-per-functionality unmatched by any other electronic technology. Thinfilm’s roadmap of system products integrates technology from a strong and growing ecosystem of partners to enable the Internet of Things by bringing intelligence to disposable goods. Company headquarters are in Oslo, Norway, with product development in Linköping, Sweden, sales offices in San Francisco, USA, and Tokyo, Japan, and manufacturing in Pyongtaek, South Korea. www.thinfilm.no