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Media Contacts
October 18, 2004 Andy Cutler, Cutler Communications, LLC
(401) 751-2486
andy@cutlerpr.com
Shari Worthington, Telesian Technology
(508) 755-5242
sharilee@telesian.com
Ion Signature Technology Secures Financing for Innovative
Data Analysis Tools for Mass Spectrometry
Company executes its plans for expansion and relocation to
Rhode Island
North Smithfield, RI – October 20, 2004
– Ion Signature Technology, Inc. (IST), developer of advanced technologies
for analytical laboratories, today announced that it has received financing
from the Slater Center for Marine and Environmental Technologies (Slater
Marine/Environmental), a venture development fund in Providence, RI, that
focuses on cutting-edge technologies. The investment will be used to fund
IST’s growth, with an emphasis on further development of the company’s
sales and marketing programs, as well as product development efforts.
IST has developed a line of innovative data analysis tools for high throughput
analytical laboratories that work in such application areas as environmental
science, forensics, petrochemicals, and chemicals. The Company also announced
the relocation of its corporate headquarters from Cambridge, Massachusetts
to North Smithfield, Rhode Island.
IST’s products are based on Accurithm™, a powerful set of
software algorithms designed for ultra-fast, high sensitivity compound
identification and quantification. These unique algorithms allow laboratories
to dramatically increase productivity by maximizing throughput and reducing
costs.
“Today’s analytical labs need ready access to software and
hardware tools and technologies that will help them become more competitive,”
said John Moore, Ph.D., President and CEO of IST. “The tools they
use must also inspire confidence within the labs and among their customers.
Competition is fierce and no lab can afford to lose paying customers due
to faulty data. IST’s recent advances in deconvolution algorithms
allow labs to run analyses as fast as possible without sacrificing data
quality; and to quickly and efficiently identify complex compounds, even
in challenging circumstances.”
IST has developed of a range of products, including its IST
for GC/MS Mass Spectrometry Software, Large
Volume Injectors, and Thermal
Extraction Probe. Additionally, IST’s Accurithm algorithms
can simultaneously detect trace levels of explosives and narcotics from
air, liquid, and solid samples in virtually any environment. The company
is also conducting research and development in the area of detecting chemical
warfare agents.
According to the US EPA, “The IST software is capable of identifying
low concentrations of target analytes in the presence of high levels of
matrix interferences. By 'seeing through' the matrix interferences, the
software reduces the need for re-analysis and dilution, and increases
confidence in surrogate, internal standard, and target compound identification
and quantification. IST accurately identifies and quantifies target compounds
in the presence of high levels of interferences and with minimal chromatographic
separation.” ¹
“Slater Marine/Environmental has an impressive track record of
working with entrepreneurial business ventures such as ours,” said
John Moore, Ph.D., President and CEO of IST. “We are impressed by
the key introductions they have facilitated throughout the financial community.
We look forward to our company’s future growth in the state of Rhode
Island.”
“This is a another win for the State of Rhode Island, highlighting
Rhode Island as having a business environment where innovative entrepreneurs,
as well as their respective research, development, and commercialization
efforts can flourish,” stated Ron Unterman, Executive Director of
the Slater Center for Marine and Environmental Technologies. “Currently,
no technology exists that is capable of achieving the rapid chemical analysis
that IST offers. In addition, the IST platform is being expanded to include
real-time identification and warning of a wide range of chemical threats
at very low concentrations. IST technology represents a key component
in the future of security screening and monitoring in a global marketplace.
Rhode Island is quickly becoming a major player for cutting-edge environmental
and homeland security-based companies.”
About Ion Signature Technology, Inc.
Ion Signature Technology (IST) is a privately held company focused on
developing and marketing advanced data analysis software and hardware
for analytical laboratories that require accurate, high throughput chemical
analysis. Based on the innovative Accurithm™ deconvolution algorithms,
IST’s products reduce the time required to collect and analyze complex
chemical samples. The company increases the capacity and profitability
of high throughput service organizations by providing faster, simpler,
and more dependable sample collection and analysis methods. For more information
about IST, please visit http://www.ionsigtech.com.
About the Slater Center for Marine and Environmental Technologies
The Slater Center for Marine and Environmental Technologies (Slater Marine/Environmental)
is one of four Slater Centers working to stimulate entrepreneurship and
to expand high-tech employment opportunities in Rhode Island. The Slater
Centers were founded to ensure that great ideas born in our state continue
to be developed here -- and to attract out-of-state entrepreneurs to develop
their products and companies in Rhode Island. Named for industrial visionary
and early Rhode Island entrepreneur Samuel Slater, the Centers provide
early-stage seed funding, business development services, and other support
designed to take cutting-edge technologies to the commercial market. Slater
Marine/Environmental’s resources are used to catalyze the creation
of new technology companies, to support their early stage development,
and to help them to access institutional capital for future growth.
In addition to supporting individual Rhode Island companies, Slater Marine/Environmental
is committed to working with universities, research centers, government
agencies, and various private sector partners to nurture the state’s
vibrant community of entrepreneurs through networking, education, regulatory
advocacy, and other initiatives.
1. Innovations in Site Characterization, Office of
Solid Waste and Emergency Response, EPA-542-R-98-006
For further information, contact:
Ion Signature Technology, Inc.
51 Industrial Drive
North Smithfield, RI 02896 USA
(401) 767-4360
info@ionsigtech.com
http://www.ionsigtech.com
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