PositiveID Corporation Announces Lawrence Livermore National Laboratory Evaluation of PositiveID’s FireflyDX

DELRAY BEACH, Fla., Jan. 22, 2018 (GLOBE NEWSWIRE) -- PositiveID Corporation (OTC:PSID), a life sciences company focused on detection and diagnostics, and its ExcitePCR Corporation subsidiary, announced today that Lawrence Livermore National Laboratory has completed an analysis and report of the FireflyDX real-time polymerase chain reaction (PCR) pathogen detection prototype. PositiveID and ExcitePCR have published the report on their websites.

The FireflyDX™ prototype system is designed to be a portable, fully automated, lab quality, real-time device able to process samples and detect pathogens at the point of care/point of need (POC/PON), faster and less expensively than existing devices.

“We are extremely proud to demonstrate the progress we’ve made in the development of FireflyDX, which, we believe, better positions ExcitePCR for the appropriate funding to move FireflyDX to its next stage and closer to commercialization,” stated Lyle L. Probst, CEO and President of ExcitePCR.

“The opportunity to show the FireflyDX prototype system in action and present data that validates our detection capabilities and demonstrates our ability to compete against industry-standard, lab-based equipment was a high point for the ExcitePCR team,” said Dr. Kimothy Smith, Chief Science Officer of ExcitePCR.

FireflyDX's applications include the near real-time detection of pathogenic organisms in verticle 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 report, which has been partially redacted due to the proprietary nature of certain content, was prepared under agreement between PositiveID and Lawrence Livermore National Laboratory. 

Disclaimer: This document may contain research results that are experimental in nature, and neither the United States Government, any agency thereof, Lawrence Livermore National Security, LLC, nor any of its employees makes any warranty, express or implied, or assumes any legal liability or responsibility for the accuracy, completeness, or usefulness of any information, apparatus, product, or process disclosed, or represents that its use would not infringe privately owned rights. Reference to any specific commercial product, process, or service by trade name, trademark, manufacturer, or otherwise does not constitute or imply an endorsement or recommendation by the U.S. Government or Lawrence Livermore National Security, LLC. The views and opinions of authors expressed herein do not necessarily reflect those of the U.S. Government or Lawrence Livermore National Security, LLC and will not be used for advertising or product endorsement purposes.

About PositiveID Corporation
PositiveID Corporation is a life sciences tools and diagnostics company with an extensive patent portfolio. PositiveID develops biological detection and diagnostics systems, specializing in the development of microfluidic systems for the automated preparation of and performance of biological assays. PositiveID is also a leader in the mobile technology vehicle market, with a focus on the laboratory market and homeland security. For more information on PositiveID, please visit http://www.psidcorp.com, or connect with PositiveID on Twitter, Facebook or LinkedIn.

On August 24, 2017, PositiveID Corporation and its wholly-owned subsidiary PositiveID Diagnostics, Inc.  (collectively, the “Seller”), entered into an Asset Purchase Agreement (“APA”) with ExcitePCR Corporation. Pursuant to the APA, at closing, the Seller will sell and deliver to ExcitePCR all assets used in connection with the operation of the FireflyDX technology. For more information on the APA, please read PositiveID’s Form 8-K filed on August 28, 2017, which can be found here.

Statements about PositiveID's (“Company”) future expectations, including the likelihood that FireflyDX is designed to be a portable, fully automated, lab quality, real-time device able to process samples and detect pathogens at the POC/PON, faster and less expensively than existing devices; the likelihood that demonstrating the progress the Company has made in the development of FireflyDX better positions ExcitePCR for the appropriate funding to move FireflyDX to its next stage and closer to commercialization; the likelihood that FireflyDX's applications include the near real-time detection of pathogenic organisms in verticle 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; 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 attract new customers and retain existing customers; the Company’s ability to target the professional healthcare market; the Company’s ability to raise capital; the Company’s ability to complete the testing and development of FireflyDX; the likelihood that the Company and ExcitePCR will 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 March 31, 2017, and 10-Qs filed on November 13, 2017, August 14, 2017, and May 15, 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.

Contact:
PositiveID Corporation
Allison Tomek
(561) 805-8044
atomek@psidcorp.com

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Source: PositiveID Corporation