PositiveID
Sep 26, 2017
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PositiveID Subsidiary ExcitePCR Announces Board of Advisors

Dr. R. Paul Schaudies, Charles Pick and Dr. Anilrudh Venugopal bring broad industry expertise and skilled leadership to ExcitePCR to help drive commercialization of FireflyDX

DELRAY BEACH, Fla., Sept. 26, 2017 (GLOBE NEWSWIRE) -- PositiveID Corporation (OTCQB:PSID), a life sciences company focused on detection and diagnostics, announced today its ExcitePCR Corporation subsidiary has formed a board of advisors, which includes Dr. R. Paul Schaudies, Charles Pick and Dr. Anilrudh Venugopal. The advisors' industry expertise ranges from biodefense and molecular diagnostics to agricultural genomics and infectious diseases.

Dr. R. Paul Schaudies is the CEO and co-founder of GenArraytion, a molecular diagnostics company, and an internationally recognized expert in biodefense, biotechnology and nanotechnology.  Dr. Schaudies was the science advisor to the EPA On-Scene Coordinator, and Incident Commander of the 2001 anthrax incident in Washington, DC. As a US Army Officer, he supported the United Nations as an UNSCOM inspector in Iraq. He was an AVP and Division Manager for Biological and Chemical Defense at Science Applications International Corporation for nine years, and spent 13 years as an active duty US Army officer and retired as a Lieutenant Colonel in the USAR. Dr. Schaudies was the Program Manager for Biological and Chemical Defense Research in the Central MASINT Office at the Defense Intelligence Agency, and a Senior Researcher at the Walter Reed Army Institute of Research with over 25 peer reviewed scientific publications.

Charles Pick is the President of seqID inc., which specializes in agricultural genomic technologies. Mr. Pick received his BSc in Immunology at University of Toronto and his MBA at Queens University (Smith School of Business).  He has more than 25 years of experience in the agriculture and biotechnology industries.  He began his career in the seed industry becoming VP of Canadian turf operations at the Pickseed Companies Group before becoming head of business development for BASF's agricultural genomics division (DNA LandMarks) for 11 years. In 2014, Mr. Pick launched seqID with the aim of bringing the latest genomic technologies and services to the agricultural sector.

Dr. Anilrudh Venugopal is a board certified Infectious Diseases and Internal Medicine physician with more than 15 years of clinical experience. He previously held academic faculty appointments at the Wayne State School of Medicine and the Loyola University Chicago Stritch School of Medicine. He has a strong research background with numerous publications and presentations on MRSA and Clostridium difficile infections. He also consults with pharmaceutical and medical device companies to assess the potential impact of their products and helps develop strategy to target and bring products to market.

"We brought these highly regarded industry experts on board to help accelerate value creation at ExcitePCR," stated Lyle L. Probst, CEO, President and Founder of ExcitePCR. "We believe that utilizing their relevant experience, insights and relationships enhances our ability to execute on our plans to complete the development of FireflyDX™ and achieve exponential growth for our company and our shareholders."

In May 2017, PositiveID formed ExcitePCR to own and further develop the assets of FireflyDX, which is designed to be a handheld, fully automated, lab quality, real-time device able to process samples and detect pathogens at the point of need or point of care, faster and less expensively than existing devices, without the need to return the sample to a lab for a confirmatory result. FireflyDX's applications include lab-quality, sample processing and detection of pathogenic organisms; agricultural and food screening in both domestic sectors and developing countries; and detection of biological agents associated with weapons of mass destruction.

About PositiveID Corporation
PositiveID Corporation is a holding company focused on life sciences, diagnostics, mobile laboratories, and medical devices. PositiveID's ExcitePCR subsidiary is developing the FireflyDX family of pathogen detection systems, portable devices offering rapid sample-to-result detection in less than 30 minutes using real-time polymerase chain reaction chemistry. PositiveID's E-N-G Mobile Systems™ subsidiary is a leader in the mobile technology vehicle market, with a focus on the laboratory market and homeland security. PositiveID's Thermomedics™ subsidiary markets the FDA-cleared Caregiver® non-contact thermometer for clinical use. 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 (the "Company") future expectations, including the likelihood that these highly regarded industry experts will help accelerate value creation at ExcitePCR; the likelihood that utilizing their relevant experience, insights and relationships enhances ExcitePCR's ability to execute on its plans to complete the development of FireflyDX and achieve exponential growth for the company and its shareholders; the likelihood that FireflyDX is designed to be a handheld, fully automated, lab quality, real-time device able to process samples and detect pathogens at the point of need or point of care, faster and less expensively than existing devices, without the need to return the sample to a lab for a confirmatory result; the likelihood that FireflyDX's applications include lab-quality, sample processing and detection of pathogenic organisms, agricultural and food screening in both domestic sectors and developing countries, and detection of biological agents associated with weapons of mass destruction; the likelihood that 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; 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 and ExcitePCR's ability to raise capital; PositiveID's and ExcitePCR's ability complete the testing and development of Firefly Dx; as well as other risks. Additional information about these and other factors that could affect PositiveID's business is set forth in its various filings with the Securities and Exchange Commission, including those set forth in its 10-K filed on March 31, 2017, and 10-Qs filed on August 14, 2017, May 15, 2017, and November 18, 2016, under the caption "Risk Factors." PositiveID 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.

Contacts:
PositiveID Corporation
Allison Tomek
(561) 805-8044
atomek@psidcorp.com

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Source: PositiveID Corporation

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