DELRAY BEACH, Fla., June 25, 2018 (GLOBE NEWSWIRE) -- PositiveID Corporation (“PositiveID” or “Company”) (OTC:PSID) announced today its ExcitePCR subsidiary has joined Cambridge Healthtech Institute’s meeting of internationally recognized experts in detection and biological threats, Biodetection Technologies: Biothreat and Pathogen Detection, to be held in Bethesda, MD June 27-28th.
ExcitePCR Chief Science Officer Kimothy Smith DVM, Ph.D., will participate in a discussion centered on cutting-edge strategies to overcoming hurdles to global biological threats defense and detection, and obstacles faced in getting detection technologies from lab to field, such as ExcitePCR’s FireflyDX family of point-of-care (POC) pathogen detection.
ExcitePCR is developing the FireflyDX family of pathogen detection systems, portable devices offering rapid sample-to-result detection in less than 30 minutes using real-time polymerase chain reaction (PCR) chemistry at the point-of-need or point-of-care. The FireflyDX systems will combine sample lysis, purification, real-time PCR analysis, and reporting of results in one device.
FireflyDX's applications are expected to include the near real-time detection of pathogenic organisms in vertical markets addressing human clinical applications, infectious diseases, and hospital-acquired infections; agricultural and food screening in both domestic sectors and developing countries; and detection of biological agents associated with weapons of mass destruction.
FireflyDX is designed to operate with any commercial assay, including those used by Center for Disease Control (CDC) and the World Health Organization (WHO) in order to foster widespread adoption.
About PositiveID Corporation
PositiveID Corporation is a holding company with a focus on life sciences tools and diagnostics. PositiveID’s ExcitePCR subsidiary develops biological detection and diagnostics systems, specializing in the development of microfluidic systems for the automated preparation of and performance of biological assays. PositiveID’s Thermomedics subsidiary markets the FDA-cleared Caregiver® non-contact infrared thermometer. PositiveID also owns a minority interest in E-N-G Mobile Systems, a leader in the specialty vehicle market. For more information on PositiveID, please visit http://www.psidcorp.com, or connect with PositiveID on Twitter, Facebook or LinkedIn.
On August 24, 2017, the Company and its wholly-owned subsidiary PDI (collectively, the “Seller”), entered into an Asset Purchase Agreement (“APA”) with its majority-owned subsidiary, ExcitePCR (the “Buyer”). Pursuant to the APA, at closing, the Company will own approximately 91% of ExcitePCR post-closing of the sale. The Buyer has not yet fulfilled the conditions to close the transaction which include ExcitePCR completing a financing of at least $3 million.
Statements about PositiveID's future expectations, including the likelihood that the FireflyDX family of pathogen detection systems are portable devices offering rapid sample-to-result detection in less than 30 minutes using real-time PCR chemistry at the point-of-need or point-of-care; the likelihood that the FireflyDX systems will combine sample lysis, purification, real-time PCR analysis, and reporting of results in one device; the likelihood that FireflyDX's applications are expected to include the near real-time detection of pathogenic organisms in vertical markets addressing human clinical applications, infectious diseases, and hospital-acquired infections; agricultural and food screening in both domestic sectors and developing countries; and detection of biological agents associated with weapons of mass destruction; the likelihood that FireflyDX is designed to operate with any commercial assay, including those used by Center for Disease Control (CDC) and the World Health Organization (WHO) in order to foster widespread adoption; constitute "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, without limitation, the Company’s ability to complete the testing and development of FireflyDX; the Company’s ability to raise capital; the Company’s ability to close the APA; as well as 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 April 2, 2018, and 10-Qs filed on May 18, 2018, November 13, 2017, and August 14, 2017, 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.