PositiveID Corporation ("PositiveID" or the “Company”) (NASDAQ: PSID) announced today that it plans to expand its HealthID division by adding products and tools for the daily management of diabetes. In addition to the continued development of its in vivo glucose-sensing RFID microchip to detect glucose levels in the human body, the Company is planning to broaden its technology platform by adding complementary non-invasive glucose-level testing technologies.
According to a November 2009 study by researchers at the University of Chicago published in the journal Diabetes Care, the number of diabetics in the U.S., which currently stands at 23.7 million, may almost double in 25 years, and the annual cost of treating them may triple to $336 billion.
The Company, in conjunction with development partner RECEPTORS LLC (“Receptors”), a technology company whose AFFINITY by DESIGN™ chemistry platform can be applied to the development of selective binding products, is in Phase II development of an in vivo glucose-sensing RFID microchip to detect glucose levels in the human body. The goal of Phase II is to develop a proof-of-principal sensing system consisting of a Combinatorial Artificial Receptors Array (CARA™) modified support and its complementary fluorophore labeled synthetic competitor agent. The companies expect that this sensing system will demonstrate a glucose concentration response in model blood and interstitial fluid matrices. Phase II is expected to be completed in the second quarter of 2010 and will build on Phase I, which successfully demonstrated the bench-top format application of the glucose-sensing system to the detection of glucose levels.