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:: DIABETES NEWS
OF THE DAY
Successfull Completion Of Phase I Development Of In Vivo
Glucose Sensing RFID Microchip
- 20th November 2008
VeriChip Corporation ("VeriChip") (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™ 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' sensing system design is discussed by
RECEPTORS' President and Chief Science Officer, Dr. Carlson,
in the "Self-Contained Implantable RFID Glucose-Sensing
Microchip" white paper that is available on RECEPTORS' and
VeriChip's 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 is 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's
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' 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™ 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
http://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, 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
March 28, 2008, as amended, 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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