IMSC - .55 Once they get a TSA or Homeland Security contract they will be ripe for a buyout.
Implant Sciences Announces Explosives Trace Detection Pioneer Dr. William McGann as Advisor
Founder of Ion Track and Former CTO at GE Security to Advise Implant Sciences on Leveraging Its Technologies to Penetrate Markets in U.S. and Abroad
WILMINGTON, MA--(Marketwire - April 13, 2011) - Implant Sciences Corporation (PINKSHEETS: IMSC) (OTCQB: IMSC), a high technology supplier of systems and sensors for homeland security markets, today announced it has retained the advisory services of Dr. William McGann, an expert in connecting promising technologies with market opportunities. Dr. McGann was one of the original developers of commercial ion mobility spectrometry technology for explosives trace detection (ETD) at Ion Track Instruments, where he played a key role in creating an industry around ETD science and technology. Ion Track was sold to General Electric, and later to Safran as part of the GE Homeland Security group divestiture.
Dr. McGann will apply his extensive expertise in ETD and his institutional knowledge of the U.S. Transportation Security Administration (TSA) to support Implant Sciences' efforts in deploying more units of its Quantum Sniffer™ H-150 ETD device for the security and protection of Americans.
Dr. McGann has authored over 70 research proposals to the U.S. Government, 20-plus scientific publications, and over 25 patents in the areas of nuclear, chemical and biological detection technologies. He created "Entry Scan," the world's first passenger walk-through screening system for explosives detection.
After selling Ion Track to General Electric, Dr. McGann served as Vice-President, R&D at GE Ion Track and went on to become Chief Technology Officer of GE Security. Dr. McGann has also served as a Senior Scientist for seven years at Radiation Monitoring Devices, Inc., a research company, specializing in high-energy nuclear spectroscopy.
He holds a Ph.D. in Physical Chemistry from the University of Connecticut, where his doctoral work was in the area of Magnetic Resonance and Laser Spectroscopy.
"Implant Sciences has great technology that addresses a growing and critical need in the market. The Quantum Sniffer can become a key component of security deployed throughout the U.S. and at TSA managed sites. Implant Sciences also has opportunities to introduce additional ETD technologies to market. I look forward to advising the Company on these fronts," stated Dr. McGann.
"As a pioneer and expert in the field of ion mobility explosives trace detection, Dr. McGann is ideally suited to contribute to efforts in expanding our markets. We believe his interest in working with Implant Sciences further validates our technology and product as a leader in the market. His expertise will help us refine our product roadmap while we continue in our efforts to improve our position in the ETD Market," added Implant Sciences CEO, Glenn Bolduc.
About the Quantum Sniffer QS-H150
The QS-H150 Quantum Sniffer is a hand-held explosive trace detector that uses Ion Mobility Spectrometry (IMS) to rapidly detect and identify trace amounts of a wide variety of military, commercial, improvised, and homemade explosives. The QS-H150 features a low-maintenance design that is self-calibrating and self-clearing, providing very high levels of operational availability.
About Implant Sciences
Implant Sciences develops, manufactures and sells sophisticated sensors and systems for Security, Safety, and Defense (SS&D) markets. The Company has developed proprietary technologies used in its commercial explosive trace detection systems which ship to a growing number of locations domestically and internationally. Implant Sciences' QS-H150 Portable Explosives Detector has been designated as Qualified Anti-Terrorism Technology by the U.S. Department of Homeland Security under the Support Anti-terrorism by Fostering Effective Technology Act of 2002 (the SAFETY Act). For further details on the Company and its products, please visit the Company's website at 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 our explosives detection products and technologies (including any new products we may develop) may not be accepted by governments or by other 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; our business is subject to intense competition and rapid technological change; 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; 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.
