PositiveID receives new order to continue testing of M-BAND

PositiveID Corporation, a biological detection and diagnostics solution developer, announced on Thursday that it received a new order from a large government contractor to continue the testing and evaluation of its biological agent detector.

The new order will support the testing of PositiveID's Microfluidic Bioagent Autonomous Networked Detector (M-BAND) as part of an existing U.S. government contract. The new purchase order will increase PositiveID's 2014/2015 revenue and backlog estimate from $3.3 million to $3.5 million. PositiveID reiterated its revenue guidance of $4-10 million through the end of 2015, according to a PositiveID press release.

"We view this latest purchase order as another validation of not only our technical capabilities, but also our ability to collaborate with large commercial and government partners, while continuing to execute our strategy," William Caragol, the chairman and CEO of PositiveID, said. "We are very pleased to continue the testing of our M-BAND units to protect our nation's warfighters and defenders."

Under the terms of the contract, PositiveID cannot name the contractor and program for the government contract.

PositiveID develops biological detection systems for the U.S. homeland defense industry and rapid biological testing systems. The company develops microfluidic systems for the automated preparation and performance of biological assays to detect biological threats and analyze samples in a medical environment.