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PositiveID Corporation Enters Into License Agreement and Teaming Agreement With The Boeing Company
PositiveID Provides Boeing an Exclusive License to Manufacture and Sell M-BAND Units for the North American Market; PositiveID Retains Exclusive Rights to be the Reagent and Assay Supplier for the M-BAND Systems
Press Release : PositiveID Corporation – Thu, Dec 20, 2012 8:30 AM EST DELRAY BEACH, Fla., Dec. 20, 2012 (GLOBE NEWSWIRE) -- PositiveID Corporation ("PositiveID") ( PSID ), an emerging growth company and developer of airborne bio-threat detection systems for America's homeland defense industry as well as advanced technologies for rapid medical testing and diabetes management, today announced it has entered into a license agreement and a teaming agreement with The Boeing Company ("Boeing"), including a license fee to PositiveID of $2.5 million.
The license agreement provides Boeing the exclusive license to manufacture and sell PositiveID's M-BAND (Microfluidics-based Bioagent Networked Detector) airborne bio-threat detector for the U.S. Department of Homeland Security's ("DHS") BioWatch Generation 3 opportunity, as well as other opportunities (government or commercial) that may arise in the North American market. Under the teaming agreement, PositiveID will retain exclusive rights to serve as the reagent and assay supplier of the M-BAND systems to Boeing in the U.S. market. PositiveID will also retain the right to sell M-BAND units, reagents and assays in international markets.
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