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Volume 583.5K
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OTC US
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Company Description

Contact Info

1690 South Congress Avenue

Suite 201

Delray Beach, FL 33445

United States

Phone: 561-805-8000

Fax: 561-805-8001

PositiveID Corporation, through its wholly-owned subsidiary MicroFluidic Systems (MFS), develops molecular diagnostic systems for bio-threat detection and rapid medical testing. The company, through MFS, also develops fully automated pathogen detection systems and assays to detect a range of biological threats. The company’s M-BAND (Microfluidic Bio-agent Autonomous Networked Detector) system is an airborne bio-threat detection system developed for the homeland defense industry, to detect biological weapons of mass destruction. MFS specializes in the development and production of automated instruments for detecting and processing biological samples. MFS has a portfolio of intellectual property related to sample preparation and rapid medical testing applications. The company’s M-BAND technology, developed under contract with the U.S. DHS Science & Technology directorate, is a bio-aerosol monitor with fully integrated systems for sample collection, processing and detection modules. M-BAND continuously and autonomously analyzes air samples for the detection of pathogenic bacteria, viruses, and toxins for up to 30 days. iglucose The iglucose system uses machine to machine technology to automatically communicate a diabetic’s glucose readings to the iglucose online database. iglucose is intended to provide real-time data to improve diabetes management and help ensure patient compliance and insurance reimbursement. In November 2011, the company obtained Federal Drug Administration (FDA) clearance. In February 2013, the company entered into an agreement with Smart Glucose Meter Corp (SGMC), Easy Check Medical Diagnostics, LLC (Easy Check), Easy-Check Medical Diagnostic Technologies Ltd., an Israeli company, pursuant to which the company licensed its iglucose technology to SGMC. GlucoChip The GlucoChip, a product that combines a glucose-sensing microtransponder based on its Patent number 7,125,382 entitled ‘Embedded Bio-Sensor System’ with an in-vivo glucose sensor. The company’s patent covers a bio-sensor system that utilizes RFID (radio frequency identification) technology, combining wireless communication with an implantable passively-powered on-chip transponder. The company has partnered with Receptors, a technology company whose AFFINITY by DESIGN chemistry platform can be applied to the development of selective binding products, to develop an in-vivo glucose sensor to detect glucose levels in the human body. The glucose sensor is intended to be coupled with its microchip to read blood glucose levels through an external scanner. In conjunction with Receptors, the company intends to achieve the construction and demonstration of the bench top scale flow system and to continue an evaluation of potential strategic partners to commercialize the product. Breath Glucose Test The breath glucose test, which is under development, is a non-invasive glucose detection system that measures acetone levels in a patient’s exhaled breath. The breath glucose test detection system combines a proprietary chemical mixture of sodium nitroprusside with breath exhalate, which is intended to create a new molecular compound that can be measured with its patent pending technology. In 2012, the company commenced the first clinical trial of the breath glucose test, which is being held at Schneider Children’s Medical Center of Israel. Research and Development The company focuses its activities on four main areas: assay development efforts to design, optimize and produce specific tests that leverage the systems and chemistry developed; target discovery research to identify novel micro RNA targets to be used in the development of future assays; chemistry research to develop proprietary methods to design and synthesize oligonucleotide primers, probes and dyes to optimize the speed, performance and ease-of-use of assays; and engineering activities to extend the capabilities of systems and to develop new systems. Its total research and development expenditure was $0.9 million, as of December 31, 2012. Regulation Environmental Regulation: The company’s distributors who place its products on the market in the European Union are required to comply with EU Directive 2002/96/EC on waste electrical and electronic equipment, known as the WEEE Directive. Laws and Regulations Pertaining to RFID Technologies: The GlucoChip, which uses implantable microchip, relies on low-power, localized use of radio frequency spectrum to operate. As a result, the company must comply with U.S. Federal Communications Commission (FCC), and Industry Canada regulations, as well as the laws and regulations of other jurisdictions governing the design, testing, marketing, operation and sale of RFID devices if and when it sells products. History PositiveID Corporation was founded in 2001. The company was formerly known as VeriChip Corporation and changed its name to PositiveID Corporation in 2009.

 

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