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PositiveID Corporation to Conduct Comparative Laboratory Analysis of Its Non-Invasive Easy Check Breath Glucose Technology versus Current "Finger Stick" Blood Glucose Testing Method
Company to Test Its Patent-Pending Technology Related to Measuring
Acetone Levels in a Patient's Exhaled Breath
DELRAY BEACH, Fla., Apr 20, 2010 (BUSINESS WIRE) -- PositiveID Corporation ("PositiveID" or the "Company") (NASDAQ: PSID) announced today that it plans to conduct laboratory-based comparisons of the non-invasive Easy Check breath glucose analysis system versus the current standard "finger stick" blood glucose testing method. The Company plans to launch the laboratory analysis in Bet Shemesh, Israel, and believes the results from this lab-based study may facilitate the development of the prototype Easy Check breath-based device.
Following successful proof of concept that blood sugar levels can be read accurately through non-invasive breath analysis and development of a lab-scale prototype, the Company will begin the miniaturization process of the Easy Check breath detection system. The Company acquired the Easy Check breath glucose development product and associated intellectual property in February 2010.
The Easy Check breath glucose test, currently under development, is a non-invasive glucose detection system that measures the levels of acetone in a patient's exhaled breath. The Easy Check breath glucose detection system combines a proprietary chemical mixture with exhaled breath, which creates a new molecular compound that can be measured with the Company's patent-pending technology. The Company believes that its technology generates a chemical reaction that can be reliably measured and accurately depicts a patient's blood glucose level. This could eliminate a patient's need to prick his or her finger multiple times per day to get a blood sugar reading.
Scott R. Silverman, Chairman and CEO of PositiveID, said, "As we move to the next stage of development, we are eager to validate our belief that the science behind the Easy Check system and resulting non-invasive readings compare with current, more painful blood glucose testing methods, specifically the finger prick. We believe that successfully developing and commercializing a non-invasive, reliable test for blood sugar levels could transform diabetic compliance rates and patient care."
About PositiveID Corporation
PositiveID Corporation develops and markets healthcare and information management products through its RFID-based diagnostic devices and identification technologies, and its proprietary disease management tools. PositiveID operates in two main divisions: HealthID and ID Security. For more information on PositiveID, please visit www.PositiveIDCorp.com.
Statements about PositiveID's future expectations, including the likelihood that the results of the lab-based study may facilitate the development of the prototype Easy Check breath-based device, the likelihood that the Company can demonstrate successful proof of concept that blood sugar levels can be read accurately through non-invasive breath analysis, the Company's ability to develop a lab-scale prototype, the Company's ability to miniaturize the Easy Check breath detection system, the ability of the Easy Check breath glucose test to measure the levels of acetone in a patient's exhaled breath, the ability of the Company's patent pending technology to measure a new molecular compound created by a proprietary chemical mixture with exhaled breath, the ability of the Company's technology to generate a chemical reaction that can be reliably measured and accurately depicts a patient's blood glucose level, the likelihood that the Easy Check system could eliminate a patient's need to prick his or her finger multiple times per day to get a blood sugar reading, the ability of the Company to validate its belief that the science behind the Easy Check system and resulting non-invasive readings compare with current, more painful blood glucose testing methods, the likelihood that successfully developing and commercializing a non-invasive, reliable test for blood sugar levels could transform diabetic compliance rates and patient care, 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 ability of the Company successfully fund and complete the lab-based study to compare the non-invasive Easy Check breath glucose analysis system versus the current standard "finger stick" blood glucose testing method, the ability to demonstrate proof of concept, the ability to develop a lab-scale prototype, 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 19, 2010, 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.
SOURCE: PositiveID Corporation
PositiveID Corporation
Allison Tomek, 561-805-8000
atomek@positiveidcorp.com
or
CEOcast
Dan Schustack, 212-732-4300
dschustack@ceocast.com
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