DELRAY BEACH, Fla., March 5, 2014 (GLOBE NEWSWIRE) -- PositiveID Corporation ("PositiveID" or "Company") (OTCQB:PSID), a developer of biological detection and diagnostics solutions, today announced that its Chairman and CEO, William J. Caragol, will present at the InvestorIdeas.com Security and Defense Conference at 3:30 pm on March 11, 2014, at the New York Hilton Midtown in New York City. The Company's presentation will be posted in the Investors & Media section of its website under Events & Presentations.
Mr. Caragol will discuss PositiveID's M-BAND and Firefly products. M-BAND (Microfluidic Bio-agent Autonomous Networked Detector), a proprietary airborne pathogen detection system, was developed under contract with the U.S. Department of Homeland Security ("DHS") Science & Technology directorate and $30 million of contract funding. M-BAND continuously and autonomously analyzes air samples for the detection of biological airborne threats in the form of bacteria, viruses, and toxins. M-BAND is positioned to capitalize on the next generation of BioWatch, 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.
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 more 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 at a far lower upfront cost and cost per test.
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 and analyze biological samples. For more information on PositiveID, please visit http://www.PositiveIDCorp.com.
Statements about PositiveID's future expectations including, without limitation, 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; 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. 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.