PRZOOM - /newswire/ -
Winston-Salem, NC, United States, 2012/09/25 - SmallCapReview.com a leading site for news and information on small caps, penny stocks and microcaps is adding PositiveID Corporation (OTCBB: PSID) to its list of stocks "On the Radar".
PositiveID Corporation (PSID) develops unique medical devices and biological detection systems focusing primarily on diabetes management, rapid medical testing, and airborne bio-threat detection. The company engages in the development of the GlucoChip, a glucose-sensing microchip; iglucose, a self-contained unit that automatically queries a diabetic users data-capable glucometer for blood glucose data and sends that data to the iglucose online database; and Easy Check, a non-invasive breath glucose detection system.
It is also involved in the production of automated instruments for various applications in the detection and processing of biological samples, including rapid medical testing and airborne pathogen detection for homeland security.
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.
• Success - Successfully tested M-BAND, which was recently featured in Businessweek (a must read), to detect five organisms on the CDC's Select Agents list, a requirement for BioWatch.
• Intellectual Property - 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.
• Top Notch Partners - 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™ and GlucoChip™.
• Unique Products - PositiveID's FDA-cleared 'iglucose' uses mobile technology to revolutionize the way individuals with diabetes manage their condition. By wirelessly communicating data from glucometers to the iglucose diabetes management portal, glucose readings can be shared with family members and healthcare professionals. This makes it possible to improve care in a cost-effective manner. iglucose simplifies diabetes management by eliminating the burden of keeping logbooks and empowers individuals with diabetes to be more engaged in the self-management of their condition. iglucose is compatible with leading FDA-cleared glucometers and does not require the use of a cell phone or a wireless plan.
• Opportunity - Entered into an agreement with Simplex Healthcare Inc., the parent company of the third largest mail order supplier of diabetic testing supplies, Diabetes Care Club, LLC, to provide PositiveID's iglucose® System for diabetes management to people with diabetes. Simplex will purchase iglucose units and will begin trialing the iglucose mobile health diabetes management solution among its members.
• Management - Added Dr. Kimothy Smith as Chief Technology Advisor to the Company and its Microfluidic Systems ("MFS") subsidiary. Dr. Smith has served as a Senior Advisor for International Biodefense for DHS' Office of Health Affairs and was detailed to the U.S. State Department Office of International Health and Biodefense.
• Research and Development - PSID is collaborating with the University of Nevada to complete development of the Company's biodosimetry cartridge for measuring radiation levels. MFS' biodosimetry cartridge is designed to enable clinicians and security personnel to measure the absorbed radiation doses quickly so that appropriate medical treatments can be implemented sooner.
• Recognition - Won the Gold award for its iglucose® mobile health solution for diabetes management at Connected World magazine's Value Chain Awards in the Home Health category.
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