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VeriTeQ's core technology evolved from implantable radio frequency identification (RFID) microchip technology used in the health care community for over two decades. This first-of-its-kind implantable RFID technology was cleared for use by the FDA in 2004 as a Class II medical device, originally to identify at-risk patients at the point of care. It has now evolved to help medical device manufacturers meet mandatory regulations outlined in the FDA's Safety & Innovation Act, signed into law in July 2012, and the FDA's Unique Device Identification (UDI) Final Rule. This technology is VeriTeQ's Q Inside Safety Technology. VeriTeQ's dosimeter technologies are used in the oncology suite and give an oncology team the ability to measure the dosage of radiation delivered to a patient on a per treatment basis. The data collected from our dosimeter technologies is invaluable when recording the total amount of radiation that a patient is exposed to during the entire treatment regimen, and the data can be used on a generic basis to develop future treatment regimens and evidence-based healthcare. VeriTeQ is developing an informatics and data analytics platform that will improve the type of medical device and treatment regimen data that can be used in many applications to improve patient healthcare and outcomes. Such examples include using VeriTeQ's UDI data in supply chain management for medical device manufacturers and healthcare institutions, quality and reimbursement controls for hospitals, and treatment regimen data for patients receiving chemotherapy and radiation therapy. VeriTeQ owns a rich portfolio of intellectual property protecting all of its current and future technologies.
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