Published on March 7, 2014
detection and diagnostics InvestorIdeas.com Security and Defense Conference March 2014
Forward-Looking Statements Information contained in this presentation may contain forward-looking statements, including, but not limited to: PositiveID’s ability to participate in the BioWatch Generation 3 opportunity and PositiveID’s ability to complete development and commercialization of Firefly. These forwardlooking statements are not statements of historical fact and represent only PositiveID Corporation's beliefs regarding future performance, which is inherently uncertain. There are a variety of factors, many of which are beyond the control of PositiveID Corporation, which affect operations, performance, business strategy and results and could cause actual results and experience to differ materially from the expectations and objectives expressed in any forwardlooking statements. Additional information about these and other factors that could affect PositiveID Corporation's business is set forth in PositiveID Corporation's various filings with the Securities and Exchange Commission, including those set forth in PositiveID Corporation's Form 10-K filed on April 16, 2013, and Forms 10-Q filed on May 20, 2013 and August 14, 2013, as amended on August 19, 2013, and November 19, 2013, under the caption "Risk Factors." PositiveID Corporation undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law. 2
Overview PositiveID Corporation develops molecular diagnostic systems for bio-threat detection and rapid medical testing Strong IP portfolio - 20 patents and patents pending Two innovative products: the first positioned for large Department of Homeland Security (“DHS”) next generation bio detection system; the second developed for large commercial/diagnostic markets Initial technology developed with $30M in funding from DHS PSID has been selected by Boeing and SAIC/Leidos as a technology and license partner Strong management team 3
M-BAND Sample Prep Single Board Computer Archive Air Collector Air Conditioner Reagent Chiller Toxin Reagent Bay PCR Uninterruptable Power Supply Additional Reagents 5
M-BAND M-BAND Integrated Pathogen Detection Systems Developed under DHS BAND program specifically for the next generation of BioWatch Autonomous 24/7 operation for detection of airborne bacteria, viruses and toxins to help thwart a biological attack Monthly service interval Complex modules are “smart” − − Autonomous; internal processors with embedded firmware High-level command and data interface structures Easy field replacement and system upgrades − − Key modules accessible from front of unit All interfaces connected Fully networked with remote access and event notification Protected by a portfolio of 13 key patents and 3 patents pending. 6
M-BAND Advantages M-BAND is the only product to successfully complete development and testing under the DHS BAND program Operates continuously for up to 30 days between servicing Only known competitor is Lawrence Livermore National Laboratory’s APDS, licensed by Northrup Grumman, which requires weekly service – drastically increasing the total cost of ownership Complete integration of sample collection through toxin and pathogen detection and reporting of results Detects in 3-6 hours vs. 36-48 hours for currently deployed systems, ability to drastically minimize loss of life Uses TaqMan®-based PCR chemistry, the CDC as goldstandard TaqMan® assay used by U.S. Postal Service to detect anthrax - Over 7 million tests – no false positives - Extraordinary record is primary reason why other government agencies have selected TaqMan® technology 7
M-BAND Market Opportunities Next Generation BioWatch System Boeing paid PositiveID $2.5 million license fee; Boeing to be exclusive manufacturer and distributor of M-BAND units in North America PositiveID is exclusive provider of reagents/assays to Boeing for all MBAND units built and sold; long-term annuity (monthly) BioWatch next generation procurement anticipates 2,500 units to be deployed over 2014-2019; units will require monthly reagent/assay replacement 2,500 units could provide recurring revenue base of between $90-120M revenue annually, with 15-20% net margins Total value of next generation BioWatch system is estimated by DHS at $3 - $5 billion over five years One of two proven technologies that meets the needs of BioWatch next gen autonomous detection requirement Other opportunities Non-licensed markets: SAIC/Leidos DTRA contract, Europe, Asia, Middle East The annual global bio-detection market is forecast to grow to $5.6 billion by 2016 at a CAGR of 12% from 2011-2016* * According to Homeland Security Research Corporation (HSRC)’s Bio-Detection HLS-HLD Technologies & Global Markets – 2011-2016 8
Firefly Dx Overview Miniaturized version of M-BAND using same patented technologies and real-time TaqMan PCR detection Hand-held detection system provides sample purification, biological analysis and wireless communication of results in 15-30 minutes Data will be processed in real time and communicated to smart-phone (or PC) using mobile applications and cloud storage Single-use, portable disposable cassettes designed for resource limited areas and minimally trained personnel Advantages Cost-effective, fast results with high integrity (15-30min) Small operating footprint Enables more effective pre-outbreak counter-measures Applications Environmental bacteria, e.g. E. coli Clinical samples, e.g. HPV Antibiotic-resistant bacteria, e.g. MRSA Biothreat agents and forensic applications Sample Types Processed Blood, nasal swabs, buccal swabs, simulated urine, environmental 9 9
Firefly Market Opportunities Government/military deployments In discussions with several government agencies for biodosimetry application to test for radiation in blood samples Food safety/agricultural Global market for food safety testing projected to reach $19.7B by 2018* Medical/clinical Cancer and infectious disease market exceeds $4.6B** MRSA market continues to grow in U.S.; present in almost 80% of hospitals over 150 beds and 50% of smaller hospitals Respiratory infection and soft tissue infection have a combined market of $1.5B Women’s health market (STDs including CT/NG, HIV, HPV; Strep B) has a combined market size of $1.5B*** The global PCR market is projected to reach approx. $27.4B by 2015, with a CAGR of 13.9% from 2009-2015 North America is estimated as the largest market with a market share of 40% of global market and projects $10.7B by end-2010. *Global Industry Analysts Report , Food Safety Testing - A Global Strategic Business Report **Qiagen Corporate presentation 2008; Kalorama MDx Major World Markets 2007; TSG MDx Strategic Opportunities 2009 *** Hologic JP Morgan Presentation 2009 10
Investment Highlights Two exciting products based on patented and patent-pending technologies addressing large markets Unique positioning as one of only two technologies capable of addressing the requirements of next-gen automated BioWatch system, a $3 - $5 billion procurement Boeing signed exclusive license to manufacture M-BAND for BioWatch, paid PositiveID $2.5M; PositiveID will be exclusive provider of monthly reagents/assays for M-BAND units (annual market of $90M-$120M) Firefly market opportunity is vast; the global PCR market is projected to reach approx. $27.4B by 2015; food safety testing projected to reach $19.7B by 2018 Company believes it is ahead of competition with Firefly and expects field testing within 12 months of beginning build Strong management/partners/scientists with proven track records 11
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