DELRAY BEACH, Fla. - March 20, 2012 (Investorideas.com newswire) - PositiveID Corporation (OTCBB:PSID), an emerging growth company and developer of advanced technologies for diabetes management as well as sophisticated airborne bio-threat detection systems for America's homeland defense industry, announced today that it was awarded U.S. Patent No. 8,133,451 for its Dragonfly(TM) Rapid MDx Cartridge-based diagnostic system, which provides the ability to deliver molecular diagnostic results from a sample in less than 30 minutes. Dragonfly enables accurate diagnostics leading to the potential treatment scenarios at the point of care that are not possible with existing systems.
Dragonfly has been proven effective for a broad range of biological detection including radiation-induced cell damage within the human body, strains of influenza and other common pathogens and diseases such as E. coli, methicillin-resistant staphylococcus aureus (MRSA) and human papilloma virus (HPV). Dragonfly offers the precision of molecular diagnostics in an easy-to-use cartridge format that minimizes the possibility of human error. Typical current molecular diagnostic testing can take hours or even days, requires highly trained personnel and includes multiple handling steps.
William J. Caragol, Chairman and CEO of PositiveID, stated, "With Dragonfly, we have the ability to revolutionize the way healthcare is administered by enabling accurate diagnosis within minutes at the point of care, and before the patient leaves the physician's office. This allows healthcare professionals to prescribe the appropriate treatments immediately, helping to minimize the overuse of antibiotics, and enables rapid treatment and potential monitoring and quarantine measures for serious outbreaks such as certain forms of influenza."
The target markets for Dragonfly range from physicians' offices to urgent care and emergency departments that desire rapid test results and accurate diagnosis while the patient is present, and extend to military field deployments, border locations and others.
About PositiveID Corporation OTCBB:PSID)
PositiveID Corporation is an emerging growth developer of advanced technologies for diabetes management and rapid medical testing, as well as airborne bio-threat detection systems for America's homeland defense industry. Its wholly-owned subsidiary, Microfluidic Systems, or MFS, 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 the likelihood that PositiveID's M-BAND system is well positioned to take part the DHS $3.1 billion BioWatch Gen-3 opportunity, expected to be released in the first half of 2012, and is the only system of its kind that was demonstrated in the field under the DHS S&T BAND Program; the likelihood that M-BAND was the only successful system to emerge from the BAND program; the likelihood that the M-BAND instrument offers a number of advantages including decreased consumable and operating costs, a small footprint, a closed operating environment and significant flexibility of operation; the likelihood that M-BAND is the only system of its kind that has been successfully field tested indoors and outdoors, both domestically and internationally; the likelihood that M-BAND has significant benefits that set this technology apart and put PositiveID in a strong position to participate with large partners in the $3.1 billion BioWatch opportunity; and all other statements in this press release other than historical facts are "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 PositiveID's ability to successfully participate in the $3.1 billion BioWatch opportunity; as well as certain 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 March 25, 2011, and 10-Qs filed on May 13, 2011, August 15, 2011, and November 14, 2011, 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.
PositiveID Corporation (OTCBB:PSID) is a featured biotech company on Investorideas.com
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