Digital Angel Corporation Awarded Patent for Breakthrough Glucose-Sensing RFID Microchip
26 October 2006 - 12:00AM
Business Wire
The U.S. Patent and Trademark Office has granted Digital Angel
Corporation (AMEX: DOC) a patent for its syringe-implantable
glucose-sensing RFID microchip, Digital Angel announced today. The
RFID microchip measures the glucose concentration levels of
diabetic patients and will be marketed and distributed by Digital
Angel�s sister company, VeriChip, as an extension to the company�s
products benefiting people. �A glucose-sensing microchip could
profoundly impact the 230 million people worldwide living with
diabetes,� said Digital Angel CEO and President, Kevin McGrath.
�Patent approval for this RFID microchip is a major step in
bringing this life-altering technology to market. It also
underscores Digital Angel�s commitment to innovation, product
development and rapid growth.� Checking blood glucose levels
regularly is critical to properly managing diabetes. The
conventional method � a finger prick � is invasive, painful and
often inaccurate. The implantable bio-sensor chip has a passive
transponder, glucose sensor and integrated circuitry that allow
anyone implanted with the microchip to painlessly scan it to
determine their level of glucose concentration. The RFID microchip
quickly and accurately transmits the glucose data back to a
wireless scanner that displays the glucose level. The RFID
microchip is powered by the scanner signal, avoiding the need for a
battery in the microchip. �This is a landmark development in the
world of diabetes management,� said Dr. Joseph Feldman, Chairman of
the Emergency/Trauma Department of Hackensack University Medical
Center. �The current process for monitoring blood sugar levels is
painful, cumbersome and discouraging, and especially burdensome for
the young and the elderly. By having this technology, the process
becomes effortless. This glucose-sensing RFID microchip is the next
great step in implantable microchip technology.� Digital Angel, a
leading producer of electronic tags for livestock, pets, fish and
humans, foresees expansion beyond the human market for the
glucose-sensing RFID microchip. According to the company, diabetes
is a major disease issue in animal livestock today. As a result,
the glucose-sensing RFID microchip could have an equally
significant impact in monitoring the glucose levels in livestock
animals. �We recognize that extensive work is required to
commercialize this product, including the time and investment
required for development, clinical trials and FDA approval,� said
McGrath. �Still, we view this as an incredibly important
advancement in the world of diabetes management.� Digital Angel is
seeking international patent protection covering the same
glucose-sensor RFID technology. The company, in conjunction with
VeriChip Corporation, its exclusive licensee in the area of human
implantable identification products, is in the process of naming
this product. The patent, No. 7,125,382 was granted on October 24,
2006 and is titled "Embedded Bio-Sensor System." About Digital
Angel Corporation Digital Angel Corporation develops and deploys
sensor and communications technologies that enable rapid and
accurate identification, location tracking, and condition
monitoring of high-value assets. Applications for the Company�s
products include identification and monitoring of humans, pets,
fish, poultry and livestock through its patented implantable
microchips; location tracking and message monitoring of vehicles
and aircraft in remote locations through systems that integrate GPS
and geosynchronous satellite communications; and monitoring of
asset conditions such as temperature and movement, through advanced
miniature sensors. Digital Angel Corporation is majority-owned by
Applied Digital Inc. (Nasdaq:ADSX). For more information about
Digital Angel, please visit www.DigitalAngelCorp.com. The
statements in this press release that are not strictly historical,
are "forward-looking" statements within the meaning of Section 27A
of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934 and are intended to be covered by the safe
harbors created by these sections. The forward-looking statements
are subject to risks and uncertainties and the actual results that
the Company achieves may differ materially from these
forward-looking statements due to such risks and uncertainties,
including, but not limited to, that Applied Digital Inc. owns 55.4%
of the Company�s common stock, that new accounting pronouncements
regarding expensing of share based compensation may impact the
Company�s future results of operations, the Company may continue to
incur net losses, infringement by third parties on the Company�s
intellectual property or development of substantially equivalent
proprietary technology by the Company�s competitors could
negatively impact the Company�s business, domestic and foreign
government regulation and other factors could impair the Company�s
ability to develop and sell its products in certain markets, the
Company relies on sales to government contractors for its animal
identification and search and rescue beacon products, and any
decline in the demand by these customers for such products could
negatively affect the Company�s business, the Company depends on a
single production arrangement for its patented syringe-injectable
microchips, and the loss of or any significant reduction in the
production could have an adverse effect on the Company�s business,
technological change could cause the Company�s products to become
obsolete, the loss of one of the Company�s principal customers
could negatively impact the Company�s net revenue, the Company�s
earnings will decline if the Company writes off goodwill and other
intangible assets, options and warrants outstanding and available
for issuance may adversely affect the market price of the Company�s
common stock, currency exchange rate fluctuations could have an
adverse effect on the Company�s sales and financial results, the
Company depends on a small team of senior management. A detailed
statement of risks and uncertainties is contained in the Company�s
reports to the Securities and Exchange Commission, including in
particular the Company�s Form 10-K for the fiscal year ended
December 31, 2005. Investors and stockholders are urged to read
this document carefully. The Company can offer no assurances that
any projections, assumptions or forecasts made or discussed in this
release will be met, and investors should understand the risks of
investing solely due to such projections. The Company undertakes no
obligation to revise any forward-looking statements in order to
reflect events or circumstances that may arise after the date of
this press release. The U.S. Patent and Trademark Office has
granted Digital Angel Corporation (AMEX: DOC) a patent for its
syringe-implantable glucose-sensing RFID microchip, Digital Angel
announced today. The RFID microchip measures the glucose
concentration levels of diabetic patients and will be marketed and
distributed by Digital Angel's sister company, VeriChip, as an
extension to the company's products benefiting people. "A
glucose-sensing microchip could profoundly impact the 230 million
people worldwide living with diabetes," said Digital Angel CEO and
President, Kevin McGrath. "Patent approval for this RFID microchip
is a major step in bringing this life-altering technology to
market. It also underscores Digital Angel's commitment to
innovation, product development and rapid growth." Checking blood
glucose levels regularly is critical to properly managing diabetes.
