VeriChip Corporation and RECEPTORS LLC Successfully Complete Phase I Development of In Vivo Glucose Sensing RFID Microchip
19 11์ 2008 - 10:30PM
Business Wire
VeriChip Corporation (๏ฟฝVeriChip๏ฟฝ) (NASDAQ:CHIP), a provider of RFID
systems for healthcare and patient-related needs, and its
development partner RECEPTORS LLC, a technology company whose
AFFINITY by DESIGN๏ฟฝ chemistry platform can be applied to the
development of selective binding products, announced today that a
significant milestone has been achieved toward the development of
an in vivo glucose-sensing RFID microchip. Upon successful
completion of the in vivo glucose-sensing RFID development program,
this self-contained, implantable bio-sensing device will, for the
first time, have the ability to measure glucose levels in the human
body through an external scanner, thereby eliminating the need for
diabetics to prick their fingers multiple times per day. The key to
the development of the implantable glucose sensor is the
self-contained, in vivo capable glucose-sensing system. RECEPTORS๏ฟฝ
sensing system design is discussed by RECEPTORS๏ฟฝ President and
Chief Science Officer, Dr. Carlson, in the ๏ฟฝSelf-Contained
Implantable RFID Glucose-Sensing Microchip๏ฟฝ white paper that is
available on RECEPTORS๏ฟฝ and VeriChip๏ฟฝs websites. The design of the
glucose-sensing system incorporates two critical components.
RECEPTORS recently completed Phase I proof-of-concept program
successfully prepared prototype examples for both the
glucose-selective binding environment and the glucose-competitive
signaling component. These critical components were used to
demonstrate the bench top format application of the glucose-sensing
system to the detection of glucose levels. This demonstration is
the proof-of-concept foundation of the glucose-sensing system.
Scott R. Silverman, Chairman of VeriChip, said, "We are not only
focused on current opportunities for patient identification within
our VeriMed Health Link business, but also on the future
applications of RFID in healthcare. The glucose sensor๏ฟฝis a
promising example, combining a unique application of the technology
and an extremely valuable market. While there is much more to do,
development of the binding environment was a big step towards
reaching that future." In December 2007, VeriChip and RECEPTORS
unveiled plans to build a prototype self-contained implantable
bio-sensing device included in an RFID microchip. Following
VeriChip๏ฟฝs purchase of all intellectual property related to the
human implantable RFID glucose-sensing microchip from Digital Angel
Corporation in November 2008, VeriChip is now RECEPTORS๏ฟฝ exclusive
partner. In the next phase of this program, the optimization of the
sensing system components, development of the sensing to
electronics signal transduction system and incorporation of the
devices biocompatible shield will be developed. About RECEPTORS LLC
RECEPTORS LLC is a private company based in Chaska, Minnesota.
RECEPTORS' mission is to advance the diagnosis and treatment of
disease and to enhance the health, safety, and quality of the
global environment through the development and application of
artificial receptor products for both research and industry. To
achieve this mission, RECEPTORS' focuses its individual and
collective efforts, its commitment to excellence, and the power of
its technology to develop innovative solutions that meet the unique
needs of its customers and stakeholders. For further information
please visit http://www.receptorsllc.com. About VeriChip VeriChip
Corporation, headquartered in Delray Beach, Florida, markets its
VeriMed๏ฟฝ Health Link System for rapidly and accurately identifying
people who arrive in an emergency room and are unable to
communicate. This system uses the first human-implantable passive
RFID microchip, cleared for medical use in October 2004 by the
United States Food and Drug Administration. For more information on
VeriChip, please call 1-800-970-2447, or e-mail
info@verichipcorp.com. Additional information can be found online
at www.verichipcorp.com. Statements about VeriChip๏ฟฝs future
expectations, including its ability to develop and market a
glucose-sensing microchip in conjunction with its development
partner RECEPTORS LLC, and all other statements in this press
release other than historical facts are "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 VeriChip๏ฟฝs actual results
could differ materially from expected results. Additional
information about these and other factors that could affect the
Company๏ฟฝs business is set forth in the Company๏ฟฝs various filings
with the Securities and Exchange Commission, including those set
forth in the Company๏ฟฝs 10-K filed on March 28, 2008, as amended,
under the caption ๏ฟฝRisk Factors.๏ฟฝ 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.
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