PositiveID (PSID) Inks Licensing Deal with Boeing

QualityStocks would like to highlight PositiveID Corporation (OTCBB: PSID), developer of unique medical devices and biological detection systems focused primarily on diabetes management, rapid medical testing, and airborne bio-threat detection. Its wholly-owned subsidiary, MicroFluidic Systems or MFS, is focused on the development of microfluidic systems for the automated preparation of and performance of biological assays. PositiveID Corporation was formed on November 10, 2009 through the merger of VeriChip Corporation and Steel Vault Corporation.

In the company’s news yesterday,

PositiveID signed a license and teaming agreement with The Boeing Company.

Per the agreement, which includes a license fee to PositiveID of $2.5 million, Boeing has the exclusive license to manufacture and sell PositiveID’s M-BAND (Microfluidics-based Bioagent Networked Detector) airborne bio-threat detector for the U.S. Department of Homeland Security’s (DHS) BioWatch Generation 3 opportunity, as well as other opportunities that may arise in the North American market.

PositiveID will retain exclusive rights to serve as the reagent and assay supplier of the M-BAND systems to Boeing in the U.S. market, as well as keep the right to sell M-BAND units, reagents, and assays in international markets.

PositiveID’s M-BAND is a bioaerosol monitor with full capability to collect, process, detect, and analyze air samples for the detection of bacteria, viruses, and toxins. Results from individual M-BAND instruments are reported through a secure wireless network in real time to give an accurate and up to date status. The M-BAND touts significant hardiness, operating from -25 to 125 degrees Fahrenheit, for both indoor and outdoor settings. Toxin analysis takes approximately 40 minutes. 

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