Tools and technology for a better life.
Delray Beach, FL (PRWEB) December 14, 2011
PositiveID Corporation (OTCBB: PSID), a developer of medical technologies for diabetes management and clinical diagnostics, looks back at the major accomplishments achieved in 2011 with major successes including receiving FDA clearance for iglucose™ and successfully completing Federal Communications Commission (“FCC”) requirements to be sold in the U.S. as shown in NewsDay with other significant news about PositiveID. In addition PositiveID has also seen these goals obtained:
- Completed prototype of Easy Check(TM), a non-invasive, blood free, painless, breath glucose detection device, and announced results from preliminary laboratory testing that are within industry standards
- Completed Phase II development of GlucoChip(TM), a continuous glucose-sensing microchip, and proved a stable and reproducible, closed-cycle continuous glucose sensor that functions in human blood
- Acquired MicroFluidic Systems, a leader in biothreat detection technologies and molecular diagnostic systems
- Positioned MicroFluidic Systems for key government programs, including the Department of Homeland Security's ("DHS") $3 billion BioWatch program
As 2012 rapidly approaches PositiveID is excited to look at the future for bringing more fantastic developments along with revenues from the initial roll-out of iglucose through healthcare insurers and home-healthcare providers in first half of 2012; expected to be followed by larger orders of iglucose later in the year. Additionally PositiveID is looking forward to:
- FDA submission of an integrated iglucose glucometer, a blood glucose meter with "iglucose inside" in the first half of 2012
- First clinical study of Easy Check to commence in first quarter 2012
- Results expected from bio-compatibility study with the Diabetes Research Institute at the University of Miami on the semi-permeable membrane to be used with GlucoChip
- Expected release of a request for proposal (RFP) by DHS for the $3 billion BioWatch program in the first quarter of 2012
- Additional contract award opportunities for proposals submitted by MicroFluidic Systems
As PositiveID continues to advance the next generation of iglucose technology and looks to partner with glucometer manufacturers on the development of the iglucose glucometer, PositiveID is positioning itself to partake in the sale of glucometers and test strips, the global market for which is expected to reach $18 billion by 2015 according to an October 2010 Global Industry Analysts report.
With regard to PositiveID's subsidiary MicroFluidic Systems, the BioWatch program is the nation's first early warning network of sensors to detect biological attacks. Due to the rapid decision cycle and the need for a deployment of medical countermeasures, the ability to quickly identify a biological agent will potentially save lives. Generation 3 of BioWatch is a planned $3 billion procurement and represents the first advancement in BioWatch technologies beyond manual collection and analysis by building a "lab in the box" detection system. At present, PositiveID believes there are only two technologies, one of which it owns in its M-BAND system, that can meet the requirements of Generation 3 BioWatch.
PositiveID Corporation (OTCBB: PSID) develops unique medical devices and molecular diagnostic systems like the Ricin Detection systems noted in the Digital Journal release. PositiveID focuses primarily on diabetes management, rapid medical testing and airborne bio-threat detection. Its wholly-owned subsidiary, MicroFluidic Systems or MFS, is focused on the development of microfluidic systems for the automated preparation of and performance of biological assays. PositiveID was recently recommended in a news release by Vista Partners.
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