Laboratory testing proves glucose-sensing system produces a measurable response to changing glucose levels in human blood matrix
Companies publish results of testing in white paper, available at www.positiveidcorp.com
DELRAY BEACH, Fla., Aug. 17, 2011 (GLOBE NEWSWIRE) -- PositiveID Corporation ("PositiveID" or "Company") (Nasdaq:PSID), a developer of medical technologies for diabetes management, clinical diagnostics and bio-threat detection, announced today it has successfully completed Phase II testing of its GlucoChip™ glucose-sensing microchip for patients with diabetes. In Phase II, the Company, in conjunction with its development partner RECEPTORS LLC ("Receptors"), created and demonstrated a stable and reproducible, closed-cycle continuous glucose-sensing system that consistently functions in the human blood fractions that are relevant to glucose analysis in the human body. The companies have published results from their laboratory testing in a white paper titled, "Development of the Sensing System for an Implantable Glucose Sensor," available at http://www.positiveidcorp.com/files/ImplantableGlucoseSensorWhitePaper.pdf.
Demonstration of the self-contained chemical sensing system, based on Receptors' proprietary chemistry platform, requires the interaction of a combination of two components. These components are: 1) a competitive agent/signaling component, which is a dendrimer-boronic acid construct ("DBA"), and 2) a glucose competitive binding environment, which consists of immobilized monosaccharide mimics ("iDIOLs"). The interaction of glucose, the signaling component and the competitive binding environment produce a signal that is proportional to glucose levels. The proof-of-prototype demonstration assays show that the DBA:iDIOL system can produce a measurable response to changing levels of glucose within a physiologically relevant range while functioning under biologically relevant conditions.
Robert E. Carlson, Ph.D., President and Chief Scientific Officer of Receptors, said, "We have successfully developed the glucose sensing system, which is the mission critical component of the implantable glucose sensor for use by diabetic patients. A combination of Receptors' experience in both analytical systems development and artificial receptor technology has led to the successful development of this system, which is a significant milestone in the development of GlucoChip. I am especially pleased that we have developed a stable, sensitive and selective glucose-sensing system from all synthetic components, thus avoiding the stability and sensitivity issues that commonly accompany the use of biochemical reagents like enzymes or antibodies."
As the Company finalizes the optimization of the glucose-sensing system, it will incorporate the glucose-sensing system with a micro-electromechanical system signal transduction unit and the electronics of its RFID microchip to complete development of GlucoChip.
Scott R. Silverman, Chairman and CEO of PositiveID, said, "The completion of Phase II enables us to move to our next step of development, which includes the integration of the glucose-sensing system with the RFID and electronics components of our implantable microchip. We believe that with our proof of science complete and the requisite laboratory testing data, we will be able to attract engineering partners to help us realize our goal of providing a continuous glucose monitor for people with diabetes."
GlucoChip is based on the Company's FDA cleared microchip for patient identification, the VeriChip, and the Company's Patent No. 7,125,382 for an "Embedded Bio-Sensor System." The Company's Embedded Bio-Sensor System patent covers a bio-sensor system that utilizes radio frequency identification technology and includes a remote transponder in wireless communication with an implantable passively-powered on-chip transponder.
About RECEPTORS LLC
Receptors LLC develops Smart Materials products for laboratory, clinical, industrial hygiene and healthcare use that selectively capture and measure chemical, biochemical and cellular targets from complex biological, environmental or industrial samples. The Company's patented Affinity by Design™ platform has broad applicability, ranging from the isolation of disease pathway proteins for drug discovery and production of therapeutic antibodies, to the capture of bacteria and viruses for disinfection and diagnostic purposes. Receptors LLC is a private company based in suburban Minneapolis, Minnesota. For further information please visit http://www.receptorsllc.com.
About PositiveID Corporation
PositiveID Corporation develops unique medical devices and biological detection systems, focused primarily on diabetes management, rapid medical testing and airborne bio-threat detection. Its wholly-owned subsidiary, MFSI, 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.
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Statements about PositiveID's future expectations, including the likelihood that created and demonstrated a stable and reproducible, closed-cycle continuous glucose-sensing system that consistently functions in the human blood fractions that are relevant to glucose analysis in the human body; the likelihood that the proof-of-prototype demonstration assays show that the DBA:iDIOL system can produce a measurable response to changing levels of glucose within a physiologically relevant range while functioning under biologically relevant conditions; the likelihood that the Company has developed a stable, sensitive and selective glucose-sensing system from all synthetic components, thus avoiding the stability and sensitivity issues that commonly accompany the use of biochemical reagents like enzymes or antibodies; the likelihood that as the Company finalizes the optimization of the glucose-sensing system, it will incorporate the glucose-sensing system with a micro-electromechanical system signal transduction unit and the electronics of its RFID microchip to complete development of GlucoChip; the likelihood that the completion of Phase II enables the Company to move to its next step of development, which includes the integration of the glucose-sensing system with the RFID and electronics components of its implantable microchip; the likelihood that with its proof of science complete and the requisite laboratory testing data, the Company will be able to attract engineering partners to help it realize its goal of providing a continuous glucose monitor for people with diabetes; 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 attract engineering partners to help it realize its goal of providing a continuous glucose monitor for people with diabetes; the Company's ability to complete the development of its GlucoChip, 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.