DELRAY BEACH, Fla., April 13, 2015 (GLOBE NEWSWIRE) -- VeriTeQ Corporation ("VeriTeQ") (OTC Markets:VTEQ), a provider of implantable medical device identification and radiation dose measurement technologies, announced today that it has expanded its intellectual property portfolio with a patent filing in Brazil for its high-temperature Q Inside Safety Technology micro-transponder.
Q Inside Safety Technology™ acts as an electronic serial number within implanted medical devices, and enables physicians and patients to access 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 from the device manufacturer.
Q Inside Safety Technology is currently being used within Establishment Labs S.A. ("EL") Motiva Implant Matrix® breast implants. EL markets its CE marked breast implants throughout Europe, the United Kingdom, Latin America and Asia. According to the International Society of Aesthetic Plastic Surgeons, there were over 500,000 breast procedures performed in Brazil in 2013.
During the manufacturing process, breast implants are sterilized at high heat. The patent filing is intended to protect the high-temperature Q Inside Safety Technology transponders that can withstand high-temperature shocks and can maintain their physical and electrical characteristics following high-temperature exposure.
"Brazil is the second largest market in the world for breast procedures, so we believe it is important that we protect the advances we have made to Q Inside Safety Technology as the use of our technology grows throughout that country and elsewhere," stated Scott R. Silverman, Chairman and CEO of 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 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 continue to raise capital to fund its operations; VeriTeQ's ability to successfully commercialize its Q Inside Safety Technology; as well as other risks or events beyond VeriTeQ'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.
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