VeriChip Enters Development, Supply Agreement With Medical Components

VeriChip has signed an agreement with Medical Components (Medcomp) to develop and manufacture a radio-frequency identification microchip for use with Medcomp’s vascular access devices. Under the five-year agreement, Medcomp will receive $3 million pending the successful development of a new, smaller microchip and FDA approval for the vascular port containing the microchip, VeriChip said.