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 that VeriTeQ filed a provisional patent with the U.S. Patent and Trademark Office in September 2012 for a microchip that is able to withstand high temperatures in order to make it compatible with the sterilization processes involved in the manufacturing of implantable medical devices. The first application for this temperature-resistant microchip that the Company is focused on is the identification of breast implants. The Company is working with implantable medical device manufacturers to incorporate its FDA cleared passive radio frequency identification (“RFID”) microchip, referred to as “Q Inside,” within breast implants and other medical devices to enable the devices to be quickly and safely identified from outside the body. The Company believes “Q Inside” is the only proven direct marking technology of its kind that provides Automatic Identification and Data Capture (“AIDC”) technology as required for implantable medical devices under the FDA’s Proposed Rule for Unique Device Identification (“UDI”). The FDA’s Proposed Rule for UDI reflects in § 801.50 a direct marking requirement recommended for implantable medical devices because these devices present unique risks that would be better controlled through such a 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 the final review is currently underway. It is anticipated that the final UDI Regulation will be released in the near future. “We are focused on continually improving our technology in order to provide implantable medical device manufacturers a solution that will help them comply with the FDA’s Proposed Rule for UDI,” stated Scott R. Silverman, Chairman and Chief Executive Officer of Digital Angel. “We believe our portfolio of microchip and related technology applications, which currently includes more than 100 patents issued, patents pending, and patent licenses, makes us a technology leader within the industry.”
About Digital Angel and VeriTeQDigital 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 the first application for VeriTeQ’s heat-resistant microchip will be within breast implants to identify them from outside the body for electronic medical records and clinical information systems management, or in the event of a recall or other safety event; the likelihood that “Q Inside” is the only proven direct marking technology of its kind that provides AIDC technology as required for implantable medical devices under the FDA’s Proposed Rule for UDI; the likelihood that the final UDI Regulation will be released in the near future; and the likelihood that our portfolio of microchip and related technology applications, which currently includes more than 100 patents issued, patents pending, and patent licenses, makes us a technology leader within the industry, 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.