DELRAY BEACH, Fla., Jan. 20, 2015 (GLOBE NEWSWIRE) — PositiveID Corporation (“PositiveID” or “Company”) (OTCQB:PSID), a developer of biological detection and diagnostics solutions, announced today that it is preparing additional M-BAND systems for field deployment and testing. Once deployed, the Company will have a total of six M-BAND systems in the field and under evaluation, including the four units delivered to the U.S government during the second half of 2014.
M-BAND (Microfluidic Bio-agent Autonomous Networked Detector) is currently under evaluation with a large federal government contractor to support the U.S. Department of Defense (“DoD”) JUPITR Program. As part of this program, M-BAND is being tested and evaluated to baseline performance, reliability, maintainability, ease of use, and cost of operation to provide the “best of breed” and most affordable options for the U.S. Army and U.S. Air Force. M-BAND currently performs high specificity detection for six organisms and three toxins on the Centers for Disease Control’s category A and B select agents list.
M-BAND was developed under contract with the U.S. Department of Homeland Security (“DHS”) Science & Technology directorate, and $30 million of contract funding. M-BAND continuously and autonomously analyzes air samples for the detection of biological airborne threats in the form of bacteria, viruses, and toxins, with results in as little as three hours. Faster time to detection allows the deployment of countermeasures and vaccines more quickly than existing systems, thereby reducing casualties.
“As we see increased interest from the federal government, specifically DoD and DHS, in biodetection technologies, we are preparing additional M-BAND systems for deployment to monitor air samples for potential biothreats,” said William J. Caragol, PositiveID’s Chairman and Chief Executive Officer. “We believe that procurements for these important technologies will ramp up in 2015, in order to protect our homeland security, both domestically and for our allies and troops abroad.”
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 biological 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 and analyze biological samples. For more information on PositiveID, please visit http://www.PositiveIDCorp.com.
Statements about PositiveID’s future expectations, including, without limitation, the likelihood that procurements for biodetection technologies will ramp up in 2015, in order to protect our homeland security, both domestically and for our allies and troops abroad; 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 raise capital; the Company’s ability to enter into contracts with government or commercial entities; 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 11, 2014, and 10-Qs filed on November 17, 2014, August 14, 2014, and May 20, 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.