Company projects that a product like ExcitePCR's FireflyDX could
transform the $28 billion global point-of-care diagnostics
market
Delray Beach, FL -- October 24, 2017 -- InvestorsHub NewsWire --
PositiveID Corporation ("PositiveID" or "Company") (OTCPK:
PSID), a life sciences company focused on detection and
diagnostics, today announced that its ExcitePCR Corporation subsidiary has published a new
white paper: PCR Unchained: The Coming
Revolution in Field-Based Pathogen Detection. The white paper can
be found on PositiveID's and ExcitePCR's websites.
The Company projects that systems like ExcitePCR's FireflyDX family of products, currently under
development, which are designed to provide accurate, rapid pathogen
detection at the point-of-care/point-of-need (POC/PON) in less than
30 minutes with minimally trained personnel and at a lower cost
than existing systems, could transform POC/PON diagnostics,
estimated to be a $28 billion market within the next five
years.
"As we've considered the breadth of existing PCR-based pathogen
testing and detection systems, it is a troubling reality that few
systems have been deployed in the field at the point-of-care or
point-of-need," said Dr. Kimothy Smith, DVM, Chief Science Officer
of ExcitePCR, white paper co-author, and former Senior Advisor for
International Biodefense for the Department of Homeland Security,
Office of Health Affairs. "We believe that our FireflyDX products
will have the ability to overcome the factors that have heretofore
limited the widespread POC/PON adoption of PCR-based systems,
resulting in significant changes to the industry and a major
opportunity."
The FireflyDX products, which include the FireflyDX-Portable and
FireflyDX-Handheld, are designed for use in several,
multi-billion-dollar industries, markets where molecular
diagnostics are critical to ensure rapid safety and treatment
protocols. Existing solutions for accurately identifying potential
pathogens and bio-threats, especially at the POC/PON, can sometimes
take as long as several hours to several days to provide results,
dramatically delaying what is often life-saving treatment, while
also increasing costs, both personal and financial. In addition,
most state-of-the-art PCR solutions in use today for pathogen
detection typically require a professionally trained operator
working in a pristine laboratory setting and/or are heavy, bulky
and require a personal computer to function properly.
ExcitePCR's FireflyDX-Portable is a rechargeable, bookbag-sized,
realtime pathogen detection system designed to enable first
responders, medical professionals and food safety officials to
accurately obtain on-site results anywhere in the world in less
than 30 minutes, including sample preparation time. ExcitePCR
expects the FireflyDX-Portable will be commercially available in
summer 2018. The FireflyDX-Handheld, a miniaturized version of the
FireflyDX-Portable, is designed to fit in the palm of the hand and
provide lab-quality sample to detection in less than 30 minutes at
the POC/PON.
According to a report from bccResearch, the global POC
diagnostics market was valued at nearly $18.0 billion in 2015, and
is expected to grow from $19.3 billion in 2016 to $28.3 billion in
2021 at a compound annual growth rate (CAGR) of 8.0% for
2016-2021.
About ExcitePCR
Headquartered in Pleasanton, California, ExcitePCR Corporation
is developing portable pathogen detection systems based upon
superior sample preparation and realtime PCR (Polymerase Chain
Reaction) methodologies. Its FireflyDX technologies will deliver
rapid automated Point-of-Care/Point-of-Care (POC/PON) sample
preparation and highly accurate biohazard identification in a
fraction of the time currently possible using existing PCR-based
solutions.
About PositiveID Corporation
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 mobile technology vehicle market, with a focus on the
laboratory market and homeland security. 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 future expectations, including the
likelihood that the Company projects that a product like
ExcitePCR's FireflyDX could transform the $28 billion global
point-of-care diagnostics market; the likelihood that the FireflyDX
products will have the ability to overcome the factors that have
heretofore limited the widespread POC/PON adoption of PCR-based
systems, resulting in significant changes to the industry and a
major opportunity; the likelihood that ExcitePCR expects the
FireflyDX-Portable will be commercially available in summer 2018;
the likelihood that the global POC diagnostics is expected to grow
from $19.3 billion in 2016 to $28.3 billion in 2021 at a compound
annual growth rate (CAGR) of 8.0% for 2016-2021; 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 complete the development and testing of
FireflyDX; the Company's ability to raise capital; the Company's
ability to commercialize FireflyDX; the Company's and ExcitePCR's
ability to close the APA; 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 March 31, 2017, and 10-Qs
filed on August 14, 2017, May 15, 2017, and November 18, 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.
Contact:
PositiveID Corporation
Allison Tomek
(561) 805-8044
atomek@psidcorp.com