DELRAY BEACH, Fla., Dec. 9, 2014 (GLOBE NEWSWIRE) -- VeriTeQ Corporation (OTC Markets:VTEQ) ("VeriTeQ") a provider of implantable medical device identification and radiation dose measurement technologies, announced today that more than 5,000 women have now received Motiva Implant Matrix® breast implants, manufactured by Establishment Labs S.A. ("EL"), with VeriTeQ's Q Inside Safety Technology™.
VeriTeQ's FDA cleared Q Inside Safety Technology™ acts as an electronic serial number in breast implants and other implantable and reusable medical devices to provide physicians and patients access to secure online databases to retrieve device-specific data, such as serial number, manufacturer name, date of manufacture, lot number, volume, size, and other data from the medical device manufacturer. Q Inside Safety Technology™ may also provide an extra level of protection to the patient in the event of a recall or other safety event.
As of mid-September, the companies announced more than 1,000 women had received Motiva Implant Matrix® breast implants with VeriTeQ's Q Inside Safety Technology. VeriTeQ and EL are seeing the strongest adoption throughout countries in Europe and the United Kingdom, where previously large recalls of breast implants occurred, prompting the need for better medical device traceability for enhanced patient safety.
"This important milestone is a reflection of the fundamental changes taking place in our industry: surgeons and patients are embracing the technological advances of Motiva and Q Inside Safety Technology because they value increased safety and performance," said Juan Jose Chacon-Quiros, Chief Executive Officer of EL.
Scott R. Silverman, Chairman and Chief Executive Officer of VeriTeQ, stated, "We believe the rapid growth in the number of patients who have received Motiva breast implants with VeriTeQ's Q Inside Safety Technology will encourage additional breast implant and other implantable medical device manufacturers to see the potential benefits offered by our technology and evaluate including Q Inside Safety Technology within their products."
EL's Motiva Implant Matrix® Ergonomix™, VelvetSurface® PLUS, and SilkSurface® PLUS, all with VeriTeQ's Q Inside Safety Technology, have received CE Mark approval.
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.
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 (www.motivaimplants.com) 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 manufactured 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.
Statements in this press release about our future expectations, including the likelihood that Q Inside Safety Technology™ may provide an extra level of protection to the patient in the event of a recall or other safety event; the likelihood that the growth in the number of patients who have received Motiva breast implants with VeriTeQ's Q Inside Safety Technology will encourage additional breast implant and other implantable medical device manufacturers to see the potential benefits offered by the companies' technology and evaluate including Q Inside Safety Technology within their products; 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 Securities 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, VeriTeQ's ability to raise capital; VeriTeQ's ability to successfully commercialize its Q Inside Safety Technology; as well as other risks. 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 Forms 10-Q, filed on November 18, 2014; August 20, 2014, as amended September 17, 2014; May 14, 2014, as amended August 20, 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.
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