MicroCHIPS

MicroCHIPS Honored With 2010 Edison Best New Product Award

Bedford, MA—April 30, 2010—MicroCHIPS, Inc., a developer of intelligent implant systems, today announced that it has received a 2010 Edison Best New Product Award™ for its Illume™ product. The product was awarded Gold in the Science and Medical Category, recognizing the benefit that it will bring to millions of people with diabetes who must manage their blood sugar intensively to stay healthy.

"We are very honored to receive this award, as it demonstrates our innovative approach and the value that our product can bring to people who struggle daily with the demands of insulin-requiring diabetes," said Ajit Gill, president and CEO of MicroCHIPS. "By applying our unique microreservoir technology to create long-lived, in-body glucose sensors, we believe we can help people manage their diabetes with much more ease and with better results."

The Illume™ Continuous Glucose Management System is being created as part of the next generation of consumer-focused diabetes management tools. The system is a long-term, multi-sensor implant designed to wirelessly deliver continuous, convenient, reliable and accurate glucose measurements for a full year. Designed to be placed just under the skin, this breakthrough product is currently undergoing testing with the goal of reaching the market in the next few years.

"Innovation is more important now than ever," said Sarah Miller Caldicott, great grand-niece of Thomas Edison and Chair of the Edison Best New Product Awards. "The Edison Award winners are the moving parts in the engine of economic growth. They inspire people to think outside the box and improve the lives of people around the world."

MicroCHIPS, which recently completed a $16.5M round of funding to support the next phase of its development, is creating a new generation of sophisticated medical systems that can sense critical biochemical changes and rapidly deliver therapy. The company has two programs in significant diseases that are slated for initial clinical testing this year. The first is a long-lived implant for continuous glucose monitoring (CGM) for people with diabetes, and the second is an in-body device designed to deliver precise doses of an anabolic bone-building therapy for severe osteoporosis.

About the Edison Awards

The Edison Awards, a peer-review honor similar to the Oscars, is voted on by roughly 2,000 members of the not-for-profit Marketing Executives Networking Group (MENG), America’s top executives and academics. The awards symbolize the persistence and excellence personified by Thomas Alva Edison, inspiring America’s drive to remain in the forefront of innovation, creativity and ingenuity in the global economy.

About MicroCHIPS

MicroCHIPS, Inc. is pioneering intelligent implanted devices designed to improve the health of millions of people with critical conditions that require careful monitoring and precise therapy. First developed at the Massachusetts Institute of Technology, MicroCHIPS’ technologies use microreservoir arrays to store and protect chemical sensors or potent drugs within the body for extended periods of time. The reservoir arrays are compatible with preprogrammed microprocessors, wireless communications and sensor feedback loops to provide precise, dynamic control of drug release and in-body biochemical monitoring. For more information, please visit our Web site at www.mchips.com.

# # #

For more information, contact:

Matt Burke, Press Contact
mburke@mchips.com 603-315-0618