DELRAY BEACH, Fla.--(BUSINESS WIRE)--VeriTeQ Corporation (“VeriTeQ” or the “Company”, f/k/a/ Digital Angel Corporation) (OTC Markets: DIGAD), a provider of implantable medical device identification and radiation dose measurement technologies, announced today that it has delivered its first order of 2,000 Q Inside Safety Technology radio frequency identification microchips to breast implant partner Establishment Labs, S.A. (“EL”). VeriTeQ’s Q Inside Safety Technology is the Company’s unique device identifier, or UDI, for implantable and reusable medical device identification. EL’s Motiva Implant Matrix Ergonomix™ with VeriTeQ’s Q Inside Safety Technology is the world’s first externally identifiable breast implant.
By including VeriTeQ’s Q Inside Safety Technology, which is an FDA cleared radio frequency identification microchip that can be read safely from outside the body, in Motiva implants, physicians and patients will have access to a secure online database to retrieve implant-specific data such as serial number, manufacturer name, date of manufacture, lot number, volume, size, and other data. Q Inside Safety Technology also provides an extra level of protection to the patient in the event of a recall or other safety event.
The companies announced recently that EL received CE mark approval to market its Motiva Implant Matrix Ergonomix™ with VeriTeQ’s Q Inside Safety Technology. CE Mark approval enables EL to market its Motiva breast implants to patients in 28 countries in the European Union and fast track regulatory approvals in many countries in South America, Middle East and Asia.
Scott R. Silverman, Chairman and CEO of VeriTeQ, stated, “We are very pleased to help EL prepare for the upcoming international launch of their new implant, the Motiva Implant Matrix Ergonomix™ with VeriTeQ’s Q Inside Safety Technology, which we believe is a best-in-class product. We are gearing up to deliver additional microchips and readers to EL on an ongoing, monthly basis.”
According to the International Society of Aesthetic Plastic Surgery, the number of breast augmentation procedures performed worldwide in 2011 exceeded 1.2 million.
In September 2012, VeriTeQ entered into a development and supply agreement with EL, a global provider of breast implants under the Motiva Implant Matrix® brand name, to build next-generation breast implants that contain VeriTeQ’s Unique Device Identifier (“UDI”) called “Q Inside Safety Technology.” Under the terms of the agreement, VeriTeQ will receive payments from EL for the implantable microchips used in each implant, as well as external handheld readers.
About EL
Establishment Labs is a privately held, global breast, body and facial aesthetic company with offices in Florida, Costa Rica and Belgium, that designs, develops, manufactures and markets an innovative product portfolio consisting of advanced silicone-filled breast implants (www.motivaimplants.com) for breast and body shaping implants.
Utilizing only the highest quality of medical grade silicones, the CE-marked Motiva Implant Matrix® line is rigorously scrutinized by professional Quality Engineers throughout the entire manufacturing process. All its products are produced in full compliance with ISO and EU requirements, and are certified under the Medical Device Directive 93/42/EEC. For more information on EL, please visit www.establishmentlabs.com.
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 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 by including VeriTeQ’s Q Inside Safety Technology in Motiva implants, physicians and patients will have access to a secure online database to retrieve implant-specific data such as serial number, manufacturer name, date of manufacture, lot number, volume, size, and other data; the likelihood that Q Inside Safety Technology also provides an extra level of protection to the patient in the event of a recall or other safety event; the likelihood that the Company is gearing up to deliver additional microchips and readers to EL on an ongoing, monthly basis; 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 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 VeriTeQ’s Form 10-Q, filed on August 9, 2013, and 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.