Monday, October 24, 2011

Eric Schmidt Backs Pharmaceuticals Authentication Firm

Eric Schmidt, the Executive Chairman and former CEO of Google, has backed an Indian developer of pharmaceuticals security technology. According to PharmaSecure, a developer of anti-counterfeiting technology for pharmaceuticals, it raised $3.9M in an investment from Eric Schmidt's Innovation Endeavors, Gray Ghost Ventures, Healthtech Capital and the TEEC Angel Fund. The firm said the funding will go to respond to the Government of India's drug serialization requirements, which take effect next year. Those requirements require manufacturers to include specific anti-counterfeiting measures on their pharmaceuticals packaging. More information »