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| News Alert: PSID Partner Awarded Massive Contract |
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 Hot Stock to Watch |
Company: PositiveID Corporation (OTCQB: PSID)
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Last:
Price: 0.085
Change (%): + 0.011 (14.86)
Volume: 258,422 |
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PositiveID Corporation Teaming Partner Leidos Awarded Defense Threat Reduction Agency Contract Valued at Up to 4 Billion Dollars
DELRAY BEACH, Fla., April 24, 2014 (GLOBE NEWSWIRE) - PositiveID Corporation (“PositiveID”) (PSID), a developer of biological detection and diagnostics solutions, today announced that its teaming partner Leidos (f/k/a/ Science Applications International Corporation) was awarded a prime contract by the U.S. Defense Threat Reduction Agency (“DTRA”) to conduct research and development to combat weapons of mass destruction. The multiple-award indefinite delivery/indefinite quantity (“ID/IQ”) contract has a five-year base period of performance, a five year option, and a total value of approximately 4 billion dollars for all awardees, if all options are exercised. The contract was awarded under the Combating Weapons of Mass Destruction Research and Technology Development ID/IQ contract.
In October 2012, PositiveID entered into a Teaming Agreement with Leidos, which paired Leidos’ system engineering and integration capabilities with PositiveID’s bio-threat detection technologies. PositiveID will offer both its Firefly Dx handheld diagnostic system (“Firefly”) as well as its M-BAND (Microfluidics-based Bioagent Networked Detector) airborne bio-threat detector as part of the Teaming Agreement.
PositiveID’s M-BAND (Microfluidic Bio-agent Autonomous Networked Detector) continuously and autonomously analyzes air samples for the detection of biological airborne threats in the form of bacteria, viruses, and toxins. The technology was developed under contract with the “DHS” Science & Technology directorate, and is designed to detect the release of pathogens into the air as part of a defense against potential terrorist attacks.
PositiveID’s Firefly Dx is a point-of-need, handheld system designed to deliver molecular diagnostic results using real-time TaqMan(R) PCR (polymerase chain reaction) chemistry. Firefly is being developed to meet the growing need in healthcare and molecular diagnostics markets for more rapid and accurate point-of-need diagnostics that will enable hospitals, physicians and other providers to save lives. Firefly can derive results from a sample in less than 20 minutes, at the point of need, compared to two to four hours for a lab device, which would enable accurate diagnostics leading to more rapid and effective treatment than what is currently available with existing systems.
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