Digital Angel Corporation (“Digital Angel” or the “Company”) (OTC
Markets: DIGA), a provider of implantable medical device identification
and radiation dose measurement technologies, following its recent share
exchange with VeriTeQ Acquisition Corporation (“VeriTeQ”), announced
today that VeriTeQ has enhanced its patent portfolio by filing two new
patents with the U.S. Patent and Trademark Office in order to protect
its position as a leader in breast implant identification and safety
technologies.
The first patent is for VeriTeQ’s temperature-resistant microchip,
designed specifically to withstand high temperatures during
sterilization in the manufacturing of breast implants and other
implantable medical devices. The second patent covers the process of
using the Company’s temperature-resistant microchip in the manufacturing
of a breast implant.
VeriTeQ is working with implantable medical device manufacturers in the
U.S. and abroad to incorporate its FDA cleared passive radio frequency
identification (“RFID”) microchip, referred to as “Q Inside Safety
Technology,” within breast implants and other medical devices to enable
the devices to be quickly and safely identified from outside the body.
VeriTeQ’s Q Inside Safety Technology enables implantable medical device
manufacturers to comply with the FDA’s Proposed Rule for Unique Device
Identification (“UDI”), which contains a direct marking requirement
recommended for implantable medical devices because these devices
present unique risks that would be better controlled through direct
marking (versus simple labeling on the outside of the medical device
packaging). The UDI Regulation has been released from the FDA to the
White House Office of Management and Budget, and it is anticipated that
the UDI Final Regulation will be released in the near future.
“We have chosen to focus initially on the UDI of breast implants due to
the global demand for the safe and accurate identification of these
devices once inside the body. This demand stems from past recalls of
breast implants, particularly the scandal involving Poly Implant
Prothese’s implants in the European Union,” stated Scott R. Silverman,
Chairman and Chief Executive Officer of VeriTeQ. “We believe our
innovative technology and intellectual property, which we continue to
improve upon and protect, puts us in a strong position to help supply
safer implantable medical devices for patients.”
According to the International Society of Aesthetic Plastic Surgery, the
number of breast augmentation procedures performed worldwide in 2011
exceeded 1.2 million.
About Digital Angel and VeriTeQ
Digital Angel, through its VeriTeQ wholly-owned subsidiary, develops
innovative, proprietary RFID technologies for implantable medical device
identification, and dosimeter technologies for use in radiation therapy
treatment. VeriTeQ offers the world's first FDA cleared RFID microchip
technology that can be used to identify implantable medical devices, in
vivo, on demand, at the point of care. VeriTeQ's dosimeters provide
patient safety mechanisms while measuring and recording the dose of
radiation delivered to a patient in real time. For more information on
VeriTeQ, please visit www.veriteqcorp.com.
Statements in this press release about our future expectations,
including without limitation, the likelihood that VeriTeQ’s Q
Inside Safety Technology enables implantable medical device
manufacturers to comply with the FDA’s Proposed Rule for UDI; the
likelihood that the UDI Final Regulation will be released in the near
future; the likelihood that the Company’s innovative technology and
intellectual property, which it continues to improve upon and protect,
puts the Company in a strong position to help supply safer implantable
medical devices for patients; constitute "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, Section
21E of the Securities Exchange Act of 1934, and as that term is defined
in the Private Litigation Reform Act of 1995. Such forward-looking
statements involve risks and uncertainties and are subject to change at
any time, and our actual results could differ materially from expected
results. These risks and uncertainties include, without limitation, the
ability to promptly and effectively integrate the businesses of Digital
Angel and VeriTeQ; VeriTeQ’s ability to target the UDI sector and
implantable medical device manufacturers; VeriTeQ’s ability to raise
capital; as well as other risks. Additional information about these and
other factors may be described in future filings with the Securities and
Exchange Commission The Company undertakes no obligation to update or
release any revisions to these forward-looking statements to reflect
events or circumstances after the date of this statement or to reflect
the occurrence of unanticipated events, except as required by law.
Copyright Business Wire 2013