DELRAY BEACH, Fla., Feb. 21, 2017 (GLOBE NEWSWIRE) -- PositiveID Corporation ("PositiveID" or "Company") (OTC:PSID), a life sciences company focused on detection and diagnostics, announced today a summary of its 2016 highlights for its molecular diagnostics, mobile labs, and medical device businesses.
Firefly Dx Highlights
- Proved its Firefly Dx breadboard prototype pathogen detection system ("prototype system") functions as intended through the complete sample purification and detection process
- Successfully detected Zika virus on the Firefly Dx prototype system, which also detects Ebola, MRSA, MSSA, C. diff, E. coli, influenza and other pathogens
- Awarded a follow-on contract from the U.S. Department of the Interior on behalf of the U.S. Department of Homeland Security Science & Technology Directorate for the SenseNet Program Phase II, to use Firefly Dx in conjunction with its partner ENSCO
- Successfully detected genetically modified organisms on the Firefly Dx prototype
system during a pilot study with seqID inc.; results were consistent with the industry-standard, lab-based equipment used to detect the GMOs during the pilot study
E-N-G Mobile Systems Highlights ("ENG")
- Shipped a mobile lab worth in excess of $700,000 to a customer
- Second half vehicle production and modification orders, as well as service business in 2016 more than doubled from the first half
- Focused heavily on building sales in 2016 to start 2017 with over $4.0 million of orders in backlog and pipeline, including a recently announced purchase order for $1.2 million for mobile labs
Thermomedics and Caregiver®
- Signed seven new acute care medical specialty distributors for its
FDA-cleared Caregiver non-contact, infrared thermometer in 2016, bringing the total to nine for the U.S.
- Won appeal in patent infringement case in U.S. Court of Appeals in the patent infringement suit brought by Exergen Corporation
- Successfully tested the first Bluetooth®-enabled version of Caregiver
- Announced Caregiver outperformed a temporal artery thermometer during a Veterans Affairs San Diego Healthcare System study of Post Anesthesia Care Unit patients, and exceeded industry laboratory standards for accuracy and showed a high level of agreement in a pediatric study
"We are very proud of the accomplishments made by the PositiveID team in
2016, including building the sales backlog and pipelines to grow these businesses for the future while we pursue a strategic partner to fund the completion of the development and testing of Firefly Dx," said William J. Caragol, Chairman and CEO of PositiveID. "In 2017, we expect to see those efforts continue to take root and pay off, and believe we can expand our businesses both organically and through acquisition in 2017 and beyond."
PositiveID will announce its financial results for the fourth quarter and year ended December 31, 2016 when it files its Form 10-K on or about March 30, 2017.
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 specialty vehicle market, with a focus on mobile labs, and markets the Caregiver non-contact thermometer. For more information on PositiveID, please visit http://www.psidcorp.com, or connect with PositiveID on Twitter, Facebook or LinkedIn.
Statements about PositiveID's future
expectations, including the likelihood that the Company built the sales backlog and pipelines to grow these businesses for the future; the likelihood that the Company will find a strategic partner to fund the completion of the development and testing of Firefly Dx; the likelihood that in 2017, the Company's efforts to build the sales backlog and pipelines to grow these businesses for the future will continue to take root and pay off, and the Company will expand its businesses both organically and through acquisition in 2017 and beyond; the likelihood that the Company will announce its financial results for the fourth quarter and year ended December 31, 2016 when it files its Form 10-K on or about March 30, 2017; 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 target the professional healthcare market, 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 April 12, 2016, and 10-Qs filed on November 18, 2016, August 12, 2016, and May 16, 2016, 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
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