VeriChip Corporation (“VeriChip”) (NASDAQ: CHIP) and its
development partner RECEPTORS LLC, a technology company whose
AFFINITY by DESIGN™ chemistry platform can be applied to the
development of selective binding products, announced today further
details of the development of its virus triage detection system for
the H1N1 virus. The virus triage detection system, based on
RECEPTORS' patented AFFINITY by DESIGN™ CARA™ platform, is intended
to initially provide two levels of identification within minutes.
Once developed, utilizing a simple test tube or strip device format
that can be combined with an inexpensive reader, it is expected
that the first level will prep the sample and identify the agent as
a flu or non-flu virus, and the second level will sub-type (e.g.
H1N1) classify the flu virus and alert the user to the presence of
pandemic threat viruses. Additionally, VeriChip believes the
influenza triage diagnostic system will be scalable and will be
able to be rapidly adapted to identify new strains of influenza and
other viruses as they evolve, giving the virus triage detection
system value for future testing applications in healthcare.
The first phase of development of the virus triage detection
system, consisting of the sample prep and flu or non-flu
classification, is expected to be completed in four months. The
second phase of the triage detection system, which will have the
ability to identify the precise pathogen present, is expected to
take approximately six to eight months.
The current gold standard for influenza sub-type identification
relies on either a polymerase chain reaction test or culture
approach, neither of which is a quick (or inexpensive) test. The
current crop of quick test products on the market is only capable,
due to limitations in their technology platform, of providing a
yes/no answer to the presence of influenza.
RECEPTORS' influenza triage diagnostic system will use a
multiplexed read-out (multiple end-points that can be read in a
single scan) to produce a fingerprint that will both detect the
presence of influenza virus and identify the specific influenza
sub-type (e.g. pandemic H1N1 versus seasonal sub-types). Moreover,
this test will be in a simple test tube or strip device format that
can be combined with an inexpensive reader to give a quick test
result, ideally in less than 10 minutes.
Robert E. Carlson, Ph.D., President and Chief Science Officer at
RECEPTORS LLC, said, "Our multiplexed, fingerprint read-out
technology is critical to the development of a successful seasonal
and pandemic influenza diagnostic product for two main reasons.
First, the time to produce an H1N1 specific quick test using the
current technologies and methods is too long for effective use
during this pandemic. Second, the next pandemic flu will almost
certainly be a new or modified influenza strain (HxNy), making any
of the current quick test diagnostics that might be directed to a
particular flu sub-type obsolete or marginally effective, or both.
RECEPTORS' influenza triage diagnostic system can be rapidly
adapted to identify the new strain of virus while still keeping the
current identifications through the simple measure of establishing
and validating a new multiplexed read-out pattern/fingerprint for
the emerging threat. Put simply, our technology and its application
do not limit us to the detection of the H1N1 virus. This technology
can be quickly and effectively applied to detect any pandemic virus
or biological agent."
Verichip's and RECEPTORS' AFFINITY by DESIGN technology (US
Patent 7,504,364 "Methods of Making Arrays and Artificial
Receptors"; additional US and worldwide patents pending) is based
on an efficient and scalable high-throughput approach to the
discovery and application of stable and selective binding
environments. Its SMART MATERIALS products and applications are
built on its core competence of Surface Functionalization for
Selective Binding. RECEPTORS' CARA discovery platform is
efficiently directed to the development of sensor products and
applications (US Patent 7,469,076 "Sensors Employing Combinatorial
Artificial Receptors"; additional US and worldwide patents
pending), especially as applied to the closed-cycle sensing system
with its critical combination of a target binding environment with
a competitor reagent.
On September 16, 2009, VeriChip announced its plans to fund its
existing partnership with RECEPTORS to continue the development of
a triage detection system for detection of the H1N1 virus. On
September 21, 2009, VeriChip announced it was granted an exclusive
license to RECEPTORS' Patent No. 7,504,364 and Patent No. 7,469,076
in their application to the development of the virus triage
detection system for the H1N1 virus.
The companies published a white paper entitled, "An Integrated
Sensor System for the Detection of Bio-Threats from Pandemics to
Emerging Diseases to Bioterrorism," which is available at
www.verichipcorp.com.
About RECEPTORS LLC
RECEPTORS LLC develops SMART MATERIALS products for laboratory,
clinical, industrial hygiene and healthcare use that selectively
capture and measure chemical, biochemical and cellular targets from
complex biological, environmental or industrial samples. The
Company's patented AFFINITY by DESIGN™ platform has broad
applicability, ranging from the isolation of disease pathway
proteins for drug discovery and production of therapeutic
antibodies, to the capture of bacteria and viruses for disinfection
and diagnostic purposes. RECEPTORS LLC is a private company based
in suburban Minneapolis, Minnesota. For further information please
visit http://www.receptorsllc.com.
About VeriChip Corporation
VeriChip Corporation, headquartered in Delray Beach, Florida,
has developed the VeriMed™ Health Link System for rapidly and
accurately identifying people who arrive in an emergency room and
are unable to communicate. This system uses the first
human-implantable passive RFID microchip and corresponding personal
health record, cleared for medical use in October 2004 by the
United States Food and Drug Administration.
