PositiveID

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PositiveID
Type Public
Traded as OTCQBPSID
Industry Healthcare and information management
Founded 2009
Founders Applied Digital Solutions
Headquarters Delray Beach, FL, USA
Revenue Decrease US$ 43 thousand (2008)[1]
Operating income Decrease US$ -13.9 million (2008)[1]
Net income Decrease US$ -13.1 million (2008)[1]
Total assets Decrease US$ 3.5 million (2008)[1]
Website PositiveID Corp.

PositiveID develops biological detection 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 threats at high-value locations, as well as analyze samples in medical environments.

PositiveID’s microfluidic technology alleviates all existing problems by replacing robotics with integrated microfluidics, reducing cost and increasing reliability. Its microfluidic technology also automates and increases the effectiveness of key sample processing steps used today on the laboratory bench-top, into a closed, automated system. The embedded devices perform cell lysis (including difficult spores) in less than one minute at low power, nucleic acid purification along with inhibitor removal and preconcentration of the nucleic acid up to factors of 1000x within minutes. These processes all occur autonomously within a fully contained disposable microfluidic cartridge.

Corporate offices are located in Delray Beach, Florida and PositiveID’s laboratories are located in Pleasanton, CA . The company's chairman and CEO is William J. Caragol, and the Company’s President is Lyle L. Probst.[2]

Company history[edit]

PositiveID, formerly known as VeriChip Corporation, was formed in 2009 through the merger of VeriChip and Steel Vault Corporation. At the time of the merger in November 2009, the company changed its name to PositiveID Corporation.

In May 2011, PositiveID acquired California-based MicroFluidic Systems (MFS), 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.[3]

Products[edit]

PositiveID, through its wholly owned Microfluidic Systems ("MFS") subsidiary, develops biological detection and diagnostics systems, including its M-BAND and Firefly Dx technologies. MFS began developing complex microfluidic systems to perform sample processing and purification for the Defense Advanced Research Projects Agency (DARPA). It then developed a similar system, including a thermal cycler for polymerase chain reaction (PCR) analysis for the US Army's Edgewood Chemical and Biological Command (ECBC). PositiveID's microfluidic technology replaces robotics and manual processes used in existing systems with integrated microfluidics in a closed, automated system, which reduces cost, increases reliability and enhances the effectiveness of sample processing.

PositiveID is focused primarily on its M-BAND airborne bio-threat detector, which was developed under contract with the U.S. Department of Homeland Security ("DHS") Science & Technology directorate, and its Firefly Dx system, which is designed to deliver molecular diagnostic results from a sample in less than 30 minutes at the point-of-need, using a portable, handheld system.

The Company's M-BAND detection system continuously and autonomously analyzes air samples for the detection of pathogenic bacteria, viruses, and toxins for up to 30 days. Results from individual M-BAND instruments are reported via a secure wireless network in real time to give an accurate and up-to-date status of field conditions. M-BAND performs high specificity detection for up to six organisms on the Centers for Disease Control's category A and B select agents list.

The goal of the Company's Firefly Dx is to enable accurate diagnostics leading to more rapid and effective treatment than what is currently available with existing systems. Firefly is being developed further for a broad range of biological detection situations for applications including military, agricultural and healthcare. The system has already demonstrated the ability to detect and identify other common pathogens and diseases such as various strains of influenza, E. coli, methicillin-resistant staphylococcus aureus ("MRSA") and human papilloma virus ("HPV").[4]

M-BAND (Microfluitics-based Bio-agent Autonomous Networked Detector), which was developed under contract with the U.S. Department of Homeland Security (DHS) Science & Technology directorate, is a bio-aerosol monitor with fully integrated systems with sample collection, processing and detection modules. Each module is fully functional and adaptable. M-BAND runs autonomously for up to 30 days, continuously analyzing air samples for the detection of bacteria, viruses, and toxins with results in as little as two hours. Results from individual instruments are reported via a secure wireless network in real time to give an accurate and up to date status for fielded instruments in aggregate. PositiveID has implemented its own biological assays. M-BAND performs high specificity detection for up to six organisms on the Center For Disease Control’s (CDC) category A and B select agents list. [5]

Firefly Dx is designed to deliver molecular diagnostic results from a sample in less than 30 minutes at the point-of-need, using a portable, handheld system. The goal of the Company’s Firefly Dx is to enable accurate diagnostics leading to more rapid and effective treatment than what is currently available with existing systems. Firefly is being developed further for a broad range of biological detection situations for applications including military, agricultural and healthcare. The system has already demonstrated the ability to detect and identify other common pathogens and diseases such as various strains of influenza, E.coli, methicillin-resistant staphylococcus aureus (“MRSA”) and human papilloma virus (“HPV”).[6]

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