VeriChip Surges On Exclusive License For Patents Used In H1N1 Detection System (CHIP)

Mon. September 21, 2009; Posted: 03:06 PM

Sep 21, 2009 (SmarTrend(R) News Watch via COMTEX) -- CHIP | Quote | Chart | News | PowerRating -- 9/21/2009-Shares of VeriChip (NASDAQ:CHIP) surged over 180% Monday after news broke that it, and its development partner RECEPTORS LLC, announced that VeriChip was granted exclusive rights to RECEPTORS' patent to develop an application for virus triage detection system for the H1N1 virus. The company's press release also indicated the patents could also be applied to detection systems for other viruses like Methicillin-resistant Staphylococcus aureus (MRSA).

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 Corporation and form PositiveID Corporation, 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."

Write to Chip Brian at cbrian@tradethetrend.com

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For full details on Verichip Corporation (CHIP) click here. Verichip Corporation (CHIP) has Short Term PowerRatings of 6. Details on Verichip Corporation (CHIP) Short Term PowerRatings is available at This Link.

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