DELRAY BEACH, Fla. & NEW LONDON, Conn. -- VeriTeQ Acquisition Corporation (“VeriTeQ”), a provider of implantable medical device identification and radiation dose measurement technologies, announced today it has entered into a Share Exchange Agreement with Digital Angel Corporation (“Digital Angel”) (OTC Market: DIGA) and all of the VeriTeQ shareholders, whereby Digital Angel will acquire all of the issued and outstanding shares of VeriTeQ’s common stock in exchange for 4,107,592 shares of Digital Angel’s Series B convertible preferred stock, and the VeriTeQ stockholders will become the majority owners of Digital Angel. In conjunction with this announcement, Digital Angel will file a Schedule 14F-1 with the U.S. Securities and Exchange Commission (“SEC”) in connection with a change in the majority of its board of directors to a group of directors designated by VeriTeQ that will be effective when the transaction closes, and it will change its name to VeriTeQ Corporation and effect a reverse stock split as soon as practicable.

VeriTeQ’s patented technology enables the unique device identification (“UDI”) of implantable medical devices. VeriTeQ also has patented biodosimetry technologies for radiation therapy treatment, and data analytics capabilities related to information gathered by its technologies. With its passive radio frequency identification (“RFID”) microchip, cleared by the U.S. Food and Drug Administration (“FDA”), VeriTeQ can enable medical device manufacturers to comply with the FDA Proposed Rule for UDI, specifically the Direct Part Marking requirement for implantable medical devices. VeriTeQ’s microchip technology is a FDA-cleared RFID solution able to report the UDI of an implantable medical device from within the body, on demand.

VeriTeQ’s radiation dosimeter technologies take implantable microchip technology beyond identification to patient treatment and safety. Its DVS SmartMarker® is the world’s first FDA cleared, implantable, wireless radiation sensor, used to measure the radiation dose delivered to a patient directly from the site of the tumor during cancer treatment. DVS SmartMarker is cleared for use in breast and prostate cancer patients. Its OneDose® adhesive technology is FDA cleared for use in cancer patients being treated with external beam radiation to measure radiation dose levels at the skin surface.

VeriTeQ has active business relationships with device manufacturers interested in using its technologies. VeriTeQ’s robust intellectual property portfolio includes more than 100 patents issued, patents pending, and patent licenses. VeriTeQ’s technologies also have multiple FDA clearances and CE marks. CE marking is a key indicator of a product's compliance with legislation in the European Union.

VeriTeQ, in conjunction with a world-leading medical center and its more than 20 hospitals and 400 outpatient clinics, is engaged in the development of a UDI data acquisition and push technology delivery system capable of providing real-time analytics and outcomes reports. VeriTeQ’s technology enables data from its technologies to be transmitted from the company’s scanning devices to a designated third party recipient database and/or electronic health record.

VeriTeQ’s Office of Medicine and Data Science is focused on linking data from disparate sources with in vivo medical devices to create complete and accurate amalgamations of patient data. Data synthesis and analytics relating directly to patient outcomes and patient safety issues created by linking multiple data sources with granular device data can be used to populate repository systems for hospitals, healthcare providers, insurance companies, Medicare/Medicaid, medical device manufacturers and regulatory authorities. The expertise offered by the Office of Medicine and Data Science can ultimately benefit the patient by providing relevant information and outcomes to medical device manufactures, thereby helping them create safer, more effective devices for patients.