SecureRF Corporation just announced that they have been awarded a Phase II Small Business Innovation Research (SBIR) grant from the National Science Foundation (NSF) to develop a secure passive RFID tag for the U.S. Pharmaceutical supply chain.
Under Phase II, Secure RF will receive a $500,000 grant to develop and demonstrate an RFID tag designed to verify the authenticity and integrity of the drugs as they move through a supply chain.
The NSF’s goal in this project is to combat the sale of counterfeit drugs, a worldwide racket that costs the pharmaceutical industry $40 billion in sales each year.
SecureRF plans for the new RFID tag to provide the pharmaceutical industry with on board authentication and data protection to ensure the integrity and authenticity of the product. The potential customers of this technology include pharmaceutical manufacturers, distributors, wholesalers, and pharmacies.