PositiveID submits revenue guidance for biothreat detection

PositiveID, a developer of biological detectors, announced on Friday that it submitted bids and proposals in conjunction with several large commercial partners in response to a pickup in U.S. procurements for biothreat detection.

The company is issuing its first ever revenue guidance of $4 million to $10 million over the next 18 months, $3.3 million of which is in backlog. PositiveID submitted for contract opportunities across multiple agencies to deploy, test, evaluate and/or develop the company's Firefly Dx and microfluidic bioagent autonomous networked detector (M-BAND) systems. The agencies include the Department of Health and Human Services, the DHS and the DoD.

"As more attention is being paid to the serious need for bio-threat detection technologies and programs, we continue to pursue opportunities with the U.S. government and other organizations to employ the critically important capabilities of our M-BAND and Firefly systems, which, we believe, offer accurate biological detection more rapidly than existing systems," William Caragol, the chairman and CEO of PositiveID, said. "It has been proven that faster identification of bio-threats enables countermeasures to be instituted more quickly, ultimately reducing casualties and saving lives."

M-BAND autonomously and continuously analyzes air sample to detect biological airborne threats. The DHS Science & Technology Directorate provided PositiveID $30 million of contract funding to develop the technology to detect biological weapon attacks.

Firefly Dx is a point-of-need, handheld system meant to deliver molecular diagnostic results from a sample in under 20 minutes using TaqMan polymerase chain reaction (PCR) chemistry. PositiveID is developing the system to meet the growing need for accurate and rapid point-of-need diagnostics to save lives.