News: Nemex Resources on road to biometric technology commercialisation

Nemex Resources (ASX:NXR) noted recently that "confidential commercialisation activities are underway with international mobile device manufacturers" for its 40% owned biometric technology.

Nemex has the option to increase ownership to 51% of Wavefront Biometric Technologies, the inventor.

Any commercialisation agreement with a large mobile device manufacturer would be a significant price catalyst.

In April, Nemex advised that Wavefront Biometric Technologies filed a provisional patent application over newly identified intellectual property generated during the Phase 2 development program.

The patent application entitled Multi-Biometric Authentication builds on the original Corneal Authentication patent, and uniquely combines the features of the cornea with key features of the iris utilizing a single sensor to capture multiple features of the eye.  

This multi- biometric authentication system is unique as it both captures the identifying features of a person’s eye while also ensuring that eye is from a real person – effectively a built in “Liveness Test”.

Commercially available systems currently do not possess this method of liveness testing in terms of its robust facility to resist replay attacks or other methods to spoof biometric security systems. 

Given the potential and the technology's advanced stage of development, Nemex appears modestly valued at around $23 million.