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PositiveID Corporation™ develops unique medical devices and biological detection systems focused primarily on diabetes management, rapid medical testing and airborne bio-threat detection. Its wholly-owned subsidiary, MicroFluidic Systems or MFS, is focused on the development of microfluidic systems for the automated preparation of and performance of biological assays. PositiveID Corporation was formed on November 10, 2009 through the merger of VeriChip Corporation and Steel Vault Corporation.
In May 2011, PositiveID acquired California-based MicroFluidic Systems, founded in 2001, which specializes in the development and production of automated instruments for detecting and processing biological samples. MFS’ core technology is used for airborne pathogen detection, rapid clinical diagnostics and sample preparation applications.
MFS’ microfluidic technology alleviates all existing problems by replacing robotics with integrated microfluidics, reducing cost and increasing reliability. Its microfluidic technology also automates and increases the effectiveness of key sample processing steps used today on the laboratory bench-top, into a closed, automated system. The embedded devices perform cell lysis (including difficult spores) in less than one minute at low power, nucleic acid purification along with inhibitor removal and pre-concentration of the nucleic acids up to factors of 1000X within minutes. These processes all occur autonomously within a fully contained disposable microfluidic cartridge.
PositiveID operates in two main divisions: HealthID and MicroFluidic Systems. The HealthID division develops unique medical devices, focused primarily on diabetes management. Its MicroFluidic Systems subsidiary develops airborne bio-threat detection systems and rapid clinical diagnostic systems.
PositiveID’s Main Divisions
PositiveID’s HealthID division develops innovative health solutions for consumers, businesses and animals. From blood glucose monitoring and other diabetes management products to rapid virus detection, PositiveID is charting new ground with its exciting array of new medical technologies.
In February 2010, PositiveID acquired the intellectual property rights and assets of Easy Check Medical Diagnostics, LLC, to expand its portfolio of non-invasive glucose-level testing products and diabetes management tools under development. With the Easy Check acquisition came two development products: the Easy Check breath glucose test , a non-invasive glucose detection system that measures acetone levels in a patient’s exhaled breath; and the iGlucose system, which uses wireless SMS messaging to automatically communicate a diabetic’s glucose readings to the iGlucose online database.
In addition to our intellectual property surrounding the implantable RFID microchip for patient identification, we own patents related to an embedded bio-sensor system. One potential application of this bio-sensor system is an implantable, bio-sensing RFID microchip to measure glucose levels in the body in real time.
PositiveID’s MicroFluidic Systems division, which operates as its MicroFluidic Systems (”MFS”) subsidiary, develops sample preparation and biological detection systems. MFS began developing complex microfluidic systems to perform sample processing and purification for the Defense Advanced Projects Agency (DARPA). It then developed a similar system, including a thermal cycler for PCR analysis for the US Army’s Edgewood Chemical and Biological Command (ECBC).
Recent Investor Highlights
Successfully tested M-BAND, recently featured in Bloomberg Businessweek, to detect five organisms on the CDC’s Select Agents list, a requirement for BioWatch
Added chief technology advisor and biodefense expert, Dr. Kimothy Smith
Collaborated with the University of Nevada to produce irradiated samples for the development of a biodosimetry cartridge for measuring radiation exposure
Awarded U.S. Patent for first-of-its-kind Dragonfly detection system for molecular biological diagnostics. Dragonfly is the Company’s system that uses disposable microfluidic cartridges for biological sample processing and detection
Partnered with the Diabetes Research Institute at the University of Miami and Schneider Children’s Medical Center of Israel to support the development of the Company’s diabetes management products, including Easy Check(TM) and GlucoChip(TM)
Commenced clinical study of PositiveID’s Easy Check, a non-invasive breath glucose detection device, at Schneider Children’s Medical Center of Israel under the leadership of world-renowned endocrinologist Prof. Moshe Phillip
Won gold award at Connected World Value Chain Awards for its iglucose system for diabetes management
Goals for second half of 2012
Enter into strategic partnerships and/or teaming agreements with large government contractors for M-BAND manufacturing and system integration for BioWatch Gen-3
Submit proposal upon release of the final BioWatch Gen 3 RFP, currently scheduled for release in the fourth quarter of calendar 2012, from Department of Homeland Security for the $3.1 billion BioWatch Gen-3 procurement
Commence second stage of Easy Check clinical study at Schneider Children’s Medical Center in Israel
Complete bench-top unit of GlucoChip glucose-sensor and initiate strategic partnerships
Continue development of Dragonfly Rapid MDx Cartridge-based diagnostic system for point-of-care diagnostics
Complete the license and/or sale of the VeriChip and iglucose product lines to position them with the best partners for market exploitation and monetization
Complete strategic financing to capitalize the Company to execute on these opportunities
Recent PSID News:
August 15 - PositiveID’s Chairman and CEO William J. Caragol Discusses $5.7 Billion BioWatch Opportunity with SmallCapVoice.com
SmallCapVoice.com, Inc. announced today that a new audio interview with PositiveID Corporation (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, is now available. The interview can be heard at http://smallcapvoice.com/blog/8-14-12-smallcapvoice-interview-with-positiveid-corporation-otcbb-psid
SmallCapVoice.com is a recognized corporate investor relations firm, with clients nationwide, known for its ability to help emerging growth companies build a following among retail and institutional investors. SmallCapVoice.com utilizes its stock newsletter to feature its daily stock picks, audio interviews, as well as its clients’ financial news releases. SmallCapVoice.com also offers individual investors all the tools they need to make informed decisions about the stocks they are interested in. Tools like stock charts, stock alerts, and Company Information Sheets can assist with investing in stocks that are traded on the OTC BB and Pink Sheets. To learn more about SmallCapVoice.com and their services, please visit http://www.smallcapvoice.com/services.html.
PositiveID Corporation Headquarters
1690 South Congress Avenue
Delray Beach, Florida 33445
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