The conventional method - a finger prick - is invasive, painful and
often inaccurate. The implantable bio-sensor chip has a passive
transponder, glucose sensor and integrated circuitry that allow
anyone implanted with the microchip to painlessly scan it to
determine their level of glucose concentration. The RFID microchip
quickly and accurately transmits the glucose data back to a
wireless scanner that displays the glucose level. The RFID
microchip is powered by the scanner signal, avoiding the need for a
battery in the microchip. "This is a landmark development in the
world of diabetes management," said Dr. Joseph Feldman, Chairman of
the Emergency/Trauma Department of Hackensack University Medical
Center. "The current process for monitoring blood sugar levels is
painful, cumbersome and discouraging, and especially burdensome for
the young and the elderly. By having this technology, the process
becomes effortless. This glucose-sensing RFID microchip is the next
great step in implantable microchip technology." Digital Angel, a
leading producer of electronic tags for livestock, pets, fish and
humans, foresees expansion beyond the human market for the
glucose-sensing RFID microchip. According to the company, diabetes
is a major disease issue in animal livestock today. As a result,
the glucose-sensing RFID microchip could have an equally
significant impact in monitoring the glucose levels in livestock
animals. "We recognize that extensive work is required to
commercialize this product, including the time and investment
required for development, clinical trials and FDA approval," said
McGrath. "Still, we view this as an incredibly important
advancement in the world of diabetes management." Digital Angel is
seeking international patent protection covering the same
glucose-sensor RFID technology. The company, in conjunction with
VeriChip Corporation, its exclusive licensee in the area of human
implantable identification products, is in the process of naming
this product. The patent, No. 7,125,382 was granted on October 24,
2006 and is titled "Embedded Bio-Sensor System." About Digital
Angel Corporation Digital Angel Corporation develops and deploys
sensor and communications technologies that enable rapid and
accurate identification, location tracking, and condition
monitoring of high-value assets. Applications for the Company's
products include identification and monitoring of humans, pets,
fish, poultry and livestock through its patented implantable
microchips; location tracking and message monitoring of vehicles
and aircraft in remote locations through systems that integrate GPS
and geosynchronous satellite communications; and monitoring of
asset conditions such as temperature and movement, through advanced
miniature sensors. Digital Angel Corporation is majority-owned by
Applied Digital Inc. (Nasdaq:ADSX). For more information about
Digital Angel, please visit www.DigitalAngelCorp.com. The
statements in this press release that are not strictly historical,
are "forward-looking" statements within the meaning of Section 27A
of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934 and are intended to be covered by the safe
harbors created by these sections. The forward-looking statements
are subject to risks and uncertainties and the actual results that
the Company achieves may differ materially from these
forward-looking statements due to such risks and uncertainties,
including, but not limited to, that Applied Digital Inc. owns 55.4%
of the Company's common stock, that new accounting pronouncements
regarding expensing of share based compensation may impact the
Company's future results of operations, the Company may continue to
incur net losses, infringement by third parties on the Company's
intellectual property or development of substantially equivalent
proprietary technology by the Company's competitors could
negatively impact the Company's business, domestic and foreign
government regulation and other factors could impair the Company's
ability to develop and sell its products in certain markets, the
Company relies on sales to government contractors for its animal
identification and search and rescue beacon products, and any
decline in the demand by these customers for such products could
negatively affect the Company's business, the Company depends on a
single production arrangement for its patented syringe-injectable
microchips, and the loss of or any significant reduction in the
production could have an adverse effect on the Company's business,
technological change could cause the Company's products to become
obsolete, the loss of one of the Company's principal customers
could negatively impact the Company's net revenue, the Company's
earnings will decline if the Company writes off goodwill and other
intangible assets, options and warrants outstanding and available
for issuance may adversely affect the market price of the Company's
common stock, currency exchange rate fluctuations could have an
adverse effect on the Company's sales and financial results, the
Company depends on a small team of senior management. A detailed
statement of risks and uncertainties is contained in the Company's
reports to the Securities and Exchange Commission, including in
particular the Company's Form 10-K for the fiscal year ended
December 31, 2005. Investors and stockholders are urged to read
this document carefully. The Company can offer no assurances that
any projections, assumptions or forecasts made or discussed in this
release will be met, and investors should understand the risks of
investing solely due to such projections. The Company undertakes no
obligation to revise any forward-looking statements in order to
reflect events or circumstances that may arise after the date of
this press release.
Applied Digital Solutions (NASDAQ:ADSX)
Historical Stock Chart
From Jun 2024 to Jul 2024
Applied Digital Solutions (NASDAQ:ADSX)
Historical Stock Chart
From Jul 2023 to Jul 2024