DELRAY BEACH, Fla., Aug. 26, 2015 (GLOBE NEWSWIRE) -- PositiveID Corporation (“PositiveID” or “Company”) (OTCQB:PSID), a developer of biological detection and diagnostics solutions, announced today that it successfully achieved a new milestone in the development of its Firefly Dx PCR (polymerase chain reaction) prototype pathogen detection system (“prototype system”) with the production of the Company’s first article, molded PCR chips for the Firefly Dx cartridge.
The completion of injection-molded PCR chips represents the next stage of product maturity for the Firefly Dx prototype system. This advancement will enable the Company to produce large quantities of PCR chips at a lower cost, thereby enabling higher throughput of testing data and cost-effective field applications. PositiveID will now be able to incorporate and optimize additional assays on its Firefly Dx cartridge with a disposable PCR chip.
PositiveID’s Firefly Dx is designed to provide real-time, accurate diagnostic results in a handheld device, thereby leading to treatment scenarios at the point of need that are not possible with existing systems, which require lab-based equipment, highly trained personnel, and can take hours or even days to provide results. Firefly’s applications include point-of-need, lab-quality, detection of pathogenic organisms; agricultural and food screening in both domestic sectors and developing countries; and detection of biological agents associated with weapons of mass destruction.
“We continue to be encouraged by our sustained progress with the development and testing of the Firefly Dx prototype system,” stated William J. Caragol, Chairman and CEO of PositiveID. “This latest milestone is significant because it allows us to make our PCR chips disposable, which, we believe, represents another proof statement that Firefly Dx can fill a critical requirement for point-of-need, rapid, and cost-effective biological detection.”
About PositiveID Corporation
PositiveID Corporation is a life sciences tools and diagnostics company that develops biological detection systems for point-of-need testing and America’s homeland defense industry. 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.psidcorp.com, or connect with PositiveID on Twitter, Facebook or LinkedIn.
Statements about PositiveID's future expectations, including the likelihood that this advancement will enable the Company to produce large quantities of PCR chips at a lower cost, thereby enabling higher throughput of testing data and cost-effective field applications; the likelihood that PositiveID will now be able to incorporate and optimize additional assays on its Firefly Dx cartridge with a disposable PCR chip; the likelihood that Firefly Dx can fill a critical requirement for point-of-need, rapid, and cost-effective biological detection; 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 target the bio-threat detection and rapid medical testing sectors; the Company’s ability to complete the development and commercialization of its Firefly Dx system; 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 30, 2015, and 10-Qs filed on August 13, 2015, May 15, 2015, and November 17, 2014, 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.
Contact: PositiveID Corporation Allison Tomek (561) 805-8044 firstname.lastname@example.org Investor Relations Circadian Group (647) 930-1037