Thursday, June 6, 2013

Biodefense Stock Q&A; PositiveID (OTCBB: PSID) Chairman and CEO Discusses New Firefly Dx Detection System

Point Roberts, WA - June 6, 2013 ( Newswire), a leader in research for independent investors presents an exclusive Q&A interview with Mr. William J. Caragol, Chairman and CEO of PositiveID Corporation (OTCBB: PSID) discussing the recent launch of the development of the Firefly Dx detection system. Firefly is a portable, hand-held, point-of-need molecular diagnostic system, designed to provide test results from sample input through reporting of results in less than 15 to 30 minutes depending on the type of test performed.

Firefly is based on technology from your M-BAND (Microfluidics-based Bioagent Networked Detector) airborne bio-threat detector; can you explain the evolution of this technology and what inspired it?
A: Mr. William J. Caragol, Chairman and Chief Executive Officer
Throughout meetings with past and potential new customers representing a variety of different industries, we listened to their needs and the circumstances they often face including military field deployments, evolving conditions in remote areas ,agricultural testing, etc and it became clear that there is a real and pressing need for portable, handheld, rapid biological testing solutions.
We have been able to evolve and miniaturize the patented technology advances we’ve achieved in the development of our M-BAND, which is basically a “lab-in-a-box,” and Dragonfly cartridge based systems to create a handheld, battery-powered, rapid biological testing system that can communicate test results from sample purification to final results in less than 30 minutes to a SMART phone or personal computer. Furthermore, the system is designed to be easy to use and does not require a high level of technical expertise to operate.
According to your April 29, 2013 press release, Firefly is expected to quickly process human and agricultural samples to provide accurate confirmation of biological threats via a smart-phone application. What is a realistic time frame to see this app available to military in the field?
A: Mr. William J. Caragol, Chairman and Chief Executive Officer
The business strategy that we have employed for our biological detection technologies in the past and intend to continue moving forward is to innovate and develop novel technologies for markets in detection and diagnostics, and to partner with large firms that have a foothold in the market with scalable manufacturing capabilities. We believe that with the appropriate funding partner, we could complete the development of handheld prototypes and cartridges and have the devices ready for field testing in approximately 12 months.
What biological agents can the Firefly Dx system detect?
A: Mr. William J. Caragol, Chairman and Chief Executive Officer
The assay format of the Firefly Dx is polymerase chain reaction (PCR) using Real-time TaqMan® probe-based chemistry and is currently adapted to detect both DNA and RNA targets. PositiveID is currently developing diagnostic panels for the Firefly Dx against measles, respiratory diseases, and Arboviral diseases. Because the Firefly Dx instrument is a universal cartridge-based system, however, it will be able to accommodate new assays or panels very rapidly. Some examples of organisms for which we have previously developed immunoassays include anthrax, small pox, various forms of influenza, and MRSA, among many others.
Can you give us an update on your M-BAND system and the status of BioWatch Generation 3?
A: Mr. William J. Caragol, Chairman and Chief Executive Officer
As you know, on January 25, 2013, the U.S. Department of Homeland Security released a draft request for proposal (“RFP”) for Stage 1 of BioWatch Generation 3. At that time it was announced that the final RFP for Stage 1 would be released in the government’s third quarter of fiscal 2013, which ends June 30th. If that timeline holds, the RFP is expected to be awarded in late 2013 and have a performance period of 18 months. We look forward to the release of the final RFP and will keep our investors informed of any updates.
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 at high-value locations, as well as analyze samples in a medical environment.
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