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Feb 5, 2018

PositiveID’s Chief Science Officer Discusses Company’s Detection of Flu Virus on its FireflyDX Prototype in Interview with CEOLIVE.TV

Dr. Kimothy Smith discusses importance of point of care/point of need detection during flu season

DELRAY BEACH, Fla., Feb. 05, 2018 (GLOBE NEWSWIRE) -- PositiveID Corporation (the “Company”) (OTC:PSID), a life sciences company focused on detection and diagnostics, and its ExcitePCR subsidiary announced today that Chief Science Officer, Dr. Kimothy Smith, discussed the Company’s successful detection of influenza virus on its FireflyDX real-time polymerase chain reaction (“PCR”) breadboard prototype system (“prototype system”) in a new interview with CEOLIVE.TV. The interview can be viewed here.  

In the interview, Smith described the Company’s successful detection of several types of the influenza virus on its FireflyDX prototype system and discussed the importance of point-of-need detection for flu and other pathogens. Smith also detailed the ease of use of the Company’s FireflyDX prototype system and discussed how FireflyDX could enable faster, more accurate diagnosis at the point of care or point of need (“POC/PON”).  Five different flu virus assays (Type A; Type B; H3N3; H7N1; and, H5N1) were tested on the FireflyDX prototype system in the lab. 

PositiveID and ExcitePCR are developing the FireflyDX family of products in both portable and handheld forms, to provide accurate, rapid pathogen detection using real-time PCR in less than 30 minutes, with minimally trained personnel and at a lower cost than existing systems. Current solutions for accurately identifying potential pathogens and bio-threats, especially at the POC/PON, can sometimes take as long as several hours to several days to provide results, dramatically delaying what is often life-saving treatment or quarantine measures.

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 future expectations, including the likelihood that FireflyDX could enable faster, more accurate diagnosis at the point of care or point of need POC/PON; the likelihood that PositiveID and ExcitePCR are developing the FireflyDX family of products in both portable and handheld forms, to provide accurate, rapid pathogen detection using real-time PCR in less than 30 minutes, with minimally trained personnel and at a lower cost than existing systems; 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 development, testing and commercialization of the FireflyDX-Portable and FireflyDX-Handheld; the Company’s ability to target the professional healthcare market; the Company’s ability to raise capital; the Company’s and ExcitePCR’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 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 CorporationAllison Tomek
(561) 805-8044
atomek@psidcorp.com

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Source: PositiveID Corporation