DELRAY BEACH, Fla., Feb. 6, 2013 (GLOBE NEWSWIRE) -- PositiveID Corporation ("PositiveID" or "Company") (OTCBB:PSID), a developer of biological detection and diagnostics solutions, today announced that the U.S. Department of Homeland Security ("DHS") released a draft request for proposal ("RFP") for Stage 1 of BioWatch Generation 3, an autonomous biodetection system designed to protect the nation against biological threats. The final RFP for Stage 1 is expected to be released in the government's third quarter of fiscal 2013, which ends June 30th. The Stage 1 contract is expected to have a performance period of 18 months. The full roll-out of BioWatch Generation 3 is estimated at
$3.1 billion over the next five years.
William J. Caragol, Chairman and CEO of PositiveID, stated, "We believe that PositiveID is well positioned for BioWatch Generation 3, as our M-BAND detection technology (Microfluidics-based BioAgent Autonomous Networked Detector) was the only system of its kind successfully demonstrated in the field as part of the DHS Science & Technology Directorate ("S&T") BAND (BioAgent Autonomous Networked Detector) Program. In October 2012, we issued a corporate update to our stockholders about the BioWatch program, stating that we were in discussions with
strategic partners to manufacture and sell M-BAND, and reiterating our belief that the BioWatch program would soon begin to roll out. The release of the draft RFP for Stage 1 of BioWatch Generation 3 validates this belief and re-confirms the U.S. Government's focus on protecting the nation from biological threats. Moreover, in the fourth quarter of 2012, we announced that we entered into two agreements with large strategic partners that we believe position us effectively to deliver critical detection systems for our homeland defense."
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About M-BAND and Dragonfly
PositiveID's M-BAND technology, developed under contract with DHS S&T, is a bio-aerosol monitor with fully integrated systems for sample collection, processing and detection modules that continuously analyze air samples for the detection of bacteria, viruses, and toxins. Results are reported via a secure wireless network in real time to give an accurate and up to date status for fielded instruments. PositiveID's Dragonfly system is designed to deliver molecular diagnostic results from a sample in less than 30 minutes, which would enable accurate diagnostics leading to potential treatment scenarios at the point of care that are not possible with existing systems. Dragonfly is being developed further for a broad range of biological detection situations including radiation-induced cell damage within the human body, strains of influenza and other common pathogens and diseases such as E. coli, methicillin-resistant staphylococcus aureus ("MRSA") and human papilloma virus ("HPV").
About PositiveID Corporation
PositiveID Corporation is an emerging growth company and developer of biological detection and diagnostics systems for America's homeland defense industry as well as rapid medical testing. PositiveID is focused on the development of microfluidic systems for the automated preparation of and performance of biological assays in order to detect biological threats at high-value locations, as well as analyze samples in a medical environment. For more information on PositiveID, please visit http://www.PositiveIDCorp.com.
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Statements about PositiveID's future expectations, including, without limitation, the likelihood that the final RFP for Stage 1 of BioWatch Generation 3 is expected to be released in the government's third quarter of fiscal 2013, which ends June 30th; the likelihood that the Stage 1 contract is expected to have a performance period of 18 months; the likelihood that the full roll-out of BioWatch Generation 3 is estimated at $3.1 billion; the likelihood that PositiveID is well positioned for BioWatch Generation 3 as its M-BAND detection technology was the only system of its kind successfully demonstrated in the field as part of the DHS S&T BAND Program; the likelihood that the Company's two agreements with large strategic partners
position the Company effectively to deliver critical detection systems for our homeland defense; and all statements in this press release 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, PositiveID's ability to successfully pursue the BioWatch Generation 3 opportunity; 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 28, 2012, as amended on May 4, 2012, and 10-Qs filed on November 16, 2012, August 20, 2012, as amended on September 12, 2012, and May 14, 2012, 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
Source: PositiveID Corporation
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