DELRAY BEACH, Fla., Jan. 28, 2014 (GLOBE NEWSWIRE) -- PositiveID Corporation ("PositiveID" or "Company") (OTCQB:PSID), a developer of biological detection and diagnostics solutions, today announced that its homeland security and medical diagnostics products, M-BAND and Firefly, are featured in Government Security News and Homeland Security Today.
PositiveID's M-BAND (Microfluidic Bio-agent Autonomous Networked Detector) continuously and autonomously analyzes air samples for the detection of biological airborne threats in the form of bacteria, viruses, and toxins. The technology was developed under contract with the U.S. Department of Homeland Security ("DHS") Science & Technology directorate, which included $30 million of contract funding. M-BAND is positioned to capitalize on the next generation of BioWatch, which is the U.S. government's $3-$5 billion program to detect the release of pathogens into the air as part of a defense against potential terrorist attacks on major American cities.
The Company's Firefly Dx is a point-of-need, handheld system designed to deliver molecular diagnostic results using real-time TaqMan® PCR (polymerase chain reaction) chemistry. Firefly is being developed to meet the growing need in healthcare and molecular diagnostics markets for more rapid and accurate point-of-need diagnostics that will enable hospitals, physicians and other providers to save lives. Firefly can derive results from a sample in less than 20 minutes, at the point of need, compared to two to four hours for a lab device, which would enable accurate diagnostics leading to more rapid and effective treatment than what is currently available with existing systems.
William J. Caragol, Chairman and CEO of PositiveID, stated, "We are actively engaged with our strategic partners and homeland security officials at the federal, state and local levels to bring our products to market to help protect our nation from bio-terrorism and other medical emergencies."
Last week, PositiveID published a report on the market opportunities for M-BAND and Firefly. A copy of the report is available on PositiveID's website at http://www.positiveidcorp.com/files/PositiveID_Market_Opportunities_2014-01-24.pdf.
About PositiveID Corporation
PositiveID Corporation is an emerging growth company and developer of biological detection systems for America's homeland defense industry as well as rapid biological testing. PositiveID is focused on the development of microfluidic systems for the automated preparation of and performance of biological assays in order to detect biological threats at high-value locations, as well as analyze samples in a medical environment. For more information on PositiveID, please visit http://www.PositiveIDCorp.com.
Statements about PositiveID's future expectations, including, without limitation, the likelihood that M-BAND is positioned to capitalize on the next generation of BioWatch; the likelihood that Firefly is being developed to meet the growing need in healthcare and molecular diagnostics markets for more rapid and accurate point-of-need diagnostics that will enable hospitals, physicians and other providers to save lives; the likelihood that Firefly would enable accurate diagnostics leading to more rapid and effective treatment than what is currently available with existing systems; and all statements in this press release constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and PositiveID's actual results could differ materially from expected results. These risks and uncertainties include, without limitation, the Company's ability to target the bio-threat detection and rapid medical testing sectors; as well as other risks. Additional information about these and other factors that could affect the Company's business is set forth in the Company's various filings with the Securities and Exchange Commission, including those set forth in the Company's 10-K filed on April 16, 2013, and 10-Qs filed on May 20, 2013, August 14, 2013, as amended August 19, 2013, and November 19, 2013, under the caption "Risk Factors." The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.