DELRAY BEACH, Fla., April 16, 2015 (GLOBE NEWSWIRE) -- VeriTeQ Corporation ("VeriTeQ" or the "Company") (OTC Markets:VTEQ), a provider of implantable medical device identification and radiation dose measurement technologies, announced that it has filed its Form 10-K for the year ended December 31, 2014, and is updating investors and others on its achievements for 2014, including the launch of its Q Inside Safety Technology™.
- Official commercial launch of Q Inside Safety Technology
- Delivered more than 15,000 units of Q Inside Safety Technology to customers
- VeriTeQ's customer, Establishment Labs S.A. ("EL"), received CE Mark approvals for its Motiva Implant Matrix Ergonomix™, Motiva Implant Matrix® VelvetSurface PLUS, and Motiva Implant Matrix® SilkSurface PLUS, all with Q Inside Safety Technology
- More than 5,000 women received breast implants with VeriTeQ's Q Inside Safety Technology
- Launched next generation of Q Inside Safety Technology readers and delivered more than 100 units
- VeriTeQ and EL to co-develop a pressure-sensing micro-transponder to be used in tissue expanders for breast reconstruction and tissue expansion
- Entered an agreement with North Carolina State University to exclusively license 24 patents related to VeriTeQ's FDA cleared Q Inside SmartMarker and OneDose technologies for radiation dosimetry
"We are very proud of the rapid commercial launch and growth of Q Inside Safety Technology during 2014," stated Scott R. Silverman, Chairman and CEO of VeriTeQ. "With more than 5,000 women who have chosen to receive breast implants with Q Inside Safety Technology at the end of our first year of launching the product, we believe we are making a difference to improve personalized medicine and provide the highest device quality and verification for patients."
Q Inside Safety Technology, which acts as an electronic serial number within implanted medical devices, is currently being used within EL's Motiva Implant Matrix® breast implants. Q Inside Safety Technology 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. EL markets its CE marked breast implants throughout Europe, the United Kingdom, Latin America and Asia.
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 14, 2015; 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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