Company Launches Detection Assay With New White Paper on Its Ricin Assay at www.positiveidcorp.com
DELRAY BEACH, Fla., Oct. 18, 2011 (GLOBE NEWSWIRE) -- PositiveID Corporation ("PositiveID" or "Company") (OTCBB:PSID), a developer of medical technologies for diabetes management, clinical diagnostics and bio-threat detection, announced that the U.S. Department of Homeland Security ("DHS") Science and Technologies ("S&T") division has directed and funded the development of the Company's immunodetection assay for the identification of Ricin toxin to meet the specific needs that DHS has in securing the nation against biological threats. Ricin, a chemical warfare agent, is derived from the seeds of the castor oil plant Ricinus communis and has become a tool of terrorist groups across the world due to its effortless production and high toxicity.
PositiveID's MicroFluidic Systems ("MFS") subsidiary developed the immunodetection assay, which is now available, for the rapid identification of Ricin toxin. In addition to the individual detection of Ricin toxin, MFS also offers a triplex assay for the simultaneous detection of three toxins: Ricin, Botulinum, and Staphylococcal Enterotoxin B (SEB). The white paper can be found on the Company's website at http://www.positiveidcorp.com/files/The_Microfluidic_Systems_Immunodetection_Assay_for_the_Identification_of_RICIN.pdf.
Mr. Lyle Probst, Vice President of Programs at MFS, said, "Our assay for the identification of Ricin toxin, which has the potential to be used as an agent of biological warfare, relies on proven and well understood technologies. In a recent evaluation of our immunodetection assay for Ricin compared to the current gold standard method of identification, the MFS Assay for the identification of Ricin is equivalent or better. As an additional advantage, with minimal effort, this assay can be reconfigured to fit other commercial platforms."
About PositiveID Corporation
PositiveID Corporation develops unique medical devices and molecular diagnostic systems, focused primarily on diabetes management, rapid medical testing and airborne bio-threat detection. Its wholly-owned subsidiary, MFS, is focused on the development of microfluidic systems for automated preparation of and performance of biological assays. For more information on PositiveID, please visit www.PositiveIDCorp.com.
The PositiveID Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7717
Statements about PositiveID's future expectations, including the likelihood that DHS S&T directed and funded the development of the Company's immunodetection assay for the identification of Ricin toxin to meet the specific needs that DHS has in securing the nation against biological threats; the likelihood that Ricin has become a tool of terrorist groups across the world due to its effortless production and high toxicity; the likelihood that the Company's assay for the identification of Ricin toxin relies on proven and well understood technologies; the likelihood that the Company's immunodetection assay for Ricin compared to the current gold standard method of identification is equivalent or better; the likelihood that, with minimal effort, this assay can be reconfigured to fit other commercial platforms; 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 commercialize the immunodetection assay for Ricin toxin, 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 and August 15, 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.