PositiveID’s Dragonfly Clinical Diagnostic Platform is Faster, Less Expensive Than Industry Standard
DELRAY BEACH, Fla., March 28, 2012 (GLOBE NEWSWIRE) — PositiveID Corporation (“PositiveID” or “Company”) (OTCBB:PSID), an emerging growth company and developer of advanced technologies for diabetes management as well as sophisticated airborne bio-threat detection systems for America’s homeland defense industry, announced today that it has received material from the U.S. Centers for Disease Control and Prevention’s (CDC) Influenza Division-National Center for Immunization and Respiratory Diseases to develop a diagnostic assay to detect Influenza A H5N1, also known as avian flu. This assay will provide a test result in less than 30 minutes at the point of care, and is expected to be available for the upcoming flu season for diagnostic and surveillance applications.
The United Nations has urged people to be ready against a possible but major resurgence of the avian flu. According to the CDC, of the few avian influenza viruses that have crossed the species barrier to infect humans, the mutant strain of bird flu has caused the largest number of detected cases of severe disease and death in humans. Human cases of avian influenza A (H5N1) have been reported in Asia, Africa, Europe, Indonesia, Vietnam, the Pacific, and the near East. Slightly more than 60 percent of those who became ill have died.
PositiveID’s assay for avian flu, as well as its other currently available assays, will run on the Company’s patented Dragonfly Rapid MDx platform. Dragonfly was created out of the Company’s M-BAND system, which was developed under contract from the Department of Homeland Security. The H5N1 assay will also be compatible with other commercial platforms.
The Company currently has proven assays for E.coli O157:H7; human papilloma virus (HPV); methicillin-resistant Staphylococcus aureus (MRSA); and a multiplex bio-threat assay that simultaneously tests for six bio-threat organisms on the CDC Category A and B list.
The development of an H5N1 assay is the Company’s most recent push into the clinical diagnostics market, where it will offer faster, less expensive testing methods than those that are commonly used.
William J. Caragol, Chairman and CEO of PositiveID, stated, “Our assay for H5N1, as well as our other clinical diagnostic assays, will be faster and less expensive than the industry standard testing protocol. Furthermore, our microfluidic technology is highly adaptable, which enables us to develop new assays for emerging bio-threats and viruses relatively quickly, which we believe will help us as we enter the clinical diagnostic market.”
About PositiveID Corporation
PositiveID Corporation is an emerging growth company and developer of advanced technologies for diabetes management and rapid medical testing, as well as airborne bio-threat detection systems for America’s homeland defense industry. Its wholly-owned subsidiary, Microfluidic Systems, or MFS, 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.
The PositiveID Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7717
For more information on PositiveID, please visit http://www.PositiveIDCorp.com.
Statements about PositiveID’s future expectations, including the likelihood that the avian flu assay will provide a test result in less than 30 minutes at the point of care, and is expected to be available for the upcoming flu season for diagnostic and surveillance applications; the likelihood that PositiveID’s assay for avian flu, as well as its other currently available assays, will run on the Company’s patented Dragonfly Rapid MDx platform; the likelihood that the H5N1 assay will also be compatible with other commercial platforms; the likelihood that in clinical diagnostics the Company will offer faster, less expensive testing methods than those that are commonly used and the industry standard testing protocol; the likelihood that the Company’s microfluidic technology is highly adaptable, which enables it to develop new assays for emerging bio-threats and viruses relatively quickly, and that ability will help the Company as it enters the clinical diagnostic market; and all other statements in this press release other than historical facts are “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 PositiveID’s ability to successfully complete development of and commercialize its assay for the avian flu and its Dragonfly technology; as well as certain 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 25, 2011, and 10-Qs filed on May 13, 2011, August 15, 2011, and November 14, 2011, 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: Allison Tomek
Source: Globe Newswire (March 28, 2012 – 8:29 AM EDT)