PositiveID’s ExcitePCR Proposes Use of its FireflyDX to Address Food Safety Testing Needs Revealed in Blue Ribbon Study Panel on Defense of Animal Agriculture in Interview with SmallCapVoice.com
AUSTIN, Texas, Oct. 26, 2017 (GLOBE NEWSWIRE) — SmallCapVoice.com, Inc. and PositiveID Corporation (“PositiveID” or “Company”) (OTC:PSID), a life sciences company focused on detection and diagnostics, today announced a new audio interview with Kimothy Smith, DVM, Ph.D., Chief Science Officer of PositiveID’s ExcitePCR subsidiary. In the interview, Smith discusses the recently released “Blue Ribbon Study Panel on Biodefense: Defense of Animal Agriculture,” and describes how ExcitePCR’s FireflyDX™ products could help address the needs of the $19 billion global food safety testing market. The interview can be heard at: http://smallcapvoice.com/blog/10-25-17-smallcapvoice-interview-with-positiveid-corporation-psid.
As highlighted in a recently published “Blue Ribbon Study Panel on Biodefense: Defense of Animal Agriculture,” “The increasing rate of emerging and reemerging zoonotic disease, along with threats and attempts by those with nefarious intent to attack food and agriculture, point to the need to exert more effort to eliminate vulnerabilities and reduce consequences associated with America’s agricultural sector.” Smith explains that FireflyDX will have applications to food safety and agricultural defense, among others, and could be used pen-side by veterinarians and animal health technicians diagnosing routine infectious diseases or during a severe outbreak of disease whether naturally occurring or as a result of agro-terrorism.
The FireflyDX products, currently under development, include the FireflyDX-Portable™ and FireflyDX-Handheld™, and are designed for use in markets where molecular diagnostics are critical to ensure rapid safety and treatment protocols. FireflyDX has already proven its ability in the lab to detect various pathogens that are a threat to food safety including common food contaminants such as E. coli O157, animal diseases caused from Anthrax, Plague, and Brucellosis, and a genetically modified organism (GMO) biomarker, which is critical to the corn and soybean export markets.
Existing solutions for accurately identifying potential pathogens and bio-threats, especially at the point-of-care or 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 require a personal computer to function properly. The FireflyDX products are designed to eliminate many of the challenges faced by existing, lab-based PCR systems.
According to a report from Global Industry Analysts, Inc., the global market for Food Safety Testing is projected to reach US$19.7 billion by 2018, driven by the continuous rise in the product recalls due to contamination by bacteria and other micro-organisms, rising awareness about the harmful effects of consuming contaminated food, and implementation of stringent regulatory specifications.
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://smallcapvoice.com/blog/the-small-cap-daily-small-cap-newsletter/.
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 plans to use FireflyDX to address food safety testing needs; the likelihood that the Company will utilize ExcitePCR’s FireflyDX products to improve pathogen and GMO testing for the $19 billion global food safety testing market; the likelihood that the FireflyDX products could help address the needs of the $19 billion global food safety testing market; the likelihood that FireflyDX will have applications to food safety and agricultural defense, among others, and could be used pen-side by veterinarians and animal health technicians diagnosing routine infectious diseases or during a severe outbreak of disease whether naturally occurring or as a result of agro-terrorism; the likelihood that the global market for food safety testing is projected to reach US$19.7 billion by 2018, driven by the continuous rise in the product recalls due to contamination by bacteria and other micro-organisms, rising awareness about the harmful effects of consuming contaminated food, and implementation of stringent regulatory specifications; 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 the FireflyDX products; the Company’s ability to raise capital; the Company’s ability to commercialize the FireflyDX products; 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 for PositiveID Corporation
Contact for SmallCapVoice.com:
Stuart T. Smith