DELRAY BEACH, Fla., Dec. 6, 2011 (GLOBE NEWSWIRE) -- PositiveID Corporation ("PositiveID" or "Company") (OTCBB:PSID), a developer of medical technologies and molecular diagnostic systems, announced today the U.S. Patent and Trademark Office has granted the Company Patent No. 8,053,214, "Apparatus and Method for Extracting and Analyzing an Analyte from a Fluid-Based Sample." The patent was awarded to PositiveID's MicroFluidic Systems ("MFS") subsidiary, which maintains a strong and growing patent portfolio, the targeted applications of which are biological sample collection processing and detection from environmental samples and clinical samples.
William J. Caragol, Chief Executive Officer of PositiveID, said, "This latest U.S. Patent demonstrates the vast array of derivative technology stemming from M-BAND, a system developed under a decade of funding received from DHS exceeding $35 million. We believe M-BAND continues to be well positioned as a proven technology to compete for DHS' Third Generation BioWatch program, a $3 billion program to identify pathogens in the air as part of an early warning system designed to thwart a potential terrorist attack."
The Company has developed a series of miniaturized, portable microfluidic cartridges for biological sample processing and detection derived from its Microfluidics-based Bioagent Networked Detector (M-BAND), which was developed under funding from the U.S. Department of Homeland Security (DHS). M-BAND is a bioaerosol monitor with fully integrated systems with sample collection, processing and detection modules, used for airborne pathogen detection. The Company's microfluidic cartridges have potential applications ranging from differential extraction cartridges, sample processing and amplification for biodefense applications, to clinical sample processing and detection.
The Company's microfluidic cartridges have been demonstrated to be effective in sample processing and detection of environmental bacteria, such as E. coli; biothreat agents; clinical samples, such as human papilloma virus; antibiotic resistant bacteria, such as MRSA; and forensic applications, such as differential extraction. They have several advantages over other currently available options; they are lower cost, disposable, easy to use, prevent sample to sample contamination, provide fast results, portable, automated, and minimize the likelihood of human error.
MFS' patent portfolio can be categorized into three main technologies, all of which have been demonstrated in real-world applications:
About PositiveID Corporation
PositiveID Corporation develops unique medical devices and molecular diagnostic systems, focused primarily on diabetes management, rapid medical testing and airborne bio-threat detection. Its wholly-owned subsidiary, MFS, is focused on the development of microfluidic systems for automated preparation of and performance of biological assays. For more information on PositiveID, please visit www.PositiveIDCorp.com.
The PositiveID Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7717
Statements about PositiveID's future expectations, including the likelihood that the Company maintains a strong and growing patent and patent pending portfolio; the likelihood that the Company's microfluidic cartridges have potential applications ranging from differential extraction cartridges, sample processing and amplification for biodefense applications, to clinical sample processing and detection; the likelihood that they have several advantages over other currently available options, including that they are lower cost, disposable, easy to use, prevent sample to sample contamination, provide fast results, portable, automated, and minimize the likelihood of human error; the likelihood M-BAND continues to be well positioned as a proven technology to compete for DHS' Third Generation BioWatch program, a $3 billion program to identify pathogens in the air as part of a system designed to thwart a potential terrorist attack; the likelihood that all of MFS' technologies have been demonstrated in real-world applications; 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 commercialize its microfluidic cartridges; the Company's ability to successfully take advantage of the BioWatch procurement; 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.
Allison Tomek 561-805-8000
Delray Beach, Florida, UNITED STATES
Allison Tomek 561-805-8000
Day's Range: 0.05-0.05
Previous Close: 0.05
Market Cap: 3.97M
Day's Volume: 663,819
PositiveID Corporation Logo