Published: November 16, 2009
PositiveID Forms Animal Health Division Focused on Diagnostic/Clinical Response and Source Food Safety Applications
DELRAY BEACH, Fla. - (BUSINESS WIRE) - PositiveID Corporation, formerly known as VeriChip Corporation
(NASDAQ:PSID), announced today that it has formed a new animal health
division, PositiveID Animal Health, to focus on diagnostic/clinical
response and source food safety products and applications. Randolph K.
Geissler, founder of Destron Fearing and former CEO of Digital Angel
Corporation, has agreed to assume the role of CEO of PositiveID Animal
Health. Mr. Geissler specializes in managing companies and technologies
involved in the veterinary science field by selectively discovering or
creating technologies and strategically introducing those assets to the
markets. His vision and implementation are directly responsible for
bringing the implantable microchip from "just an idea" to its highly
successful current status of more than 80,000,000 RFID microchips
implanted in animals worldwide for identification and tracking.
PositiveID Animal Health will address the growing concern of animal
health through diagnostic/clinical response products, applications and
test kits. It will expand PositiveID's relationship with RECEPTORS LLC
by applying its Patent No. 7,125,382 entitled "Embedded Bio-Sensor
System," in conjunction with its exclusive license 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," to develop an in vivo glucose-sensing radio
frequency microchip (and other sensor applications) for animals,
including, but not limited to, pets and livestock.
Using similar technology to the Company's recent virus triage detection
system for H1N1 and other pandemic viruses in humans, PositiveID Animal
Health will focus on providing similar products, applications and test
kits to the animal world. Specifically, (pandemic) virus outbreaks are
not limited to humans. Kennel outbreaks ranging from kennel cough to
Canine Respiratory Coronavirus Disease, also known as dog flu, affect
thousands of pets annually in the kennel populations. Also, virus
outbreaks can greatly affect the food chain (livestock). Diseases
ranging from bird flu to mad cow disease have greatly affected the
availability and quality of global food supply over the last several
decades.
Commenting on the formation of PositiveID Animal Health, PositiveID's
Chairman and CEO Scott R. Silverman, stated, "As the breadth of our
overall Health ID platform evolves, it becomes apparent that our
relationship with RECEPTORS and its intellectual property can add
similar benefits to the animal world, as well as the existing human
applications. Glucose-sensor applications and early virus detection
systems form the foundation of a much larger swath of products and
applications for the animal world. Under the leadership of Randy
Geissler, we expect PositiveID Animal Health to grow quickly and assume
a leadership role in this unique space."
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 the Company's future expectations, including its
ability to address the growing concern of animal health through
diagnostic/clinical response products, applications and test kits, its
ability to expand its relationship with RECEPTORS to develop an in vivo
glucose-sensing radio frequency microchip (and other sensor
applications) for animals, including, but not limited to, pets and
livestock, its ability to focus on providing similar products,
applications and test kits to the animal world, the expectation that the
Company's relationship with RECEPTORS and its intellectual property can
add similar benefits to the animal world, as well as existing human
applications, the expectation that the Company will grow quickly and
assume a leadership role in this unique space, 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 the Company's actual results could
differ materially from expected results. These risks and uncertainties
include the Company's ability to successfully develop and commercialize
the Animal Health diagnostic/clinical response products, applications
and test kits (its "Technologies" ), the Company's and RECEPTORS' ability
to develop its Technologies, the validity, scope and enforceability of
the Company's patents and those related to its Technologies, the
protection afforded by the Company's patents and those related to its
Technologies, government regulations relating to its Technologies, the
Company's ability to fund the continued development of its Technologies,
the timing and success of submission, acceptance and approval of
required regulatory filings, uncertainty as to its working capital
requirements over the next 12 to 24 months, competitive and economic
influences, 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.
PositiveID Corporation
Allison Tomek, 561-805-8000
atomek@positiveidcorp.com
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