PSID

PositiveID Corp.

 
Common Stock SEC Reporting - Current
OTCQB
 

OTC Disclosure & News Service

 

PositiveID’s ExcitePCR Subsidiary to Hold Press Conference Announcing Lawrence Livermore National Report on its FireflyDX

Sep 12, 2017

OTC Disclosure & News Service

-

DELRAY BEACH, Fla., Sept. 12, 2017 (GLOBE NEWSWIRE) -- PositiveID Corporation's (OTCQB:PSID) ExcitePCR subsidiary today announced that it will hold a Press Conference at 10 a.m. on Monday, September 18th  at the National Press Club in Washington, D.C., to disclose details from a new report produced by Lawrence Livermore National Laboratory for ExcitePCR on the FireflyDX pathogen detection system.

During the Press Conference, ExcitePCR will summarize its multiyear history in designing, developing and producing automated biohazard detection for U.S. governmental agencies and military organizations, as well as showcase its forthcoming FireflyDX-Portable™ pathogen detection system and select details from the report produced by LLNL for the company.

WHAT:           

An ExcitePCR Press Conference on Monday, September 18, 2017, from 10-11 a.m. (ET) will disclose details from a Lawrence Livermore National Laboratory Report prepared for the company that states that ExcitePCR’s FireflyDX automated pathogen detection technologies have no known direct competition. {NOTE: ExcitePCR will release its own Executive Summary of the LLNL Report during the Press Conference.}

During the press conference, ExcitePCR will also provide additional details about its lightweight, bookbag-sized FireflyDX-Portable, a realtime pathogen detection system designed to enable first responders, medical professionals and food safety workers to accurately obtain on-site results anywhere in the world in less than 30 minutes, including sample preparation time.

WHERE:         

The ExcitePCR Press Conference will be held at the National Press Club in Washington, D.C. at 529 14th Street NW, Washington, D.C.

WHEN:           

The ExcitePCR Press Conference will be held from 10-11 a.m. (ET) on Monday, September 18, 2017. 

WHO: 

Representing ExcitePCR at the press conference will be

  • Lyle Probst, President, CEO, and Founder;
  • Kimothy Smith, Ph.D., Chief Science Officer; and
  • David Politis, Chief Marketing & Sales Officer.

JOURNALISTS & ANALYSTS WHO SHOULD ATTEND:

Journalists and Analysts interested in and/or who cover/report on infectious diseases, pandemics, epidemics, biohazards, pathogenic threats, First Responders, Homeland Security, the military, and/or Polymerase Chain Reaction (PCR), as well as those who follow or have reported on such firms as Theranos, bioMerieux, Thermo Fisher Scientific, are those most likely to appreciate the information that will be shared during ExcitePCR’s September 18th Press Conference.

WHY: 

Including its predecessor companies, ExcitePCR has received over $35 million since 2004 from the U.S. Department of Homeland Security (DHS) and other U.S. governmental entities to design, develop and produce rapid pathogen detection solutions. This foundational work has allowed ExcitePCR to produce significant breakthroughs in the world of PCR-based solutions for rapidly and accurately identifying the presence of countless biological threats anywhere in the world, including the typically time-consuming act of sample preparation, all within 30 minutes or less. ExcitePCR has now begun work to commercialize its FireflyDX technologies that Lawrence Livermore National Laboratory says have no known competition.

ADDITIONAL INFORMATION:       

Following the Press Conference, ExcitePCR’s CEO, Lyle Probst, will participate in a prestigious, three-person Panel Discussion about current and future advancements in pathogen detection systems hosted by the National Academies of Science, Engineering, and Medicine (NAS). This panel discussion is part of a two-day, BioWatch Workshop on “Strategies for Effective Biological Detection Systems” hosted by the NAS. Interested parties can learn more about this Panel Discussion here.

About PositiveID Corporation
PositiveID Corporation is a holding company focused on life sciences, diagnostics, mobile laboratories, and medical devices. PositiveID’s ExcitePCR subsidiary is developing the FireflyDX family of pathogen detection systems, portable devices offering rapid sample-to-result detection in less than 30 minutes using real-time polymerase chain reaction chemistry. PositiveID’s E-N-G Mobile Systems™ subsidiary is a leader in the mobile technology vehicle market, with a focus on the laboratory market and homeland security. PositiveID’s Thermomedics™ subsidiary markets the FDA-cleared Caregiver® non-contact thermometer for clinical use. 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.

Disclaimer:  This document may contain research results that are experimental in nature, and neither the United States Government, any agency thereof, Lawrence Livermore National Security, LLC, nor any of its employees makes any warranty, express or implied, or assumes any legal liability or responsibility for the accuracy, completeness, or usefulness of any information, apparatus, product, or process disclosed, or represents that its use would not infringe privately owned rights. Reference to any specific commercial product, process, or service by trade name, trademark, manufacturer, or otherwise does not constitute or imply an endorsement or recommendation by the U.S. Government or Lawrence Livermore National Security, LLC. The views and opinions of authors expressed herein do not necessarily reflect those of the U.S. Government or Lawrence Livermore National Security, LLC and will not be used for advertising or product endorsement purposes.

Statements about PositiveID's future expectations, including the likelihood that ExcitePCR has begun work to commercialize its FireflyDX technologies that Lawrence Livermore National Laboratory says have no known competition; the likelihood that FireflyDX-Portable is a 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; the likelihood that 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; 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, ExcitePCR’s ability to complete a financing of at least $3 million; PositiveID’s and ExcitePCR’s ability to close the asset purchase agreement among PositiveID, PositiveID Diagnostics, and ExcitePCR; PositiveID’s ability to attract new customers and partners; PositiveID’s ability to raise capital; ExcitePCR’s ability to complete the development and commercialization of the FireflyDX-Portable and FireflyDX-Handheld; 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.

Contacts:
PositiveID Corporation
Allison Tomek
(561) 805-8044
atomek@psidcorp.com

Primary Logo

Copyright © 2017 GlobeNewswire. All Rights Reserved


The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.