Wakefield, MA (December 9, 2003) Implant Sciences Corporation (AMEX: "IMX", "IMX.WS"), announced today the signing of an exclusive agreement with InVision Technologies, Inc. (NASDAQ: "INVN") to jointly evaluate the capabilities of Implant's non-contact trace explosives detection technology for future incorporation in an automated explosives detection system for airport checkpoint screening of passengers and/or carry-on bags. The agreement gives InVision an exclusive option during the limited evaluation period to enter into a definitive agreement for exclusive distribution rights to Implant's technology for aviation security.
Its still a bit premature in my opinion for IMX to comment - thats why the attorneys get paid the big bucks to evaluate these deals. Does IMX really want their technology in the hands of GE at this point, or maybe the fact that INVN had struck a deal with IMX made them an even more attractive play for GE at this time? Lots of questions around this one. Given the high percentage of institutional ownbership of INVN (yahoo shows over 70 percent), I would say its a done deal though. Could this explain why Dr. A was on the left coast and delayed the last CC?