PositiveID Corporation Publishes White Paper and Data on its Successful Detection of Influenza Virus

Disruptive Diagnostic Testing at the Point of Need May Offer Important Defense Against Dangerous Flu Season

Delray Beach, Florida, UNITED STATES

DELRAY BEACH, Fla., Jan. 29, 2018 (GLOBE NEWSWIRE) -- PositiveID Corporation (“PositiveID” or “Company”) (OTC:PSID), a life sciences company focused on detection and diagnostics, announced today that it has published a white paper and data on its successful detection of the influenza virus on its FireflyDX polymerase chain reaction (“PCR”) breadboard prototype pathogen detection system (“prototype system”). The white paper can be found in the Research and White Papers section of PositiveID’s website or by clicking here.

According to a recent Washington Post article citing federal health officials, this year's flu season is already the most widespread on record, and has already caused the deaths of more children than what normally would be expected at this time of the year. More than 8,900 people have been hospitalized with laboratory-confirmed influenza since the season started October 1.

PositiveID’s FireflyDX prototype system has successfully detected influenza virus. The FireflyDX family of products is designed to provide accurate, rapid pathogen detection at the point-of-care/point-of-need (POC/PON) using real-time PCR in less than 30 minutes, with minimally trained personnel and at a lower cost than existing systems. Current solutions for accurately identifying potential pathogens and bio-threats, especially at the POC/PON, can sometimes take as long as several hours to several days to provide results, dramatically delaying what is often life-saving treatment, while also increasing costs, both personal and financial.

Five different flu virus assays (Type A; Type B; H3N3; H7N1; and, H5N1) were tested on the FireflyDX prototype system; a disposable PCR chip was loaded with the reaction and then inserted onto the FireflyDX prototype system, and the automated runs successfully synthesized cDNA using a reverse transcriptase step and then completed a 40-cycle PCR to produce the detected target results. 

PositiveID and its ExcitePCR subsidiary are developing FireflyDX, in both portable and handheld forms, to enable accurate, fast, safe, cost-effective diagnosis in the field, which may offer a highly disruptive breakthrough in combatting influenza, which is often diagnosed with a rapid influenza detection test (“RIDT”). RIDTs are not as accurate, however, as lab-based testing such as PCR. In fact, the CDC recommends that if an important clinical decision is affected by a flu test result, the RIDT result should be confirmed by a molecular assay such as PCR.

“According to the CDC, this year’s flu season is geographically widespread and patients’ health complications are abnormally high,” stated William J. Caragol, Chairman and CEO of PositiveID.  “Unfortunately, as is often the case, because lab-based testing demands both significant time and financial resources, many people being tested at the point of care or point of need with rapid influenza detection tests are getting results that are only partially accurate, or worse, not accurate at all. This may allow the flu epidemic to worsen. Fast, affordable point-of-need diagnostics should be the first line of defense, and we are developing our technology to offer just such a solution,” continued Caragol.

The predominant influenza strain this year is H3N2, which experts believe can present serious health complications. It adapts quickly to vaccines and immune responses and often leads serious outbreaks of the two influenza A viruses and two types of influenza B viruses. Seasons when the H3N2 strain dominates are associated with high levels of hospitalizations, deaths and illness.

In addition to influenza virus, the FireflyDX prototype system has also successfully detected a number of other pathogenic organisms including Zika, Ebola, E. coli, influenza, MRSA, MSSA, C. diff and others.

About PositiveID Corporation
PositiveID Corporation is a life sciences tools and diagnostics company with an extensive patent portfolio. PositiveID develops biological detection and diagnostics systems, specializing in the development of microfluidic systems for the automated preparation of and performance of biological assays. PositiveID is also a leader in the mobile technology vehicle market, with a focus on the laboratory market and homeland security. For more information on PositiveID, please visit http://www.psidcorp.com, or connect with PositiveID on Twitter, Facebook or LinkedIn.

Statements about PositiveID's future expectations, including the likelihood that disruptive diagnostic testing at the point of need may offer an important defense against a dangerous flu season; the likelihood that the FireflyDX family of products is designed to provide accurate, rapid pathogen detection at the point-of-care/point-of-need using real-time PCR in less than 30 minutes, with minimally trained personnel and at a lower cost than existing systems; the likelihood that FireflyDX may offer a highly disruptive breakthrough in combatting influenza; the likelihood that PositiveID is developing FireflyDX to be a fast, affordable point-of-need diagnostics to be the first line of defense about flu; 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. These risks and uncertainties include, without limitation, the Company’s ability to attract new customers and retain existing customers; the Company’s ability to target the professional healthcare market; the Company’s ability to raise capital; as well as 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 31, 2017, and 10-Qs filed on November 13, 2017, August 14, 2017, and May 15, 2017, 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.


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