Spectra Systems expands patent estate in US and Africa

27th Dec 2019 07:19

(Sharecast News) - Banknote, tax stamp and brand authentication technology provider Spectra Systems reported on Friday that it has further expanded its patent estate for products used in banknote authentication, products authentication including pharmaceutical pill coatings, and banknote cleaning.
The AIM-traded firm said that during the period from October 2018 to December 2019, it was either issued, granted or received notices of allowance on one United States patent and 41 foreign patents.

It said 35 of the foreign patents were for authentication and banknote cleaning in African countries under the African Regional Industrial Property Organization (ARIPO) and Organisation Africaine de la Propriété Intellectuelle (OAPI).

"The continued expansion of our patent portfolio is a key driver of shareholder value and is an asset which is at the heart of our global business opportunities, protecting our position as a leader in innovation in the authentication and banknote industries," said chief executive officer Dr Nabil Lawandy.

At 1535 GMT, shares in Spectra Systems were up 1.23% at 156.9p.