PositiveID Corporation’s Technology Featured in Journal of American Chemical Society

 

PositiveID received exclusive license for RECEPTORS LLC’s technology to be used in glucose-sensing RFID microchip and rapid virus detection system

 

DELRAY BEACH, FL and CHASKA, MN – December 14, 2009 – PositiveID Corporation ("PositiveID" or the “Company”) (NASDAQ: PSID) and its development partner RECEPTORS LLC (“Receptors”), a technology company whose AFFINITY by DESIGN™ chemistry platform can be applied to the development of selective binding products, announced today that Receptors’ patented CARA™ (combinatorial artificial receptor array) technology was recently published in the Journal of the American Chemical Society, a peer-reviewed scientific journal. Receptors’ CARA platform technology is the foundation of the development of the Company’s glucose-sensing RFID microchip and rapid virus detection system for the H1N1 virus and other pandemic viruses. PositiveID has the exclusive licenses to Receptors' Patent No. 7,504,364 titled "Methods of Making Arrays and Artificial Receptors" and Patent No. 7,469,076 "Sensors Employing Combinatorial Artificial Receptors,” as used in these applications. The paper, entitled “Small Molecule-Based Binding Environments: Combinatorial Construction of Microarrays for Multiplexed Affinity Screening,” documents the construction of Receptors’ CARA platform and the application of the array to differentiation of proteins based on their binding patterns, and can be read here. The Journal of the American Chemical Society (JACS), founded in 1879, is the flagship journal of the American Chemical Society and the preeminent journal in the field. The periodical is devoted to the publication of fundamental research papers in all areas of chemistry, providing research essential to the field.

 

About RECEPTORS LLC
Receptors LLC develops SMART MATERIALS products for laboratory, clinical, industrial hygiene and healthcare use that selectively capture and measure chemical, biochemical and cellular targets from complex biological, environmental or industrial samples. The Company's patented AFFINITY by DESIGN™ platform has broad applicability, ranging from the isolation of disease pathway proteins for drug discovery and production of therapeutic antibodies, to the capture of bacteria and viruses for disinfection and diagnostic purposes. RECEPTORS LLC is a private company based in suburban Minneapolis, Minnesota. For further information please visit http://www.receptorsllc.com.

 

About PositiveID Corporation
PositiveID Corporation provides unique health and security identification tools to protect consumers and businesses. PositiveID operates in two main divisions: HealthID and ID Security. For more information on PositiveID, please visit www.PositiveIDCorp.com.

 

Forward Looking Statements
Statements about PositiveID’s future expectations, including the Company’s ability to develop and commercialize a glucose-sensing RFID microchip and a rapid virus detection system for the H1N1 virus and other pandemic viruses, and all other statements in this press release other than historical facts are “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 the Company’s ability to successfully develop and commercialize the glucose-sensing microchip (the “microchip”) and the rapid virus detection system, the market acceptance of the microchip and the rapid virus detection system, the Company’s and Receptors’ ability to develop a microchip and rapid virus detection system, the validity, scope and enforceability of the Company’s patents and those related to the microchip and rapid virus detection system, the protection afforded by the Company’s patents and those related to the microchip and rapid virus detection system, the Company’s ability to complete the development phases in certain time frames, government regulations relating to the microchip and rapid virus detection system, the Company’s ability to fund the continued development of the microchip and rapid virus detection system, the timing and success of submission, acceptance and approval of required regulatory filings; as well as certain 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 February 12, 2009, 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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About PositiveID
Contact:
Allison Tomek
PositiveID Corporation
561-805-8000
atomek@positiveidcorp.com