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VeriChip Corporation’s
Healthcare Division Expands Existing Development Partnership with
RECEPTORS LLC to Include New Biological and Environmental Sensor
Applications
Expansion of Partnership Is A
Direct Result of Recent Swine Flu Outbreak and RECEPTORS’ Recently
Issued “Methods of Making Arrays and Artificial Receptors” Patent
No. 7,504,364 and “Sensors Employing Combinatorial Artificial
Receptors” Patent No. 7,469,076
Partners believe that unique
intellectual property can lead to chemical isolation and detection
of certain biological threats including, but not limited to, Swine
Flu
DELRAY BEACH, FL, and CHASKA, MN – April
28, 2009 – VeriChip
Corporation (“VeriChip”) (NASDAQ: CHIP) and its development partner
RECEPTORS LLC, a technology company whose AFFINITY by DESIGN™
chemistry platform can be applied to the development of selective
binding products, announced today that they are expanding their
existing development partnership, beyond the glucose-sensing RFID
implantable microchip to include other biological and environmental
applications, both in combination with RFID technology and without.
The partners recently executed a Memorandum of Understanding
relating to the expansion.
In November 2008, VeriChip purchased all
intellectual property related to implantable human RFID and sensor
technologies including, but not limited to, Patent No. 7,125,382
entitled “Embedded Bio-Sensor System” from Digital Angel
Corporation. That patent is currently being utilized in connection
with VeriChip’s and RECEPTORS’ efforts to jointly develop a
glucose-sensing device. RECEPTORS recently received Patent No.
7,504,364 titled “Methods of Making Arrays and Artificial Receptors”
and Patent No. 7,469,076 “Sensors Employing Combinatorial Artificial
Receptors.” RECEPTORS’ patents are currently
being applied to the development of diagnostic and sensor platforms
for microbial pathogens and other biological threats.
Scott R. Silverman, Chairman of VeriChip,
said, "When VeriChip purchased certain intellectual property from
Digital Angel Corporation in November 2008, we already envisioned
the evolution of our RFID technology from identification to
biological applications. This vision began in January 2008, when we
first partnered with RECEPTORS to develop a glucose-sensing RFID
microchip. Now, with RECEPTORS’ new patents for Methods of Making
Arrays and Artificial Receptors and Sensors Employing Combinatorial
Artificial Receptors, we believe we can broadly expand these sensor
applications to many biological agents and the environment.”
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,
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 its ability to develop and market a
glucose-sensing microchip in conjunction with its development
partner RECEPTORS LLC, its ability to expand its development
partnership with RECEPTORS LLC to include other biological and
environmental applications, and the ability of the biological and
environmental applications that are to be jointly developed and
marketed by it and RECEPTORS LLC to detect, among other things,
swine flu proteins and other proteins, 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.
###
Contact:
Allison Tomek
561-805-8000
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