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News and Information Article
MT. LAUREL, N.J. and ROSELAND, N.J., Oct. 11 // -- NJTC
Venture Fund, an $80 million early stage venture capital fund, leads the $2
million Series A financing of Princeton-based IntegriChain, Inc.
("IntegriChain"), the premier provider of secure chain intelligence.
"We are very impressed with the products and services that IntegriChain
offers its customers, as well as the interest in this area expressed by
IntegriChains customers in the life sciences market," explained Jim
Gunton, General Partner of NJTC Venture Fund. "Our investors are excited
about the opportunity to work with a company that combines a seasoned
management team, clear vision, unparalleled subject matter expertise, and
great technology - all within a market that is rapidly growing."
"This investment marks a milestone for our company," explained Kevin E.
Leininger, CEO of IntegriChain. "NJTC Venture Fund has a history of
successful high-tech investing and we are proud to be included in their
portfolio. This financing provides the capital we need to accelerate the
development of both our Dossier(TM) Platform as well as the risk analytics
that allow our customers to detect and reduce their value chains exposure
to illicit product."
Over the last year, IntegriChain has utilized its data model and risk
signal technology to analyze the exposure of over $30 billion of US
prescription drug commerce to counterfeiting, diversion, and parallel
trade. Based on this sample, IntegriChain has demonstrated that between
1.5% and 2.5% of US channel inventories consist of illicit products.
Seven of the top twenty pharmaceutical manufacturers now leverage
IntegriChains proprietary intelligence and risk signals to detect early
warning signs of threats to brand integrity, patient safety, and revenue.
Manufacturers use IntegriChains near real-time alerts and risk dashboards
to quantify their exposure at a product and institutional level, to ensure
authorized sourcing of its products throughout the channel, and to avoid
diversion of its discounted sales. This expansion capital will be used to
support the strong demand for IntegriChains Dossier(TM) Platform and
associated Customer Vigilance(TM), Channel Vigilance(TM), and Internet
Vigilance(TM) dashboards.
About NJTC Venture Fund: http://www.njtcvc.com
NJTC Venture Fund is an $80M early stage venture capital fund investing
in promising companies located in the New Jersey region. Industries of
interest include communications, energy, information technology,
healthcare/life sciences, and materials. NJTC Venture Fund will invest
$250,000 - $5 million per company and supports its portfolio with an
unparalleled network of local, active partners and advisors. NJTC Venture
Fund is actively seeking new investments in early stage companies.
About IntegriChain: http://www.integrichain.com
IntegriChain is the premier provider of secure chain intelligence to
the life sciences industry. Leading manufacturers employ IntegriChains
proprietary intelligence and risk signal analytics to programmatically
detect value chain exposure to counterfeit, diverted and other illicit
products. Supply chain, trade, finance, and product protection teams
leverage IntegriChain to ensure the safety and security of over $30 billion
in US prescription drug commerce. IntegriChain applications support a
growing array of safe and secure value chain functions, including exposure
quantification, enforcement of trade partner compliance, management of
discounted sales, and investigation of illicit commerce.
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