Shares of VeriChip Corp CHIP.O tripled after the company said it had been granted an exclusive license to two patents, which will help it to develop implantable virus detection systems in humans.
The patents, held by VeriChip partner Receptors LLC, relate to biosensors that can detect the H1N1 and other viruses, and biological threats such as methicillin-resistant Staphylococcus aureus, VeriChip said in a statement.
The technology will combine with VeriChip's implantable radio frequency identification devices to develop virus triage detection systems.
The triage system will provide multiple levels of identification -- the first will identify the agent as virus or non-virus, the second level will classify the virus and alert the user to the presence of pandemic threat viruses and the third level will identify the precise pathogen, VeriChip said in a white paper published May 7, 2009.
Shares of VeriChip were up 186 percent at $3.28 Monday late afternoon trade on Nasdaq. They had touched a year high of $3.43 earlier in the session.
(Reporting by Mansi Dutta in Bangalore; Editing by Mike Miller and Anil D'Silva)