PositiveID Signs Agreement With Unit of UTC Aerospace Systems for U.S. Government Contract
March 31 2014 - 8:30AM
PositiveID Corporation ("PositiveID" or "Company") (OTCQB:PSID), a
developer of biological detection and diagnostics solutions, is
proud to announce that it has signed a contract with UTC Aerospace
Systems' ISR & Space Systems unit to support a contract for the
U.S. Department of Defense ("DoD"). This contract is expected to be
performed over the next seven months, between March and September,
2014.
This contract will support the DoD Joint United States Forces
Korea Portal and Integrated Threat Recognition ("JUPITR") Program,
which is intended to detect biological threats in order to protect
our nation's warfighters and allies. The JUPITR program will
test and evaluate PositiveID's biological detection and
identification technology called M-BAND (Microfluidic Bioagent
Autonomous Networked Detector). The assessment will baseline
performance, reliability, maintainability, ease of use, and cost of
operation to provide the "best of breed" and most affordable
options for the U.S. Army and U.S. Air Force.
The Company has filed a Form 8-K with additional details
regarding the contract.
PositiveID's Chairman and Chief Executive Officer, William J.
Caragol, stated, "We are very pleased to work together with UTC
Aerospace Systems to deliver M-BAND systems for testing and
evaluation for the protection of our warfighters and supporters
through the JUPITR Program."
About PositiveID's M-BAND Technology
M-BAND (Microfluidic Bio-agent Autonomous Networked Detector)
continuously and autonomously analyzes air samples for the
detection of biological airborne threats in the form of bacteria,
viruses, and toxins. The technology was developed under contract
with the "DHS" Science & Technology directorate, and is
designed to detect the release of pathogens into the air as part of
a defense against potential terrorist attacks.
About PositiveID Corporation
PositiveID Corporation is an emerging growth company and
developer of biological detection systems for America's homeland
defense industry as well as rapid biological 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 and analyze biological samples.
For more information on PositiveID, please visit
http://www.PositiveIDCorp.com.
Statements about PositiveID's future expectations including,
without limitation, the likelihood that the contract is expected to
be performed over the next seven months, between March and
September, 2014; the likelihood that the JUPITR program will test
and evaluate PositiveID's biological detection and identification
technology called M-BAND; the likelihood that the assessment will
baseline performance, reliability, maintainability, ease of use,
and cost of operation to provide the "best of breed" and most
affordable options for the U.S. Army and U.S. Air Force; 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. 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 16,
2013, and 10-Qs filed on May 20, 2013, August 14, 2013, as amended
August 19, 2013, and November 19, 2013, 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