DELRAY BEACH, Fla. (GLOBE NEWSWIRE) - VeriTeQ Corporation ("VeriTeQ" or "Company") (OTC Markets:VTEQ), a provider of implantable medical device identification and radiation dose measurement technologies, announced today that it has entered an agreement providing an exclusive license of multiple patents from North Carolina State University ("NCSU"). VeriTeQ will license 24 patents, which are the foundation for its FDA cleared Q Inside SmartMarker and OneDose products for radiation dosimetry.
Q Inside SmartMarker (formerly known as DVS SmartMarker) is an implantable radiation sensor for use in breast and prostate cancer patients undergoing photon external beam treatments. It is implanted in, or adjacent to, solid-mass tumors and gathers data on the actual dose of radiation being delivered to the tumor and surrounding normal tissue. Q Inside SmartMarker is intended to be used in the balancing between delivering maximum dose to the tumor while minimizing the impact to healthy tissue. The sensor can confirm the treatment is conforming to the physician's plan, as even a small deviation from the planned dose can have a significant impact on patient survival rates.
VeriTeQ's OneDose external radiation sensing system is FDA cleared for use in patients being treated with external beam radiation. OneDose is a proprietary, wearable, single-use system that is used to verify radiation oncology doses quickly and conveniently. The OneDose system is comprised of disposable sensors that attach to the patient's skin using a basic adhesive and a scanner that reads the sensor. VeriTeQ believes OneDose is the only wireless, pre-calibrated, disposable, skin surface sensor that provides instant dose delivery data, which could be fed into patient radiology reports and health records.
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"Expanding our relationship with NCSU not only helps strengthen our intellectual property portfolio, but, we believe, also better positions us to commercialize these important radiation measurement products through the benefit of a direct relationship with the source of the core science," said Scott R. Silverman, VeriTeQ's Chairman and Chief Executive Officer. "Our team is highly focused on returning to market Q Inside SmartMarker and One Dose, which were previously used in numerous hospitals in the U.S. to help prevent radiation overdose."
The patents in questions were previously being made available to VeriTeQ through a sublicense agreement. The new, direct agreement with NCSU is effective immediately.
