Intellectual Property to Support Sales and Licensing of Diagnostic Products
Sample Prep Technology Can be Used in the Field or Clinical Environment to Quickly Obtain and Purify Samples for Accurate Diagnosis and Treatment
DELRAY BEACH, Fla., July 20, 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 that it has been awarded a new international patent (WO2006/029387) "Handheld and Portable Microfluidic Device to Automatically Prepare Nucleic Acids for Analysis," by the World Intellectual Property Organization. The new patent, awarded to the Company's MicroFluidic Systems ("MFS") subsidiary, covers the rapid, automated, and portable sample preparation of nucleic acids, such as DNA and RNA. This technology can be applied to the detection of pathogens in both field and clinical environments to quickly purify a patient or environmental sample for accurate diagnosis. The technology purifies samples to be run on commercial PCR instruments.
"This new patent is an important addition to our repertoire of technologies aimed at automating biological sample preparation and analysis, and in particular extending it into field and clinical-based scenarios," stated Dr. M. Allen Northrup, CEO of MFS. "We expect to see this technology, as well as the many other patents held by the Company, integrated into new diagnostic products."
The patent covers a handheld and portable extraction tool includes a syringe-like device coupled to a nucleic acid purification chip. The purification chip is included within a chip block which is removable from the remaining portion of the handheld and portable extraction device. The analyte collected within the purification chip can be later removed and analyzed.
PositiveID acquired MFS in May 2011. MFS specializes in the production of automated instruments for a wide range of applications in the detection and processing of biological samples. MFS' strong portfolio of intellectual property related to sample preparation and rapid medical testing applications are complementary to PositiveID's portfolio of virus detection and diabetes management products.
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, MicroFluidic Systems, 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 this intellectual property will support sales and licensing of the Company's diagnostic products; the ability of the technology to be applied to the detection of pathogens in both field and clinical environments to quickly purify a patient or environmental sample for accurate diagnosis; the likelihood that this new patent is an important addition to its repertoire of technologies aimed at automating biological sample preparation and analysis, and in particular extend it into field and clinical-based scenarios; the likelihood that this technology, as well as the many other patents held by the Company, will be integrated into new diagnostic products; 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 the Company's ability to integrate this technology, as well as the many other patents held by the Company, into new diagnostic products for rapid biological detection, 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-Q filed on May 13, 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.