DELRAY BEACH, Fla., April 29, 2013 (GLOBE NEWSWIRE) -- PositiveID Corporation ("PositiveID" or "Company") (OTCBB:PSIDD), a developer of biological detection and diagnostics solutions, today announced it has launched the development of the Firefly Dx detection system ("Firefly"), a portable, hand-held, point-of-need molecular diagnostic system, which is being designed to provide test results from sample input through reporting of results in less than 15 to 30 minutes depending on the type of test performed. Firefly is expected to quickly process human and agricultural samples to provide accurate confirmation of biological threats via a smart-phone application.
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The goal of Firefly is to take the Company's patented molecular diagnostic technology underlying its M-BAND (Microfluidics-based Bioagent Networked Detector) airborne bio-threat detector and Dragonfly™ Rapid MDx Cartridge-based diagnostic system, and implement it in a handheld device that can be used anywhere, anytime to test for biological agents.
The Company believes the target markets for Firefly include military field deployments, remote areas with limited or no access to healthcare, border locations and others. The Company believes most of the competing technologies currently available for biological detection and diagnosis are costly, labor intensive, and often restricted to laboratory/clinical settings. This significantly limits effective point-of-care or timely monitoring of biological events at the point of need.
William J. Caragol, Chairman and CEO of PositiveID, stated, "The need for a hand-held system like Firefly is real. Whether natural or man-made, an invasive disease outbreak without proper monitoring or detection, which therefore results in less effective countermeasures, can seriously affect the health and commercial stability of livestock or human populations on a large scale. Recent events such as the ricin-laced letters sent to President Obama and other political leaders, as well as the emerging deadly strain of bird flu in China, underscore the necessity for a system like Firefly. We have begun conversations with several potential partners to attract the research and development capital to complete the development of this innovative system."
Firefly is being designed as a disposable, cartridge-based system to process a variety of sample types, including whole blood, buccal and nasopharyngeal swabs, urine, and environmental field samples. The incorporated, multiplex polymerase chain reaction ("PCR") assay is being designed to analyze for multiple, user-defined targets from a single sample. Furthermore, by taking advantage of the TaqMan®-based PCR assay and real-time detection, Firefly is being designed to measure altered gene expression levels such as those observed in endocrine diseases, radiation exposure, and cancer. Results can be immediately obtained and processed wherever you are via a smart-phone interface (or personal computer) with a specialized, mobile application and cloud-based data sharing and storage.
About PositiveID Corporation
PositiveID Corporation is an emerging growth company and developer of biological detection systems for America's homeland defense industry as well as rapid medical testing. 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 at high-value locations, as well as analyze samples in a medical environment. For more information on PositiveID, please visit http://www.PositiveIDCorp.com.
Statements about PositiveID's future expectations, including, without limitation, the likelihood that Firefly will be used in the identification of biological agents associated with weapons of mass destruction, point-of-need monitoring of pathogenic outbreaks and agricultural screening; the likelihood that Firefly is expected to quickly process human and agricultural samples to provide accurate confirmation of biological threats via a smart-phone application; the likelihood that target markets for Firefly include military field deployments, remote areas with limited or no access to healthcare, border locations and others; the likelihood that most of the competing technologies currently available for biological detection and diagnosis are costly, labor intensive, and often restricted to laboratory/clinical settings; the likelihood that the need for Firefly is real; and all statements in this press release 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 attract the research and development capital to complete the development of Firefly; 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 16, 2013 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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CONTACT: PositiveID Corporation Allison Tomek 561-805-8000 email@example.com