DELRAY BEACH, Fla., Feb. 5, 2015 (GLOBE NEWSWIRE) -- VeriTeQ Corporation ("VeriTeQ" or "Company") (OTC Markets:VTEQ), a provider of implantable medical device identification and radiation dose measurement technologies, today commented on this morning's Today Show segment entitled "Company implants microchips in employees." The segment represents that RF (radio frequency) access applications are new or first of a kind. This is not accurate. Specifically, years ago, VeriTeQ's predecessors, VeriChip Corporation/Applied Digital Solutions, received FDA clearance in 2004 to use an implantable RF micro-transponder to access medical records in an emergency or clinical application. One of VeriChip's other applications was building / office access.
These technologies and applications were previously covered by The Today Show as well as other major network programs. The Today Show clips can be viewed at:
https://www.youtube.com/watch?v=SsqsLm6yMgw&index=33&list=PLcG45TOBIreg6sr7r51U0yKXNCrothV64
https://www.youtube.com/watch?v=9XtS440GOoo&index=55&list=PLcG45TOBIreg6sr7r51U0yKXNCrothV64
VeriTeQ Corporation is currently not pursuing the aforementioned applications. Rather, VeriTeQ is a leader in implantable medical device identification that is using its implantable RF technology known as "Q Inside Safety Technology" in medical devices to identify the device once implanted inside the body. As an example, over 5,000 women have already received breast implants with Q Inside Safety Technology to identify the breast implant in the event of adverse event or recall.
VeriTeQ Corporation was founded in 2011 to play a role in the evolution of the FDA's UDI (Unique Device Identification) initiatives. The UDI System Final Rule is a part of the Food and Drug Safety and Innovation Act signed into law by President Obama in July 2012.
In addition to its Q Inside Safety Technology, VeriTeQ has a substantial intellectual property portfolio related to sensor applications on an implantable RF micro-transponder / chip. With a focus on radiation dosimetry, this intellectual property has yielded products that take radiation dosage readings directly from tumor sites rather than measuring radiation dosage from the machine emitting the beam from outside of the body. This yields more precise radiation dosage readings.
Commenting on The Today Show segment, Scott R. Silverman, Chairman and Chief Executive Officer of VeriTeQ, stated, "As the founders of implantable RF technology in humans, we like to represent our technology in its best light given evolving applications. In 2004, we believed a subcutaneous RF chip was a legitimate way to access medical records or to access a building. Today, healthcare has yielded stronger and more important applications: identification of medical devices and sensor applications. Since The Today Show's segment did not discuss the manufacturer of the RF chip technology used, we look forward to setting the record straight and urge them to invite us on their show to demonstrate our technology, its history, its evolution and, most importantly, how it can truly be used to improve the health, safety and wellness of patients."
About VeriTeQ
VeriTeQ 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 micro-transponder 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 that are not purely historical facts, including statements about our beliefs, intentions or future expectations, may be "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 Securities Litigation Reform Act of 1995. Such forward-looking statements consist of any statement other than a recitation of historical fact and can be identified by the use of forward-looking terminology such as "may", "expect", "anticipate", "intend", "estimate" or the negative thereof or other variations thereof or comparable terminology. The reader is cautioned that all forward looking statements involve risks and uncertainties and are subject to change at any time, and that our actual results could differ materially from expected results. These risks and uncertainties include, without limitation, VeriTeQ's ability to raise capital; VeriTeQ's ability to successfully commercialize its Q Inside Safety Technology; as well as other risks or events beyond the Company's control. Additional information about these and other factors may be described in VeriTeQ's Form 10-K, filed on April 15, 2014, as amended August 19, 2014; and Form 10-Q, filed on November 18, 2014; and future filings with the Securities and Exchange Commission. VeriTeQ 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.