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PositiveID Corporation Files Patent for its Implantable Glucose Sensor to Continuously Monitor Glucose Levels Over an Extended Period of Time
Wednesday, May 12, 2010
Provisional Patent Highlights Company’s R&D Progress and Broadens Intellectual Property Portfolio
DelRay Beach, FL -- PositiveID Corporation (“PositiveID” or the “Company”) (Nasdaq: PSID) announced today that it has filed a provisional patent application with the U.S. Patent and Trademark Office covering the interface between a radio frequency (“RF”) powered resonant electromechanical drive and the fluids in the interstitial space of a patient for continuous detection of glucose levels in a patient. The interface employs a resonant electromechanical drive for mass sensing and RF communication of glucose levels.
This new interface represents the next evolution in the development of an implantable glucose sensor that relies on passive RF technology to continuously monitor in vivo glucose levels over an extended period of time. This new technology will effectively implement the glucose level RF sensing technology that is described in PositiveID’s previously issued Patent No. 7,125,382 entitled “Embedded Bio-Sensor System.”
In conjunction with partner RECEPTORS LLC (“Receptors”), the Company is now in Phase II development of its implantable glucose-sensing microchip. The goal of Phase II, which is expected to be completed in mid-2010, is to optimize the sensing system for its glucose response in the presence of blood and interstitial fluid matrix components and demonstrate the integration of the components into a stable and reproducible glucose sensor.
The Company’s implantable glucose-sensing microchip will consist of a RF-powered molecular sensor that uses a combination of the analyte binding surface chemistry developed by Receptors and exclusively licensed to PositiveID for this application, with Micro Electro Mechanical System (MEMS) technology and RF inductive powered sensing. The provisional patent covers the use of RF technology to help sense and communicate changes in mass (i.e., glucose levels in the blood) through an electromechanical drive-based wireless molecular sensor to an external reader.
Scott R. Silverman, Chairman and CEO of PositiveID, said, “The significant progress we continue to make in the development of our glucose-sensing microchip is further evidenced by today’s announcement of this transformational technology patent filing. This filing represents the foundation technology of our glucose-sensing microchip, which we believe will enable us to develop a product that could potentially change the way diabetics get their blood sugar readings, eliminating their need to prick their fingers multiple times per day.”
About PositiveID Corporation
PositiveID Corporation develops and markets healthcare and information management products through its RFID-based diagnostic devices and identification technologies, and its proprietary disease management tools. PositiveID operates in two main divisions: HealthID and ID Security. For more information on PositiveID, please visit www.PositiveIDCorp.com.
Statements about PositiveID’s future expectations, including the likelihood that the U.S. Patent and Trademark Office will grant a patent based on the provisional patent filing, the Company’s ability to successfully develop, fund and commercialize an implantable glucose sensing microchip, the ability of the Company’s implantable glucose-sensing microchip, once developed, to change the way diabetics get their blood sugar readings, eliminating their need to prick their fingers multiple times per day, 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, fund and commercialize an implantable glucose sensing microchip, 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 March 19, 2010, and the Company’s 10-Q filed on May 6, 2010, 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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