PositiveID Corporation Announces Teaming Agreement With SAIC to Pursue Defense Threat Reduction Agency Contracts
November 06 2012 - 8:30AM
PositiveID Corporation ("PositiveID") (OTCBB:PSID), an emerging
growth company and developer of airborne bio-threat detection
systems for America's homeland defense industry as well as advanced
technologies for diabetes management and rapid medical testing,
today announced it has signed a Teaming Agreement ("Teaming
Agreement") with Science Applications International Corporation
("SAIC") (NYSE:SAI) to pursue the Defense Threat Reduction Agency
("DTRA") Indefinite Delivery/Indefinite Quantity ("IDIQ") Multiple
Award Contracts supporting the Weapons of Mass Destruction ("WMD")
- Defeat Technology, Arms Control, and Nuclear Technology
Electromagnetic Research and Development/ Survivability and
Infrastructure programs.
The Teaming Agreement pairs SAIC's system engineering and
integration capabilities with PositiveID's bio-threat detection
technologies. PositiveID will offer both its Dragonfly™ Rapid MD-x
Cartridge-based diagnostic system ("Dragonfly") as well as its
M-BAND (Microfluidics-based Bioagent Networked Detector) airborne
bio-threat detector as part of the Teaming Agreement.
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").
PositiveID's M-BAND, developed under contract for the Department
of Homeland Security Science and Technology Division, is a
bioaerosol monitor with fully integrated systems with sample
collection, processing and detection modules that continuously
analyze air samples for the detection of bacteria, viruses, and
toxins with results in as little as two hours. Results from
individual M-BAND instruments are reported via a secure wireless
network in real time to give an accurate and up to date status for
fielded instruments in the aggregate.
William J. Caragol, Chairman and CEO of PositiveID, stated, "We
are very pleased to team with SAIC through this agreement, and
demonstrate the value and capabilities of our Dragonfly and M-BAND
technologies."
About PositiveID Corporation
PositiveID Corporation is an emerging growth company and
developer of airborne bio-threat detection systems for America's
homeland defense industry as well as advanced technologies for
diabetes management and rapid medical testing. Its wholly-owned
subsidiary, Microfluidic Systems, 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.
The PositiveID Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7717
Statements about PositiveID's future expectations, including the
likelihood that the companies will pursue the DTRA IDIQ Multiple
Award Contracts supporting the WMD - Defeat Technology, Arms
Control, and Nuclear Technology Electromagnetic Research and
Development/ Survivability and Infrastructure programs; the
likelihood that PositiveID will offer both its Dragonfly as well as
its M-BAND airborne bio-threat detector as part of the Teaming
Agreement; the likelihood that PositiveID's Dragonfly 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; the likelihood that 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, MRSA and HPV; 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 PositiveID's ability to successfully pursue
the DTRA IDIQ Multiple Award Contracts supporting the WMD - Defeat
Technology, Arms Control, and Nuclear Technology Electromagnetic
Research and Development/ Survivability and Infrastructure
programs; 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 28, 2012, as amended on May 4,
2012, and 10-Qs filed on August 20, 2012, as amended on September
12, 2012, May 14, 2012, and November 14, 2011, 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
Allison Tomek
561-805-8000
atomek@positiveidcorp.com