This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

PositiveID Reports Issuance Of Draft RFP From Dept Of Homeland Security For BioWatch Generation 3

Stocks in this article: PSID

DELRAY BEACH, Fla., Feb. 6, 2013 (GLOBE NEWSWIRE) -- PositiveID Corporation ("PositiveID" or "Company") (OTCBB:PSID), a developer of biological detection and diagnostics solutions, today announced that the U.S. Department of Homeland Security ("DHS") released a draft request for proposal ("RFP") for Stage 1 of BioWatch Generation 3, an autonomous biodetection system designed to protect the nation against biological threats. The final RFP for Stage 1 is expected to be released in the government's third quarter of fiscal 2013, which ends June 30th. The Stage 1 contract is expected to have a performance period of 18 months. The full roll-out of BioWatch Generation 3 is estimated at $3.1 billion over the next five years.

William J. Caragol, Chairman and CEO of PositiveID, stated, "We believe that PositiveID is well positioned for BioWatch Generation 3, as our M-BAND detection technology ( Microfluidics-based BioAgent Autonomous Networked Detector) was the only system of its kind successfully demonstrated in the field as part of the DHS Science & Technology Directorate ("S&T") BAND (BioAgent Autonomous Networked Detector) Program. In October 2012, we issued a corporate update to our stockholders about the BioWatch program, stating that we were in discussions with strategic partners to manufacture and sell M-BAND, and reiterating our belief that the BioWatch program would soon begin to roll out. The release of the draft RFP for Stage 1 of BioWatch Generation 3 validates this belief and re-confirms the U.S. Government's focus on protecting the nation from biological threats. Moreover, in the fourth quarter of 2012, we announced that we entered into two agreements with large strategic partners that we believe position us effectively to deliver critical detection systems for our homeland defense."

For more information on these announcements, please click on the following links:

http://investors.positiveidcorp.com/releasedetail.cfm?ReleaseID=728046

http://investors.positiveidcorp.com/releasedetail.cfm?ReleaseID=718902

About M-BAND and Dragonfly

PositiveID's M-BAND technology, developed under contract with DHS S&T, is a bio-aerosol monitor with fully integrated systems for sample collection, processing and detection modules that continuously analyze air samples for the detection of bacteria, viruses, and toxins. Results are reported via a secure wireless network in real time to give an accurate and up to date status for fielded instruments.  PositiveID's Dragonfly system is designed to deliver molecular diagnostic results from a sample in less than 30 minutes, which would enable accurate diagnostics leading to potential treatment scenarios at the point of care that are not possible with existing systems. Dragonfly is being developed further for a broad range of biological detection situations including radiation-induced cell damage within the human body, strains of influenza and other common pathogens and diseases such as E. coli, methicillin-resistant staphylococcus aureus ("MRSA") and human papilloma virus ("HPV").

About PositiveID Corporation

PositiveID Corporation is an emerging growth company and developer of biological detection and diagnostics systems for America's homeland defense industry as well as rapid medical 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. For more information on PositiveID, please visit http://www.PositiveIDCorp.com .

The PositiveID Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7717

Statements about PositiveID's future expectations, including, without limitation, the likelihood that the final RFP for Stage 1 of BioWatch Generation 3 is expected to be released in the government's third quarter of fiscal 2013, which ends June 30 th; the likelihood that the Stage 1 contract is expected to have a performance period of 18 months; the likelihood that the full roll-out of BioWatch Generation 3 is estimated at $3.1 billion; the likelihood that PositiveID is well positioned for BioWatch Generation 3 as its M-BAND detection technology was the only system of its kind successfully demonstrated in the field as part of the DHS S&T BAND Program; the likelihood that the Company's two agreements with large strategic partners position the Company effectively to deliver critical detection systems for our homeland defense; and all statements in this press release 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, PositiveID's ability to successfully pursue the BioWatch Generation 3 opportunity; 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 28, 2012, as amended on May 4, 2012, and 10-Qs filed on November 16, 2012, August 20, 2012, as amended on September 12, 2012, and May 14, 2012, 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: PositiveID Corporation
         Allison Tomek
         561-805-8000
         atomek@positiveidcorp.com

PositiveID Corporation Logo

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,828.24 +0.49 0.00%
S&P 500 2,067.56 -5.27 -0.25%
NASDAQ 4,791.63 +4.3130 0.09%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs