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PositiveID Achieves Major Firefly Dx Development Milestone

DELRAY BEACH, Fla., March 15, 2016 (GLOBE NEWSWIRE) -- PositiveID Corporation (“PositiveID” or “Company”) (OTCQB:PSID), a life sciences company focused on detection and diagnostics, announced today that it has achieved another development milestone for its Firefly Dx breadboard prototype pathogen detection system (“prototype system”). The Company has now demonstrated that the entire Firefly Dx prototype design functions as intended through the complete sample purification and detection process without the use of any third-party hardware, which is a critical component for future development and commercialization activities.

The Company successfully processed multiple samples on the Firefly Dx sample preparation breadboard and the purified sample DNA was put through the polymerase chain reaction (“PCR”) process and real-time detection on the Firefly Dx PCR breadboard. The testing was completed without the use of any commercial instruments. The next step in the development of Firefly Dx is to combine these processes and breadboards into single units and demonstrate the capability to run a test from putting the raw sample in the cartridge through sample preparation, PCR and real-time detection as a single system.

“This latest development milestone further demonstrates the full capabilities of our patented Firefly Dx technology and our cartridges,” stated William J. Caragol, Chairman and CEO of PositiveID. “We are now running on all of our own equipment, which gives us additional confidence that we will be able to successfully finalize the development of Firefly Dx. We are currently seeking a government contract or other partner to help us fund the remaining development and the build of the smaller, field-able prototype for testing by third parties to prepare for commercialization.”

The Firefly Dx prototype system incorporates sample preparation on disposable, injection molded cartridges that remove contaminants and purify samples for processing and detection with real-time PCR. The inclusion of real-time optics on the Firefly Dx prototype system enables the measurement of fluorescence with every cycle of the PCR process, which is used to understand the amount of pathogen present.

PositiveID is developing the Firefly Dx system to be a handheld, fully automated, lab quality, real-time device able to detect bio-threats at the point of need. Currently tests are run in a laboratory on large lab-based equipment and take a minimum of four hours to deliver results. A design advantage of Firefly Dx is that it does not require additional equipment or separate steps for sample preparation and purification, unlike current lab-based equipment, thus reducing time to results as well as cost per test. In addition, due to the entire process being contained in a single, disposable cartridge, there is significantly less chance of sample contamination compared to existing testing methods.

The Firefly Dx prototype system has successfully detected a number of pathogenic organisms including 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 the entire Firefly Dx prototype design functions as intended through the complete sample purification and detection process without the use of any third-party hardware, which is a critical component for future development and commercialization activities; the likelihood that the Company will be able to successfully finalize the development of Firefly Dx; 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 secure a government contract or other partner to help it fund the remaining development and the build of the smaller, field-able prototype for testing by third parties to prepare for commercialization; 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, as amended on December 31, 2015, and 10-Qs filed on November 12, 2015, August 13, 2015, and May 15, 2015, 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 atomek@positiveidcorp.com

Source:PositiveID Corporation

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