DELRAY BEACH, Fla., April 20, 2011 (GLOBE NEWSWIRE) -- PositiveID Corporation ("PositiveID" or the "Company") (Nasdaq:PSID), a leader in next generation patient monitoring and diagnostics, announced today that it has developed a new sample preparation method to help ensure a successful diagnostic system through its ability to improve detection and processing of biological samples for more accurate test results. The Company also intends to expand its diagnostic testing platform to include additional biological testing within the healthcare market, and extend those applications to the homeland security market.
In conjunction with its development partner, Receptors LLC, PositiveID has discovered an improvement in sample preparation technology that it believes will minimize false-positive and false-negative test results. Any sample, ranging from urine to blood and even food, etc., has to be processed for presentation to the analysis device or test. PositiveID's sample prep application readily identifies the ideal sample preparation environment with the right balance of analyte concentration and purification (i.e. to isolate flu virus from a sample) using a scalable, cost-effective technology.
PositiveID believes its sample prep application is an improvement from generic sample preparation methods, which are limited because they frequently require substantial hands-on time to overcome their poor specificity toward purification and dilution of the analyte of interest. On the other end of the spectrum, analyte-specific methods, which are usually based on highly specific capture agents like antibodies, are limited by cost and stability. Their specificity can actually be a disadvantage, especially for rapid screening and triage applications. This leaves a significant gap for a technology that selectively captures the targets that matter (i.e. bacteria and viruses) and efficiently presents them in a format for fast screening confirmation and read-out. This gap is addressed by Receptors' CARA™ (Combinatorial Artificial Receptor Array) AFFINITY by DESIGN™ technology, exclusively licensed to PositiveID for specific applications.
The Company will look to expand its diagnostic testing platform to other healthcare and homeland security applications and is focused on the convergence of rapid biological testing with airborne homeland security threats. PositiveID believes many existing solutions to detect and identify biological threats are not stable or scalable, and require specialized, off-site handling taking too long to produce results (more than 24 hours). The Company is focused on on-site testing methods that can produce results quickly against a broad range of biological threats.
Scott R. Silverman, Chairman and CEO of PositiveID, stated, "As we move forward with the expansion of our biological testing platform, we will look this year to monetize the advances we have made in our sample prep method, which we believe will result in better, more economical diagnostic tests. We also believe that through our relationships with Receptors and others we can quickly create a strong portfolio of bio-threat detection capabilities to thwart both natural and man-made outbreaks of infectious diseases in our country and abroad."
About PositiveID Corporation
PositiveID Corporation develops and markets healthcare and information management products through its diagnostic devices and identification technologies, and its proprietary disease management tools. PositiveID's implantable healthcare devices and external hardware and software products are designed to communicate wirelessly to improve healthcare and the patient's quality of life. For more information on PositiveID, please visit .
The PositiveID Corporation logo is available at
Statements about PositiveID's future expectations, including the ability of the Company's new sample preparation method to help ensure a successful diagnostic system through its ability to improve detection and processing of biological samples for more accurate test results; the likelihood the Company will expand its diagnostic testing platform to include additional biological testing within the healthcare market, and extend those applications to the homeland security market; the likelihood that the Company and its development partner, Receptors LLC, have discovered an improvement in sample preparation technology that will minimize false-positive and false-negative test results; the ability of PositiveID's sample prep application to readily identify the ideal sample preparation environment with the right balance of analyte concentration and purification using a scalable, cost-effective technology; the likelihood that PositiveID's sample prep application is an improvement from generic sample preparation methods; the ability of Receptors' CARA™ AFFINITY by DESIGN™ technology, exclusively licensed to PositiveID for specific applications, to selectively capture the targets that matter and efficiently present them in a format for fast screening confirmation and read-out; the likelihood that the Company will look to expand its diagnostic testing platform to other healthcare and homeland security applications; the likelihood that the Company is focused on the convergence of rapid biological testing with airborne homeland security threats; the likelihood that the Company will expand into on-site testing methods that can produce results quickly against a broad range of biological threats; the ability of PositiveID to monetize this year the advances it has made in its sample prep method, and the likelihood that this method will result in better, more economical diagnostic tests; the likelihood that the Company, through its relationships with Receptors and others, can quickly create a strong portfolio of bio-threat detection capabilities to thwart both natural and man-made outbreaks of infectious diseases in our country and abroad; 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 successfully commercialize its sample preparation application, the Company's ability to expand its medical diagnostic testing platform to other healthcare and homeland security applications, 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, 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: Allison Tomek 561-805-8000 atomek@positiveidcorp.com Dan Schustack CEOcast 212-732-4300 dschustack@ceocast.com
