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 Hot Stock to Watch |
Company: PositiveID Corporation (OTCBB: PSID)
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Last:
Price: 0.024
Change (%): + 0.006 (33.33)
Volume: 6,518,230 |
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PositiveID Corporation Announces Teaming Agreement With SAIC to Pursue Defense Threat Reduction Agency Contracts
Companies to Pursue Weapons of Mass Destruction - Defeat Technology, Arms Control, and Nuclear Technology Electromagnetic Research and Development/Survivability and Infrastructure Programs
DELRAY BEACH, Fla., Nov. 6, 2012 (GLOBE NEWSWIRE) -- PositiveID Corporation ("PositiveID") (OTCBB:PSID), an emerging growth company and developer of airborne bio-threat detection systems for America's homeland defense industry as well as advanced technologies for diabetes management and rapid medical testing, today announced it has signed a Teaming Agreement ("Teaming Agreement") with Science Applications International Corporation ("SAIC") (NYSE:SAI) to pursue the Defense Threat Reduction Agency ("DTRA") Indefinite Delivery/Indefinite Quantity ("IDIQ") Multiple Award Contracts supporting the Weapons of Mass Destruction ("WMD") - Defeat Technology, Arms Control, and Nuclear Technology Electromagnetic Research and Development/ Survivability and Infrastructure programs.
The Teaming Agreement pairs SAIC's system engineering and integration capabilities with PositiveID's bio-threat detection technologies. PositiveID will offer both its Dragonfly™ Rapid MD-x Cartridge-based diagnostic system ("Dragonfly") as well as its M-BAND (Microfluidics-based Bioagent Networked Detector) airborne bio-threat detector as part of the Teaming Agreement.
PositiveID's Dragonfly system is designed to deliver molecular diagnostic results from a sample in less than 30 minutes, which would enable accurate diagnostics leading to potential treatment scenarios at the point of care that are not possible with existing systems. Dragonfly is being developed further for a broad range of biological detection situations including radiation-induced cell damage within the human body, strains of influenza and other common pathogens and diseases such as E. coli, methicillin-resistant staphylococcus aureus ("MRSA") and human papilloma virus ("HPV").
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