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Press Release

PositiveID’s ExcitePCR Named Major Player in Molecular Diagnostics Industry Report


Posted on: 14 Dec 17

DELRAY BEACH, Fla., Dec. 14, 2017 (GLOBE NEWSWIRE) -- PositiveID Corporation (the “Company”) (OTC:PSID), a life sciences company focused on detection and diagnostics, announced today that its ExcitePCR Corporation subsidiary has been named a major player in a new report titled, “Global POC Molecular Diagnostics Market Size, Status and Forecast 2022,” by market research firm Questale.

“It is an honor for ExcitePCR to be included in Questale’s list of major players in the point-of-care/point-of-need healthcare diagnostics marketplace,” said Lyle Probst, President and CEO of ExcitePCR. “Through our predecessor company, we have been an active participant in identifying and measuring airborne pathogens such as anthrax for over 10 years. With the recent advancements we’ve made to our FireflyDX™ technologies, we look forward to bringing these real-time PCR-based testing and diagnostics systems to market next year.”

ExcitePCR’s FireflyDX-Portable™ is designed for use in several, multi-billion-dollar industries (including healthcare screening), markets where molecular diagnostics are critical to ensure rapid safety and treatment protocols. Unfortunately, today’s existing solutions for accurately identifying potential pathogens and bio-threats, especially in-the-field at the point-of-care/point-of-need, 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 polymerase chain reaction (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 tied to a personal computer to function properly.

By contrast, ExcitePCR’s FireflyDX-Portable is designed to be a standalone, bookbag-sized bio-threat detection system that can be operated by virtually anyone with minimal training yet still produces highly accurate results. In addition, the FireflyDX-Portable is expected to deliver results in under 30 minutes, including sample preparation (which generally takes the most time in pathogen detection).  

According to San-Francisco-based Questale, ExcitePCR is one of the companies named in its recently published research report under the category of infectious diseases testing. For more information about the report, please contact Jesse Woodson at 415-830-6056 or contact@questale.com.

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 ExcitePCR is a major player in the global POC molecular diagnostics market; the likelihood that FireflyDX is designed to bring lab-based testing to the point of need for real-time biological threat detection in less than 30 minutes; the likelihood that ExcitePCR will bring these real-time PCR-based testing and diagnostics systems to market next year; the likelihood that FireflyDX is designed for use in several, multi-billion-dollar industries (including healthcare screening); the likelihood that ExcitePCR’s FireflyDX-Portable is designed to be a standalone, bookbag-sized bio-threat detection system that can be operated by virtually anyone with minimal training yet still produces highly accurate results; the likelihood that the FireflyDX-Portable is expected to deliver results in under 30 minutes, including sample preparation, which generally takes the most time in pathogen detection; 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, testing and commercialization of the FireflyDX-Portable and FireflyDX-Handheld; the Company’s ability to target the professional healthcare market; the Company’s ability to raise capital; 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 November 13, 2017, August 14, 2017, and May 15, 2017, 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: Contact: PositiveID Corporation Allison Tomek (561) 805-8044 atomek@psidcorp.com GlobeNewswire
globenewswire.com

Last updated on: 15/12/2017

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