Tuesday, October 7, 2008

Implant Sciences in second SBIR contract, worth $750K

By Mass High Tech Staff

Physical security component maker Implant Sciences Corp. of Wakefield has received a $750,000 Phase 2 Small Business Innovation Research contract awarded by the U.S. Department of Homeland Security, Science & Technology Directorate in Washington D.C., according to company officials.

The Phase 2 contract is an follow-on to the Phase 1 SBIR contract award announced in February, which granted Implant Sciences $100,000 from the DHS to develop a handheld explosive detector. Phase 2 contracts the company for 13 months of delivery of the handheld sampler technology to the DHS.

The contract calls for Implant Sciences (AMEX: IMX) to develop a device, using its vortex collection technology, intended to improve the efficiency and volume of explosive particle detection on objects including luggage, parcels, packages, and cargo.

Implant Sciences makes explosives detectors for the security and defense industries, provides coatings for the medical devices industry and performs ion implantation services for the semiconductor industry.

The company has made strides this year to shed its medical IP business assets, according to president and CEO Phillip Thomas’ plan to back out of its medical and semiconductor businesses by December this year. In July, it announced the sale of its Best Medical International Inc. and its medical coatings business Core Systems Inc.

Wakefield-based Implant Sciences reported a 2007 net loss of $10.7 million on revenue of $15.4 million.