Startup MicroCHIP has developed technology to dispense drugs over extended periods using microchips that are implanted in the body. Unlike other passive internal drug-delivery methods already on the market, MicroCHIP can control time of delivery and dose externally. The MicroCHIP active drug delivery system uses a wireless device to control the release of
multiple drugs from a single implant in the abdomen, while also
monitoring drug levels and adjusting dosing accordingly.

The secret sauce here is their proprietary micro arrays that can release any combination of drugs or biosensors stored within the reservoirs. Preprogrammed microprocessors, wireless telemetry, or sensor feedback loops can provide active control of the opening of the reservoirs to initiate drug release or expose enclosed biosensors.

While not listed as an investor, Medtronic does have a seat on the board of MicroCHIP.