DELRAY BEACH, Fla., Feb. 13, 2012 (GLOBE NEWSWIRE) -- PositiveID Corporation ("PositiveID") (OTCBB:PSID), a developer of medical technologies for diabetes management, announced today positive preliminary results from its biotransport research study with the Diabetes Research Institute ("DRI") at the University of Miami relating to PositiveID's GlucoChip™. GlucoChip is a glucose-sensing implantable microchip, currently under development with partner RECEPTORS LLC, for individuals with diabetes. Preliminary results demonstrate that the membrane materials to be used with GlucoChip allow for successful movement of glucose from body fluids.
PositiveID's first animal studies were designed to test the membrane materials that will be the interface between the glucose sensing device and the in vivo environment by evaluating the ability of glucose to pass through the membrane to the sensing device (glucose transport).
Robert E. Carlson, Ph.D., President and Chief Scientific Officer of RECEPTORS, said, "These first studies were successfully completed with the demonstration that a glucose tracer readily enters the device from surrounding body fluids. We are currently implementing the next phase of these studies, which will focus in more detail on both the kinetics of transport, which will determine how quickly the device will be able to respond to changes in glucose levels in the body, and on the long-term biocompatibility of the membrane."
PositiveID Chairman and CEO William J. Caragol said, "We believe the preliminary results from our research study at the DRI are not only positive but also promising as we proceed with our development. By achieving early confirmation that the membrane materials we will use with GlucoChip allow for movement of glucose from fluids in the body into the glucose-sensing device, we have begun to eliminate one of the significant hurdles of this potentially ground-breaking development project."
PositiveID and RECEPTORS LLC have completed prototype development of a stable and reproducible, closed-cycle continuous glucose-sensing system, which is the mission-critical component of GlucoChip. Continued positive results from the biocompatibility and biotransport study would position PositiveID to incorporate the glucose-sensing system with a micro-electromechanical system signal transduction unit and the electronics of a radio frequency identification microchip to complete development of GlucoChip.
GlucoChip is based on the PositiveID's Patent No. 7,125,382 for an "Embedded Bio-Sensor System." The 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. PositiveID now has five patents and patents pending surrounding the development of GlucoChip.
More than 25 million children and adults in the U.S. have diabetes, or over 8 percent of the population, according to the 2011 National Diabetes Fact Sheet. The CDC predicts that nearly 30 percent of children born after the year 2000 will develop diabetes. The lifetime risk of developing diabetes for those born in the year 2000 is 35 percent. The total cost of diagnosed diabetes in the U.S. is estimated at $200 billion.
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 preliminary results demonstrate that the membrane materials to be used with GlucoChip allow for successful movement of glucose from body fluids; the likelihood that these first studies were successfully completed with the demonstration that a glucose tracer readily enters the device from surrounding body fluids; the likelihood that the next phase of these studies, which will focus in more detail on both the kinetics of transport, will determine how quickly the device will be able to respond to changes in glucose levels in the body, and on the long-term biocompatibility of the membrane; the likelihood that the preliminary results from PositiveID's research study at the DRI are not only positive but also promising as the company proceeds with its development; the likelihood that by achieving early confirmation that the membrane materials PositiveID will use with GlucoChip allow for movement of glucose from fluids in the body into the glucose-sensing device, the company has begun to eliminate one of the significant hurdles of this exciting development project; the likelihood that the prototype development of a stable and reproducible, closed-cycle continuous glucose-sensing system is the mission-critical component of GlucoChip; the likelihood that continued positive results from the biocompatibility and biotransport study would position the company to incorporate the glucose-sensing system with a micro-electromechanical system signal transduction unit and the electronics of a radio frequency identification microchip to complete development of GlucoChip; the likelihood that nearly 30 percent of children born after the year 2000 will develop diabetes; the likelihood that the lifetime risk of developing diabetes for those born in the year 2000 is 35 percent; 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 this research study of the membrane materials to be used in GlucoChip of Easy Check; PositiveID's ability to complete development of and commercialize 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, 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.