PositiveID Corporation Teaming Partner Leidos Awarded Defense Threat Reduction Agency Contract Valued at Up to $4 Billion
24 April 2014 - 10:30PM
PositiveID Corporation ("PositiveID") (OTCQB: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 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® 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.
William J. Caragol, Chairman and CEO of PositiveID, stated, "We
are very pleased that our teaming partner, Leidos, has been awarded
this significant ID/IQ contract, and we look forward to
demonstrating the ability of our Firefly and M-BAND technologies to
combat weapons of mass destruction."
DTRA is the U.S. Department of Defense's Combat Support Agency
for countering weapons of mass destruction. The agency's experts
address the entire spectrum of chemical, biological, radiological,
nuclear and high yield explosive threats. Under the contract,
Leidos will perform research and technology development to provide
scientific and technological solutions to meet the DoD's
non-proliferation, counterproliferation, and consequence management
objectives. Leidos is one of seven contractors eligible to compete
for task orders under the contract.
PositiveID and Leidos are parties to a contractor team
arrangement pursuant to the Federal Acquisition Regulations and are
not joint venturers, partners in a legal partnership or otherwise
affiliated.
About PositiveID Corporation
PositiveID Corporation is an emerging growth company and
developer of biological detection systems for America's homeland
defense industry as well as rapid biological testing. PositiveID is
focused on the development of microfluidic systems for the
automated preparation of and performance of biological assays in
order to detect biological threats and analyze biological samples.
For more information on PositiveID, please visit
http://www.PositiveIDCorp.com.
Statements about PositiveID's future expectations including,
without limitation, the likelihood that 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; the likelihood that Firefly would enable accurate
diagnostics leading to more rapid and effective treatment than what
is currently available with existing 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. 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 11,
2014, and 10-Qs filed on May 20, 2013, August 14, 2013, as amended
August 19, 2013, and November 19, 2013, 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.
CONTACT: PositiveID Corporation
Allison Tomek
561-805-8000
atomek@positiveidcorp.com