PositiveID Corporation Signs Space Act Agreement With NASA
May 05 2014 - 8:30AM
PositiveID Corporation ("PositiveID" or "Company") (OTCQB:PSID), a
developer of biological detection and diagnostics solutions,
announced today that it has signed a Space Act Agreement with
NASA's Ames Research Center to collaborate on testing the Company's
Firefly Dx detection system ("Firefly") as a platform for
biological research and commercial development for ground and space
applications.
PositiveID's Firefly Dx is a point-of-need, handheld system
designed to deliver molecular diagnostic results using real-time
TaqMan® PCR (polymerase chain reaction) chemistry. Firefly is
intended to derive results from a sample in less than 20 minutes at
the point of need, compared to two to four hours for a lab device.
Quicker, accurate diagnostics derived from Firefly may lead to more
rapid and effective treatment than what is currently available with
existing systems. Firefly is being developed to meet the growing
need for more rapid and accurate point-of-need diagnostics that
will enable hospitals, first responders, and other providers to
save lives.
Under this Space Act Agreement, NASA will assess the Company's
Firefly Dx technology for potential ground and space applications,
while PositiveID will assess the technology to improve its
development of the Firefly Dx hardware for extreme environments,
such as Department of Defense field applications.
William J. Caragol, Chairman and CEO of PositiveID, said, "We
are very proud to collaborate with NASA's world-class team of
scientists and researchers on the continued development of Firefly
to advance mission-critical applications for point-of-need
diagnostics, both in space and on the front lines to protect our
nation from future bioterrorism threats."
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 Firefly is being developed
to meet the growing need for more rapid and accurate point-of-need
diagnostics that will enable hospitals, first responders, and other
providers to save lives; the likelihood that Firefly is intended to
derive results from a sample in less than 20 minutes at the point
of need, compared to two to four hours for a lab device; the
likelihood that quicker, accurate diagnostics derived from Firefly
may lead to more rapid and effective treatment than what is
currently available with existing systems; the likelihood that
under this Space Act Agreement, NASA will assess the Firefly Dx
technology for potential ground and space applications, while
PositiveID will assess the technology to improve the Company's
development of the Firefly Dx hardware for extreme environments,
such as Department of Defense field applications; 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 11,
2014, 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