VeriChip Corporation Completes Development of New 8 Millimeter RFID Implantable Microchip
12 5월 2009 - 9:30PM
Business Wire
VeriChip Corporation (�VeriChip� or the �Company�)
(NASDAQ:CHIP), a provider of radio frequency identification (RFID)
systems for healthcare and patient-related needs, announced today
it has completed the development of a new, smaller
human-implantable RFID microchip measuring approximately 8
millimeters by 1 millimeter. As previously announced, this new,
smaller microchip has been developed specifically to be
incorporated into Medical Components, Inc.�s (�Medcomp�) vascular
ports. On March 18, 2009, the Company announced that it entered
into a development and supply agreement with Medcomp to develop and
manufacture a RFID microchip for implantation into Medcomp�s
vascular access medical devices on an exclusive basis. The initial
term of the agreement is five years totaling more than $3.0 million
over the life of the agreement, assuming successful completion of
the development of the new, smaller microchip and Medcomp�s receipt
of approval from the U.S. Food and Drug Administration (�FDA�) of
the vascular port containing the microchip.
Scott R. Silverman, Chairman of VeriChip, said, "Less than two
months after the announcement of our development agreement with
Medcomp, we have successfully completed the first, important step.
This will enable Medcomp to move forward and begin the design stage
of the development of the combined device and its eventual
submission to the FDA.�
The Company�s existing microchip, used as part of its VeriMed�
Health Link system for patient identification, measures
approximately 11 millimeters by 1 millimeter.
About VeriChip
VeriChip Corporation, headquartered in Delray Beach, Florida,
has developed the VeriMed� 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.
To complement its healthcare division, VeriChip Corporation
established VeriGreen Energy Corporation in March 2009 to focus and
invest in the clean and alternative energy sector.
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�s future expectations, including
future revenues and earnings from the sale of these smaller
microchips to Medcomp, its ability to successfully manufacture the
smaller microchip and supply such microchip to Medcomp according to
the terms of the agreement, and Medcomp�s ability to receive FDA
approval, 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�s actual results could differ
materially from expected results. Additional information about
these and other factors that could affect the Company�s business is
set forth in the Company�s various filings with the Securities and
Exchange Commission, including those set forth in the Company�s
10-K filed on February 12, 2009, under the caption �Risk Factors.�
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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