PositiveID (PSID) Pops on Strategic Relationship with Raytheon Microelectronics Espana

PositiveID Corporation (Nasdaq: PSID) shares are rocking today following a disclosure with the U.S. Securities and Exchange Commission confirming a strategic relationship with Raytheon Microelectronics Espana S.A.. The stock is up over 8% early today.

According to the filing: "Raytheon's unit will use the PositiveID’s intellectual property to develop and manufacture the Company’s 8-millimeter microchip.

Per the letter agreement, Raytheon has agreed to provide technical, developmental and production support for the Company’s 8-millimeter microchip to be used for the Company’s medical device customers, including Medical Components, Inc.

PositiveID has agreed to sell its 8-millimeter microchip to Medcomp for implantation into Medcomp’s vascular ports. This strategic relationship with Raytheon is expected to support those sales."

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