VeriChip Gets Exclusive License for Patents Used in Virus Triage Detection System for H1N1 Virus

VeriChip Corp. and its development partner Receptors, a technology company whose Affinity by Design chemistry platform can be applied to the development of selective binding products, announced that VeriChip has been granted an exclusive license to Receptors' Patent No. 7,504,364 titled "Methods of Making Arrays and Artificial Receptors" and Patent No. 7,469,076 "Sensors Employing Combinatorial Artificial Receptors," in their application to the development of the virus triage detection system for the H1N1 virus.

The patents can also be applied to detection systems for other viruses and biological threats such as Methicillin-resistant Staphylococcus aureus (MRSA).

Last week, VeriChip announced its plans to fund its existing partnership with Receptors to develop the virus triage detection system for the H1N1 virus. The companies have published a white paper entitled, "An Integrated Sensor System for the Detection of Bio-Threats from Pandemics to Emerging Diseases to Bioterrorism," which outlines the system's development and is available at verichipcorp.com.

Scott R. Silverman, Chairman and CEO of VeriChip, said, "In a short period of time following our announcement earlier this month that VeriChip has agreed to acquire Steel Vault Corp. and form PositiveID Corp., we have been intently focused on maximizing our product portfolio and relationships in order to bring identification technologies and tools for consumers and businesses to market. Our strong balance sheet immediately positions us to invest in our partnership with Receptors and we believe that receiving the exclusive license as it relates to this application of the '364 and '076 patents, which are the foundation of the virus triage detection system being developed with Receptors, is a key step in the evolution of PositiveID."

Receptors is a private company based in Chaska, Minnesota. Receptors' mission is to advance the diagnosis and treatment of disease and to enhance the health, safety, and quality of the global environment through the development and application of artificial receptor products for both research and industry.

VeriChip Corp., headquartered in Delray Beach, Florida, has developed the VeriMed Health Link System for accurately identifying people who arrive in an emergency room and are unable to communicate. The system uses 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, VeriChip announced it agreed to acquire Steel Vault Corp. to form PositiveID Corp. 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.

((Comments on this story may be sent to newsdesk@closeupmedia.com))

Related terms: acquisition, ceo, disease, emergency, environment, fda, health, market, medical, minnesota, partnership, patent, products, research, steel, technology