Life Science RFID Solution Joint Press Release
Research Biolabs Technologies (www. researchbiolabs. com) and Wavex Technologies (www. wavex-tech. com) are pleased to announce the signing of a collaboration agreement in the development of RFID technology based solutions to the life science and the healthcare sectors.
(PRWEB) September 29, 2004
The RFID is a technology that allows tracking and identification of things via radio frequency wave. It encompasses a microchip with an antenna, commonly known as tag/labels and also a device (as known as reader) that transmits radio frequency waves that form a magnetic field.
In recent years, RFID market had grown tremendously. In US, the Food and Drug Administration has proposed that all drugs that are prone to be counterfeited have to be tracked using RFID by 2007. The Infocomm Development Authority of Singapore (IDA) lately announced 10 million plan to promote the development and adoption of RFID in Singapore. Latest survey conducted by ‘Applied Business Intelligence’ has indicated the RFID market worldwide will worth US$3.1 billion in year 2008.
In view of all the progress of RFID technologies, RBT and Wavex shared a common understanding in the application of this new technology to the life science and healthcare industries. This collaboration is in the development of a highly sophisticated tracking system for the tracking of multiples of samples such as blood and tissue samples collected for research or treatment purposes. Accurate tracking and identification of such samples are crucial in these industries as research results depend on it. In the healthcare industry, life and death depends on using correct samples such as blood or tissue samples. Most research institutions and hospitals use manual system, which are labour intensive and not efficient. Currently, bar-coded systems are being used as well. However, bar-coded system has significant limitation in the information stored as well as the system of identification is unidirectional.
According to Nick Lee, Director of Wavex “We are seeing the growing interest in RFID inventory tracking and managing for life science and healthcare sectors. The partnership will definitely provide enormous benefits to such sectors.“
Alex Thian Chairman of Research Biolabs Group concurs. “I believe that the timing is about right for the adoption of this new and exciting technologies. We are seeing the problem of samples tracking and identification in the works of researchers and certainly look forward to coming out with good RFID tracking solution within next couple of years.”
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