DELRAY BEACH, Fla., Aug. 9, 2010 (GLOBE NEWSWIRE) -- PositiveID Corporation ("PositiveID" or the "Company") (Nasdaq:PSID) announced today that it has filed a provisional patent application with the U.S. Patent and Trademark Office for an insulin pen tracking and recording device. The Insulin Tracker, a microprocessor-controlled device that slides onto standard insulin pens, enables diabetes patients to automatically track and record the amount of insulin they inject, including the time and date of each injection. The data is communicated from the Insulin Tracker's memory, along with the patient's blood glucose readings from their glucometer, to the iGlucose System database. The combined data provides a more complete record of blood glucose measurements, treatments and overall diabetes management and allows patients, caregivers and physicians to monitor compliance.
Insulin pens provide a convenient and accurate alternative to drawing up and measuring individual insulin doses. There are two types of conventional insulin pens: those that are completely disposable after providing a single dose of insulin, and those that use disposable cartridges to provide multiple doses. The Insulin Tracker device will attach to conventional insulin pens and can be removed from one pen and attached to another pen with ease. The device eliminates the need to manually or otherwise record insulin administration data.
Scott Silverman, Chairman and CEO of PositiveID, said, "Due to the cumbersome nature of manually recording blood glucose levels, insulin dosages, and the appropriate dates and times for each, many patients' diabetes logs are incomplete or even nonexistent, which directly impacts patient compliance. We believe the addition of the Insulin Tracker functionality to the iGlucose system will enable us to provide a complete solution for insulin-dependent diabetics, helping them automate the time-consuming process of manually tracking insulin data and glucose levels, thereby providing more complete health records and ultimately improved health outcomes."
PositiveID launched development of the Insulin Tracker during the second quarter of 2010 to complement and expand the functionality of its iGlucose system. The iGlucose system is a stand-alone, self-contained unit that automatically queries a diabetic user's data-capable glucometer for blood glucose data and sends that data via encrypted SMS text messaging to an online database. The iGlucose system functions without the use of a cell phone, wireless network, telephone line or personal computer. The Insulin Tracker will work seamlessly with the iGlucose system to include a patient's insulin dosing data, which is a critical component of accurate diabetes management.
About PositiveID Corporation
PositiveID Corporation develops and markets healthcare and information management products through its RFID-based diagnostic devices and identification technologies, and its proprietary disease management tools. PositiveID operates in two main divisions: HealthID and ID Security. For more information on PositiveID, please visit www.PositiveIDCorp.com.
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Statements about PositiveID's future expectations, including the likelihood that the U.S. Patent and Trademark Office will grant a patent based on the provisional patent filing, the Company's ability to successfully develop, fund and commercialize the Insulin Tracker, the ability of the Company's Insulin Tracker device to work in conjunction with its iGlucose system, the likelihood that the addition of the Insulin Tracker functionality to the iGlucose system will enable the Company to provide a complete solution for insulin-dependent diabetics, helping them automate the manual tracking of insulin data and glucose levels, thereby providing more complete health records and improved health outcomes for diabetics, 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 Securities 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 the Company's ability to successfully develop, fund and commercialize the Insulin Tracker device and the iGlucose system, 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 19, 2010, and the Company's 10-Q filed on May 6, 2010, 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.