Letters to the Editor: Venture Thoughts
My partners and I wish to thank U.S. 1 for the informative article “Breaking Through in Venture Capital,” which appeared in the February 9 edition.
The story features Nicole Vitullo as a general partner of Domain, however, you make the statement that she is the only woman amongst our eight general partners.
Kathleen Schoemaker is not only a general partner of Domain, but she is a co-founder of the firm, along with Jim Blair and myself. I thought your readers might wish to know that.
Jesse I. Treu
General Partner, Domain Associates LLC
Editors’ note: Although our article was focused on women venture capitalists, we should have noted that Schoemaker — though not a venture capitalist — is, as CFO of Domain Associates, a general partner.
More on Terrorism Technology
I have been an avid U.S. 1 reader for years, relying on it to supplement other sources for business and cultural information in the Central New Jersey area.
Recently, I have been particularly intrigued with two topics that impact my profession as a consulting packaging engineer/designer for the pharmaceutical industry. I am referring to two U.S. 1 cover stories: The January 12 report on Kenneth Traub of American Bank Note Holographics (ABNH), which produces holograms for security/authentication of credit cards and pharmaceutical safety; and the February 12 article on “Toxin Buster,” Tim Henry of SteriFleet treating anthrax tainted mail. Both of these articles deal with technological solutions to security issues that did not exist only a short time ago.
In pharmaceuticals, technology is aiding industry to combat counterfeit drugs as an answer to FDA investigations, which have increased by 400 percent since the late 1990s.
My company promotes anti-counterfeiting technology and awareness to the industry. During the past 20-plus years, I have witnessed the emergence of an urgent need for multiple layered product and brand security. Because of the great stakes for monetary gain, or bio-terrorism intent, well-financed counterfeiters are capable of using technology to their benefit to deceive and infiltrate our prescription drug supply. To combat this growing threat, on February 18, 2004, the FDA issued a report entitled “Combating Counterfeit Drugs.” The FDA cautions: “Because the capabilities of counterfeiters continue to evolve rapidly, there is no single ‘magic bullet’ technology that provides any long-term assurance of drug security.”
Professionals are aware that adulterated drugs usually contain completely different formulations, lower dosage levels, or even mere water. The FDA report further cautions, “drug counterfeits not only defraud consumers, they also deny ill patients the therapies that can alleviate suffering and save lives.”
An important aspect is to educate not only the pharmaceutical manufacturers, but also the medical community and the public by implementing a campaign for awareness.
Some of the basic forms of protection include both openly visible and hidden techniques such as:
UV printing inks
Radio Frequency Identification
Color shifting ink
These are just a few of the technologies that are being used, or will be used in the near future, to ensure that the contents of prescription drugs are genuine. Recognizing the importance and severity of the consequences, the FDA and industry professionals are aggressively working to ensure that the U.S. prescription drug system is the safest and most protected in the world.
A key factor also is dependent upon the American public who should be aware of the “pedigree” of the product they are using by procuring prescription drugs only from authenticated sources.
President, Design4Packaging Inc.,
Buckingham Drive, Pennington
The correct telephone for Court Appointed Special Advocates (CASA), published on February 9 under the headline Volunteers Needed, is 609-637-4910.