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Press Releases, VeriChip Corporation reviews third quarter accomplishments, October 10 2009:
"... • The Company announced it agreed to acquire Steel Vault Corporation (OTCBB: SVUL) and form PositiveID Corporation to offer identification tools and technologies for consumers and businesses. The companies have approved November 10, 2009 as the date for their stockholder meetings to vote on the merger, and proxies have been mailed to stockholders of record as of September 25, 2009.
• The Company expanded its partnership with RECEPTORS LLC and launched the development of a triage detection system for detection of the H1N1 virus; the Company received an exclusive license to RECEPTORS' patents utilized in that development.
• VeriChip entered into a financing commitment of up to $10,000,000 with Optimus Technology Capital Partners, LLC. VeriChip plans to use the funds to develop a virus triage detection system for the H1N1 virus, to develop an in vivo glucose-sensing RFID microchip and to support its working capital requirements and general corporate purposes.
• VeriChip announced plans to fund its existing development partnership with RECEPTORS LLC to launch Phase II development of an in vivo glucose-sensing RFID microchip. Furthermore, on October 7, 2009, VeriChip announced it received 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," to use in conjunction with VeriChip's Patent No. 7,125,382 entitled "Embedded Bio-Sensor System," to develop an in vivo glucose-sensing RFID microchip.
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Earlier this year in May VeriChip Corporation and RECEPTORS LLC announced to develop sensor systems to detect biological threats such as swine flu and other illnesses
DELRAY BEACH, FL, and CHASKA, MN – May 6, 2009 – 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, today announced plans to develop surveillance and point-of-care sensor systems that will efficiently detect and identify the presence of a particular biological threat such as influenza virus, Methicillin-resistant Staphylococcus aureus (MRSA) or other illnesses. The companies will publish a white paper outlining the development of “An Integrated Sensor System for the Detection of Bio-Threats from Pandemics to Emerging Diseases to Bio-Terrorism,” which will be available May 7, 2009, on VeriChip’s website.
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