New York
DELRAY BEACH, Fla.--(BUSINESS WIRE)--VeriChip Corporation ("VeriChip") (NASDAQ:CHIP - News), a provider of RFID systems for healthcare and patient-related needs, and Digital Angel Corporation ("Digital Angel") (AMEX:DOC - News), owner of Patent No. 7,125,382, announced today that they will host events for the medical and investment communities on December 4-5th in New York surrounding the development of an implantable bio-sensing RFID microchip to measure glucose levels in the human body. Scott R. Silverman, VeriChip’s Chairman and Chief Executive Officer, discusses plans for the Company to have a functioning prototype of the device within six months in an online interview conducted today at www.ceocast.com. In the interview, he is joined by Robert E. Carlson, Ph.D., President and Principal Investigator at RECEPTORS LLC, which is an expert in the field of proteomics and the development of artificial receptors, and is partnering with VeriChip and Digital Angel. RECEPTORS, which will participate in the New York events, will be responsible for demonstrating a self-contained glucose-sensing system in Phase I of the project. 
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 would have a passive transponder, a sensor and integrated circuitry that could allow anyone implanted with the microchip to painlessly scan it to determine their blood glucose concentration. The RFID microchip would then quickly and accurately transmit the glucose data back to a wireless scanner that displays the glucose level. The RFID microchip would be powered by the scanner signal, avoiding the need for a battery in the microchip.
In October 2006, Digital Angel announced the U.S. Patent and Trademark Office had granted Digital Angel patent No. 7,125,382, titled "Embedded Bio-Sensor System." Although it is unknown when commercialization of this glucose-sensing microchip may occur, VeriChip Corporation intends to market it as Digital Angel's exclusive licensee in the area of human implantable identification products. Digital Angel has also developed a temperature-sensing microchip, Bio-Thermo(TM), which is already available for use in horses and companion pets.
Parties interested in attending the New York events should contact Allison Tomek at (561) 805-8000. Additional details will be provided shortly.
About RECEPTORS LLC
RECEPTORS' technology originates from its CARA(TM) AFFINITY BY DESIGN(TM) Discovery Platform, which allows the company to optimize artificial receptors to any application. Its product suite focuses on the development of an integrated proteomics "toolkit", with an emphasis on high-performance protein isolation and biomarker discovery. RECEPTORS LLC is privately held. For more information on RECEPTORS, please call 1-952-448-4337, or email info@receptorsllc.com. Additional information can be found online at http://www.receptorsllc.com.
About VeriChip
VeriChip, headquartered in Delray Beach, Florida, develops, markets and sells radio frequency identification, or RFID, systems used to identify, locate and protect people and assets. VeriChip's goal is to become the leading provider of RFID systems for people in the healthcare industry. The Company recently began marketing its VeriMed(TM) Patient Identification System, a passive RFID system for rapidly and accurately identifying people who arrive in an emergency room and are unable to communicate. This system uses the first human-implantable passive RFID microchip, the implantable VeriChip(TM), cleared for medical use in October 2004 by the United States Food and Drug Administration.
VeriChip Corporation is majority-owned by Applied Digital Solutions, Inc. (NASDAQ:ADSX - News), which also owns a majority position in Digital Angel Corporation (AMEX:DOC - News). Digital Angel, a leader in RFID and GPS technologies, owns the patent on the human implantable, passive RFID microchip and manufactures it for VeriChip. For more information on VeriChip, please call 1-800-970-2447, or email info@verichipcorp.com. Additional information can be found online at www.verichipcorp.com.
About Digital Angel Corporation
Digital Angel Corporation (AMEX:DOC - News) is a leading provider of radio frequency identification (RFID) and global positioning system (GPS) technologies that enable the rapid and accurate identification, location tracking and condition monitoring of people, animals and high-value assets. The company’s products are utilized around the world in such applications as pet identification using its patented, FDA-approved implantable microchip; livestock identification and tracking using visual and RFID ear tags; and GPS search and rescue beacons for use on aircraft, ships and boats, and by adventure enthusiasts. Digital Angel Corporation has entered into an agreement to merge with its parent company Applied Digital Solutions, Inc. (NASDAQ:ADSX - News).

This press release includes forward-looking statements, including but not limited to statements regarding the potential development, clinical trials and commercialization of an implantable glucose-sensing microchip, the potential of the microchip to revolutionize diabetes care and management and to negate the need for diabetics to draw blood to monitor blood glucose levels, its ability to painlessly and accurately scan, determine, and transmit glucose concentration levels to a wireless scanner, and the potential for it to operate properly within the human body for the timeframe intended. VeriChip and Digital Angel wish to caution readers that certain important factors and various risks may have affected and could in the future affect VeriChip's and Digital Angel's actual results and could cause VeriChip's and Digital Angel's actual results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of VeriChip and Digital Angel. With respect to VeriChip's and Digital Angel's expectations expressed in this press release, such risk factors include, but are not limited to, the performance of the product according to VeriChip's and Digital Angel's expectations. This information is also qualified in its entirety by cautionary statements and risk factor disclosures contained in VeriChip's and Digital Angel's Securities and Exchange Commission filings, including VeriChip's and Digital Angel's annual reports on Form 10-K for the fiscal year ended December 31, 2006 and its quarterly reports. VeriChip and Digital Angel 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. VeriChip and Digital Angel undertake 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.
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