DELRAY BEACH, Fla., Nov. 24, 2014 (GLOBE NEWSWIRE) -- VeriTeQ Corporation (OTC Markets:VTEQ) ("VeriTeQ") a provider of implantable medical device identification and radiation dose measurement technologies, announced today that, in conjunction with its customer Establishment Labs, S.A. ("EL"), it will initiate development of a pressure-sensing microtransponder to be used in tissue expanders for breast reconstruction and tissue expansion. EL's tissue expanders will incorporate a host of technological features, most importantly giving surgeons the ability to measure internal pressure during the expansion cycles.
This next generation of VeriTeQ's FDA cleared Q Inside Safety Technology, which 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 from the medical device manufacturer, will be designed to detect pressure in tissue expanders used during breast reconstruction and augmentation. The goal of VeriTeQ's Q Inside Safety Technology with pressure-sensing capabilities for tissue expanders is to further enhance patient safety and comfort.
VeriTeQ has previously developed a temperature-sensing microtransponder, and owns U.S. Patent 7,125,382 for an Embedded Bio-sensor System to attach a bio-sensor to a radio frequency microtransponder.
"Listening to the needs of our customers and potential customers has always been a cornerstone of our company," said Scott R. Silverman, Chairman and CEO of VeriTeQ. "By including a pressure-sensing microtransponder within tissue expanders we can increase a patient's comfort when she is preparing to undergo breast reconstruction. We will use our know-how gained from previous bio-sensor development to progress this next application with our customer, EL."
According to Establishment Labs' CEO, Juan José Chacón-Quirós, "Tissue expander technology has been stagnant for the last 30 years. We are very pleased to begin this development in partnership with VeriTeQ and some of the best reconstructive surgeons in the world with the objective of increasing the quality of life for patients undergoing breast reconstruction and tissue expansion."
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.
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 (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 in conjunction with its customer EL, VeriTeQ will initiate development of a pressure-sensing microtransponder to be used in tissue expanders for breast reconstruction and tissue expansion; the likelihood that EL's tissue expanders will incorporate a host of technological features, most importantly giving surgeons the ability to measure internal pressure during the expansion cycles; the likelihood that this next generation of VeriTeQ's FDA cleared Q Inside Safety Technology will be designed to detect pressure in tissue expanders used during breast reconstruction and augmentation; the likelihood that by including a pressure-sensing microtransponder within tissue expanders VeriTeQ can increase a patient's comfort when she is preparing to undergo breast reconstruction; 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.