A pioneering drug label technology firm has experienced â€œunprecedentedâ€ levels of interest from pharmaceutical companies.
Timestrip, based in Hitchin, UK, makes disposable â€œsmartâ€ labels that show how long a productâ€™s packaging has been open or the product has been in use.
Rather than just using an expiry date, the labels give patients, doctors and pharmacists information on temperature levels, allowing them to see if the contents are safe to use.
The labels â€” themselves called Timestrips â€” can also incorporate anticounterfeiting features to ensure productsâ€™ authenticity.
Timestrips can also prompt nurses and patients about when repeat doses are needed or when procedures such as dressing changes should be administered.
The firm also revealed it has a â€œstrong sales pipelineâ€ as it unveiled details of a new contract with a US firm worth Â£1.5m over the next three years.
The deal involves integrating Timestrips into a â€œmarket-leading product that is currently used in millions of homes across the worldâ€.
But the company remains tight-lipped over the nature of the agreement, as there are confidentiality restrictions on the customerâ€™s details.
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