DELRAY BEACH, Fla., June 05, 2018 (GLOBE NEWSWIRE) -- PositiveID Corporation (“PositiveID” or “Company”) (OTC:PSID) ExcitePCR subsidiary today announced publication of an article co-authored by Chief Science Officer Kimothy Smith, DVM, Ph.D., calling for an update of the previous critical effort to dismantle former Soviet nuclear weapons for the current threat of modern chemical and biological weapons of mass destruction, particularly in North Korea. The article, “Two Minutes to Doomsday – Time for Nunn-Lugar 2.0,” can be found on the Security Debrief website.
North Korea Bio Threat
The Democratic People’s Republic of Korea (DPRK) has the third largest stock of chemical weapons on the planet according to the article, including nerve, blister, blood, and vomiting agents. The next cooperative threat reduction program must be as focused on the chemical and biological threats as much or more than the nuclear threat, according to article authors.
Prior to his move to the private sector in 2008, Dr. Smith was the Senior Advisor for International Biodefense for the Department of Homeland Security (DHS), Office of Health Affairs. In that role he served as detailee to the Office of International Health & Biodefense of the U.S. State Department.
During this period as an expert specialist, he coordinated biodefense and emergency response strategies with international partners and facilitated dialogue on food safety and agricultural security. He also served as Acting Director of the National Biosurveillance Integration Center.
Importance of On-Site Detection
Dr. Smith recently published a report for the U.S. Department of Defense’s Homeland Defense & Security Information Analysis Center concluding quick deployment of user-friendly diagnostics is critical to successful containment of an agroterrorismevent.
PositiveID is developing the FireflyDX family of products to automate real-time pathogen detection at the point of care/point of need (POC/PON) faster and less expensively than existing devices.
FireflyDX's onsite pathogen detection applications are expected to include human clinical, such as infectious disease and hospital acquired infections, global food and agricultural screening, and biological warfare and biothreat defense.
About PositiveID Corporation
PositiveID Corporation is a holding company with a focus on life sciences tools and diagnostics. PositiveID’s ExcitePCR subsidiary develops biological detection and diagnostics systems, specializing in the development of microfluidic systems for the automated preparation of and performance of biological assays. PositiveID’s Thermomedics subsidiary markets the FDA-cleared Caregiver® non-contact infrared thermometer. PositiveID also owns a minority interest in E-N-G Mobile Systems, a leader in the specialty vehicle market. For more information on PositiveID, please visit http://www.psidcorp.com, or connect with PositiveID on Twitter, Facebook or LinkedIn.
On August 24, 2017, the Company and its wholly-owned subsidiary PDI (collectively, the “Seller”), entered into an Asset Purchase Agreement (“APA”) with its majority-owned subsidiary, ExcitePCR (the “Buyer”). Pursuant to the APA, at closing, the Company will own approximately 91% of ExcitePCR post-closing of the sale. The Buyer has not yet fulfilled the conditions to close the transaction which include ExcitePCR completing a financing of at least $3 million.
Statements about PositiveID's future expectations, including the likelihood that FireflyDX's onsite pathogen detection applications are expected to include human clinical, such as infectious disease and hospital acquired infections, global food and agricultural screening, and biological warfare and biothreat defense; 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 complete the testing and development of FireflyDX; the Company’s ability to raise capital; the Company’s ability to close the APA; 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 2, 2018, and 10-Qs filed on May 18, 2018, November 13, 2017, and August 14, 2017, 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.