PositiveID Corporation (“PositiveID”) (OTCQB:PSID), a life sciences company focused on detection and diagnostics, today announced that it, in conjunction with its partner, ENSCO, Inc., has been awarded a Phase II contract under the SenseNet Program from the U.S. Department of the Interior on behalf of the U.S. Department of Homeland Security Science & Technology Directorate. The goal of the SenseNet Program is to implement faster, less expensive bio-threat detection systems to increase the effectiveness of current systems and provide an added level of security.
Under this Phase II award, PositiveID will provide its Firefly Dx system, designed to be a fully automated, lab quality, real-time device able to detect bio-threats at the point of need in minutes instead of hours. A design advantage of Firefly Dx is that it does not require additional equipment or separate steps for sample preparation and purification, unlike current lab-based equipment, thus reducing time to results as well as cost per test. ENSCO will be responsible for the systems integration and decision support under the Phase II award.
“We are very proud to be awarded another prestigious contract with ENSCO for the SenseNet Program,” stated William J. Caragol, Chairman and CEO of PositiveID. “We believe this follow-on contract is significant as it demonstrates the robust capabilities of Firefly Dx combined with ENSCO’s scientific and engineering capabilities, to meet the needs of the SenseNet program and improve national warning and decision systems.”
ENSCO, Inc., and its wholly owned subsidiaries represent a $100 million international technology enterprise, headquartered in the Washington, D.C., area. For almost 50 years, the ENSCO group of companies has been providing engineering, science and advanced technology solutions that guarantee mission success, safety and security to governments and private industries worldwide. ENSCO operates in the defense, transportation, aerospace and intelligence sectors. Field offices and subsidiaries, representatives and partnerships are located throughout the United States and around the world. www.ensco.com
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 specialty vehicle market, with a focus on mobile labs. For more information on PositiveID, please visit https://www.psidcorp.com, or connect with PositiveID on Twitter, Facebook or LinkedIn.
Statements about PositiveID’s future expectations, including the likelihood that under this Phase II award, PositiveID will provide its Firefly Dx system; the likelihood that ENSCO will be responsible for the systems integration and decision support under the Phase II award; the likelihood that the contract demonstrates the capabilities of Firefly Dx combined with ENSCO’s scientific and engineering capabilities, to meet the needs of the SenseNet program and improve national warning and decision systems; 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 Firefly Dx, 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 April 12, 2016, and 10-Qs filed on August 12, 2016, May 16, 2016, and November 12, 2015, 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.
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