DELRAY BEACH, Fla., Aug. 24, 2011 (GLOBE NEWSWIRE) -- PositiveID Corporation ("PositiveID" or "Company") (Nasdaq:PSID), a developer of medical technologies for diabetes management, clinical diagnostics and bio-threat detection, announced today it has filed a patent with the U.S. Patent & Trademark Office for its recently completed stable and reproducible, closed-cycle continuous glucose-sensing system that is the mission-critical component of its GlucoChip™ glucose-sensing microchip for patients with diabetes. PositiveID now has five patents and patents pending surrounding the development of GlucoChip.
Last week, the Company, in conjunction with its development partner RECEPTORS LLC ("Receptors"), announced it had completed Phase II of the GlucoChip development program, with the creation and demonstration of a continuous glucose-sensing system that consistently functions in the human blood fractions that are relevant to glucose analysis in the human body. PositiveID and Receptors published results from their laboratory testing in a white paper titled, "Development of the Sensing System for an Implantable Glucose Sensor," available at http://www.positiveidcorp.com/files/ImplantableGlucoseSensorWhitePaper.pdf.
PositiveID has also filed a patent application with the U.S. Patent & Trademark Office covering a passive radio frequency ("RF") powered electromechanical sensor for the continuous detection of glucose levels in a patient. This new system integrates RF technology, such as that described in PositiveID's previously issued Patent No. 7,125,382 entitled "Embedded Bio-Sensor System." This patent and patent application utilize RF identification technology and include a remote transponder in wireless communication with an implantable passively-powered on-chip transponder. One or more micro-electromechanical system (MEMS) devices inside the sensor register physical changes reflecting glucose levels in vivo, which are communicated via integrated electronics to an external reader.
Robert E. Carlson, Ph.D., President and Chief Scientific Officer of Receptors, said, "We continue to make considerable progress in the development of GlucoChip. The filing of this latest patent covering the glucose-sensing system represents our successful development of the core component of GlucoChip™, the stable, synthetic chemistry that responds to changing levels of glucose. We are now in an excellent position to initiate integration of the biocompatibility, MEMS signal transduction and RFID communication components into the GlucoChip prototype."
GlucoChip is based on the Company's FDA cleared microchip for patient identification, the VeriChip, and the Company's Embedded Bio-Sensor System patent. The Company's Embedded Bio-Sensor System patent covers a bio-sensor system that utilizes radio frequency identification technology and includes a remote transponder in wireless communication with an implantable passively-powered on-chip transponder. PositiveID also has an exclusive license, for use in the GlucoChip application, to Receptors' Patent No. 7,504,364 titled "Methods of Making Arrays and Artificial Receptors" and Patent No. 7,469,076 "Sensors Employing Combinatorial Artificial Receptors."
About RECEPTORS LLC
Receptors LLC develops Smart Materials products for laboratory, clinical, industrial hygiene and healthcare use that selectively capture and measure chemical, biochemical and cellular targets from complex biological, environmental or industrial samples. The Company's patented Affinity by Design™ platform has broad applicability, ranging from the isolation of disease pathway proteins for drug discovery and production of therapeutic antibodies, to the capture of bacteria and viruses for disinfection and diagnostic purposes. Receptors LLC is a private company based in suburban Minneapolis, Minnesota. For further information please visit http://www.receptorsllc.com.
About PositiveID Corporation
PositiveID Corporation develops unique medical devices and biological detection systems, focused primarily on diabetes management, rapid medical testing and airborne bio-threat detection. Its wholly-owned subsidiary, MFSI, 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's latest patent filing strengthens its intellectual property portfolio for GlucoChip; the likelihood that the Company and Receptors have created and demonstrated a continuous glucose-sensing system that consistently functions in the human blood fractions that are relevant to glucose analysis in the human bod; the likelihood that the companies continue to make considerable progress in the development of GlucoChip; the likelihood that the filing of this latest patent covering the glucose-sensing system represents the Company's successful development of the core component of GlucoChip, the stable, synthetic chemistry that responds to changing levels of glucose; the likelihood that the Company is now in an excellent position to initiate integration of the biocompatibility, MEMS signal transduction and RFID communication components into the GlucoChip prototype; 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 be granted patents by the U.S. Patent & Trademark Office; the Company's ability to complete the development of GlucoChip, 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 and August 15, 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.