On September 8, 2009, VeriChip Corporation announced it agreed
to acquire Steel Vault Corporation (OTCBB: SVUL) to form PositiveID
Corporation. PositiveID will provide identification technologies
and tools to protect consumers and businesses. The companies expect
the merger to close in the fourth quarter of 2009.
For more information on VeriChip, please call 1-800-970-2447, or
e-mail info@verichipcorp.com. Additional information can be found
online at www.verichipcorp.com.
Statements about VeriChip’s future expectations, including its
development of a triage detection system, the expectation that the
triage detection system, if developed, will function as intended
and be a marketable product, the belief that the influenza triage
diagnostic system will be scalable and could be adapted to identify
new strains of influenza and other viruses as they evolve, giving
the virus detection triage system value for future testing
applications in healthcare, the expectation regarding the timing of
the first and second phases of the virus triage detection system,
the expectation that the next pandemic flu will almost certainly be
a new or modified influenza strain (HxNy), and all other statements
in this press release other than historical facts are
“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
VeriChip’s actual results could differ materially from expected
results. These risks and uncertainties include the Company’s
ability to successfully develop and commercialize the virus triage
detection system, the market acceptance of the virus triage
detection system, the Company's ability to develop a virus triage
detection system that is scalable and capable of being rapidly
adapted to identify new strains of influenza, the validity, scope
and enforceability of RECEPTORS LLC’s patents and those related to
the virus triage detection system, the protection afforded by
RECEPTORS LLC’s patents and those related to the virus triage
detection system, the effect of changes and conditions relating to
new influenza strains and influenza pandemics, the Company's
ability to complete the development phases in the expected time
frames, government regulations relating to the virus triage
detection system, the Company's ability to fund the continued
development of the virus triage detection system; the timing and
success of submission, acceptance and approval of required
regulatory filings; as well as certain other risks. Additional
information about these and other factors that could affect the
Company’s business is set forth in the Company’s various filings
with the Securities and Exchange Commission, including those set
forth in the Company’s 10-K filed on February 12, 2009, under the
caption “Risk Factors.” 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.
Additional Information and Where to Find It
On September 8, 2009, VeriChip and Steel Vault issued a joint
press release announcing the signing of an Agreement and Plan of
Reorganization, among VeriChip, Steel Vault and VeriChip
Acquisition Corp., a Delaware corporation and wholly-owned
subsidiary of VeriChip (the “Acquisition Subsidiary”), pursuant to
which the Acquisition Subsidiary will be merged with and into Steel
Vault, with Steel Vault surviving and becoming a wholly-owned
subsidiary of VeriChip (the “Merger”). Upon the consummation of the
Merger, each outstanding share of Steel Vault’s common stock will
be converted into 0.5 shares of VeriChip common stock.
In connection with the Merger, VeriChip filed with the
Securities and Exchange Commission (“SEC”) a Registration Statement
on Form S-4 that will contain a Joint Proxy Statement/Prospectus of
VeriChip and Steel Vault. Investors and security holders are urged
to read the Registration Statement and the Joint Proxy
Statement/Prospectus carefully because they contain important
information about VeriChip, Steel Vault and the proposed
transaction. The Joint Proxy Statement/Prospectus and other
relevant materials (when they become available), and any other
documents filed with the SEC, may be obtained free of charge at the
SEC’s web site (www.sec.gov). In addition, investors and security
holders may obtain a free copy of other documents filed by VeriChip
or Steel Vault by directing a written request, as appropriate, to
VeriChip at 1690 South Congress Avenue, Suite 200 Delray Beach,
Florida 33445, Attention: Investor Relations, or to Steel Vault at
1690 South Congress Avenue, Suite 200 Delray Beach, Florida 33445,
Attention: Investor Relations. Investors and security holders are
urged to read the Joint Proxy Statement/Prospectus and the other
relevant materials before making any voting or investment decision
with respect to the proposed transaction.
VeriChip, Steel Vault and their respective directors and
executive officers may be deemed to be participants in the
solicitation of proxies in connection with the proposed
transaction.
Information regarding the interests of these directors and
executive officers in the proposed transaction will be included in
the Joint Proxy Statement/Prospectus referred to above. Additional
information regarding the directors and executive officers of
VeriChip is also included in VeriChip's Form 10-K, which was filed
with the SEC on February 12, 2009. Additional information regarding
the directors and executive officers of Steel Vault is also
included in Steel Vault's proxy statement (Form DEF 14A) for
the 2009 annual meeting of Steel Vault's stockholders, which was
filed with the SEC on February 9, 2009, as amended. These documents
are available free of charge at the SEC’s website (www.sec.gov) and
by contacting Investor Relations at the addresses above.
Grafico Azioni Verichip (MM) (NASDAQ:CHIP)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Verichip (MM) (NASDAQ:CHIP)
Storico
Da Giu 2023 a Giu 2024
