PSID developed the M-BAND using $30 million in developmental funding from the U.S. Department of Homeland Security. This means that the public sector is believing in PositiveID, their business model, and their products. Support from the Department of Homeland Security could lead to strong positioning for next-generation bio-detection programs through the government moving forward.
PSID has been paid $2.5M by Boeing in a license and teaming agreement that gives Boeing exclusive manufacturing and distribution rights for the M-BAND in the U.S. PositiveID Corp. will be the exclusive provider of reagents and assays for the M-BAND to Boeing. This could develop nice revenue streams down the road. PositiveID Corp. is making large contracts in both the private and public sectors.
Additionally, in order to continue development of the Firefly Dx in a responsible way, PositiveID has entered a favorable $4 million financing deal with Dominion Capital, which has a “no-shorting” provision. For more information about PositiveID visit: http://www.psidcorp.com
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