DELRAY BEACH, Fla. and TORONTO, Sept. 20, 2016 (GLOBE NEWSWIRE) -- PositiveID Corporation (“PositiveID” or “Company”) (OTCQB:PSID), a life sciences company focused on detection and diagnostics, announced today that it is conducting a pilot study with seqID inc using PositiveID’s Firefly Dx polymerase chain reaction (“PCR”) breadboard prototype pathogen detection system (“prototype system”) to detect genetically modified organisms (“GMOs”) for the agricultural market.
The goal of the pilot study with seqID is to demonstrate that Firefly Dx can successfully detect the 35S promoter gene in samples of GMO corn and soy beans. It is estimated that 80 percent of all GMO plants contain this gene and it is considered a hallmark of GMOs.
The application of using Firefly Dx to detect genetically modified corn and soybeans in a semi-quantitative analysis has significant potential value at seaports where corn and soybeans are being shipped to countries that limit the percentage of GMOs in the shipment that may be imported. Currently, all such sampling and testing is conducted in a centralized laboratory and may take as long as two weeks, potentially delaying shipment. Firefly Dx would allow a laboratory grade result within 30 minutes at “dock side,” thereby greatly speeding up the shipment time.
PositiveID is developing the Firefly Dx prototype system to be a handheld, fully automated, lab quality, real-time device able to detect pathogens at the point of need. 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. 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.
“This is yet another example of the broad potential applications and large markets that could be better served with a rapid, point-of-need detection system like Firefly Dx,” stated William J. Caragol, Chairman and CEO of PositiveID. “From protecting first responders, rapidly identifying hospital-acquired infections, accurately detecting emerging bio-threats in remote areas, and improving the safety of the food we eat, we believe Firefly Dx has the ability revolutionize the biological testing market.”
The global market for food-safety testing is projected to reach $19.7 billion by 2018, according to a report from Global Industry Analysts (GIA). GMO testing represents the fastest-growing segment in the global food-safety testing market.
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.
About seqID inc
seqID inc specializes in agricultural genomic technologies. It works together with breeding companies and technology firms to provide a suite of genomic services, new technology and consultation to help the agricultural community meet the goal of feeding an ever growing population. For more information on seqID, please visit www.seq-id.com, or connect with seqID on Twitter, Facebook or LinkedIn.
Statements about PositiveID's future expectations, including the likelihood that 80 percent of all GMO plants contain the 35S promoter gene; the likelihood that the application of using Firefly Dx to detect genetically modified corn and soybeans in a semi-quantitative analysis has significant potential value at seaports where corn and soybeans are being shipped to countries that limit the percentage of GMOs in the shipment that may be imported; the likelihood that Firefly Dx would allow a laboratory grade result within 30 minutes at “dock side,” thereby greatly speeding up the shipment time; the likelihood that Firefly Dx has the ability revolutionize the biological testing market; the likelihood that the global market for food-safety testing is projected to reach $19.7 billion by 2018; the likelihood that GMO testing represents the fastest-growing segment in the global food-safety testing market; 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 professional healthcare market, 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 April 12, 2016, and 10-Qs filed on August 12, 2016, May 16, 2016, and November 12, 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.
Contacts: PositiveID Corporation Allison Tomek (561) 805-8044 firstname.lastname@example.org seqID inc Charles Pick (416) 786-4033 email@example.com RedChip Companies Jon Cunningham (407) 644-4256 firstname.lastname@example.org