|PositiveID Completes Design of Handheld Breath Glucose Detection Device|
|By Staff and Wire Reports|
|Wednesday, 21 July 2010 09:47|
PositiveID Corporation (Nasdaq:PSID) has completed the design of its prototype handheld Easy Check Breath Glucose Detection Device and plans to complete the development of the prototype in the next few months.
Back in May, sources told BioMedReports that a bigger company had taken an interest in partnering with PSID for a piece of the huge diabetic market that the testing unit would open up. That news sent stock prices soaring, but the news was delayed. Today, sources tell us that PSID is in final stage discussions regarding the partnership and that they have been asked to design a complete trial of the product, which the new partner has agreed to pay for. According to the source, that expensive trial design process is the reason why an official news announcement has not been made until now; almost 3 months later.
This unique, non-invasive glucose detection system measures the levels of acetone in a patient’s exhaled breath. It combines a proprietary chemical mixture with exhaled breath, which creates a new molecular compound that can be measured with the Company’s patent-pending technology.
The small unit, measuring approximately 5.5 inches by 4.5 inches, utilizes a single-use capsule containing a proprietary reagent that triggers a chemical reaction that can be immediately measured and correlated to blood glucose levels.
PSID believes this device could eliminate a patient's need to prick his or her finger multiple times per day in order to get a blood sugar reading.
Again, the company plans to begin conducting side-by-side comparisons of the handheld device versus the standard "finger stick" earlier than originally anticipated.
Shares are up on the news and while the identity of the potential partner has not been disclosed, we are told that "it makes sense that he company would seek to get involved with PositiveID in helping to develop the product.
Scott R. Silverman, Chairman and CEO of PositiveID, said, "We are very pleased that the development and design of our non-invasive Easy Check Breath Glucose Detection Device has occurred ahead of schedule. We believe the accelerated completion of the initial design phase will potentially allow us to begin testing the handheld device during 2010."
The compact, portable, battery operated and easy to use design includes an advanced laser optical sensor, a state-of-the-art microprocessor and the Company's patent pending chemical sensors. By loading the reagent capsule into the cartridge chamber and exhaling into the device, the Company hopes that a user will be able to test blood sugar levels without the drop of blood presently required by existing glucose measuring devices.
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 within 25 years, and the annual cost of treating them may triple to $336 billion.