DELRAY BEACH, Fla., June 25, 2012 (GLOBE NEWSWIRE) -- PositiveID Corporation ("PositiveID" or "Company") (OTCBB:PSID), an emerging growth company and developer of sophisticated airborne bio-threat detection systems for America's homeland defense, today announced the Company and its M-BAND System for biothreat detection are featured in the current issue of Bloomberg Businessweek in an article on the estimated $5.7 billion BioWatch procurement by the U.S. Department of Homeland Security ("DHS"). BioWatch is a nationwide bio-surveillance system designed to detect the intentional release of select aerosolized biological agents. The article appears in both the print version as well as online, and can be read at: http://mobile.businessweek.com/articles/2012-06-21/the-sky-high-price-of-sniffing-out-anthrax.
PositiveID's M-BAND, its Microfluidics-based Bioagent Autonomous Networked Detector, was developed under contract for DHS, and is an early warning system designed to detect the intentional release of aerosolized biological agents. It runs autonomously for up to 30 days between service cycles, continuously analyzing air samples, typically in high-traffic areas, for the detection of bacteria, viruses, and toxins with results in as little as three hours. Results from individual M-BAND instruments are reported via a secure wireless network in real time to give an accurate and up to date status for fielded instruments in aggregate. Designed with a high level of operational flexibility, M-BAND can be remotely set to detect for DNA-based pathogens alone, with or without either RNA-based organisms or toxins, or for all three types of pathogens simultaneously at remotely programmable intervals.
William J. Caragol, Chairman and CEO of PositiveID, said, "We believe we are well positioned to compete for Generation 3 of the BioWatch program and we continue to work toward the expected deployment of our bioaerosol detectors. We are extremely proud of our accomplishments in the development of this system over the last eight years, including, we believe, numerous technology advantages, as we have prepared our M-BAND system for this important program for our homeland defense."
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. 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.
For more information on PositiveID, please visit http://www.PositiveIDCorp.com.
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Statements about PositiveID's future expectations, including the likelihood that PositiveID's M-BAND is one of the only technologies capable of addressing the requirements of the BioWatch procurement; the likelihood that M-BAND was designed with a high level of operational flexibility; the likelihood that PositiveID is well positioned to compete for Generation 3 of the BioWatch program and the Company continues to work toward the expected deployment of its bioaerosol detectors; the likelihood that the Company's M-BAND has numerous technology advantages; the likelihood that the value of the BioWatch procurement is estimated at $5.7 billion; 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 its bio-threat detection systems for homeland defense, including its M-BAND system; the likelihood that the Company will participate in the BioWatch program; 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 28, 2012, and 10-Qs filed on May 14, 2012, November 14, 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.