David,
Here is the latest news:
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ABAXIS launches new hepatic function reagent disc; for use in Piccolo, VetScan point-of-care analyzers
SUNNYVALE, CALIF. (Nov. 6) BUSINESS WIRE -Nov. 6, 1996--ABAXIS Inc.
(NASDAQ/NM:ABAX), a medical products company, Wednesday announced it has
launched a new reagent disc product, the Liver Panel Plus 9, exclusively
designed to measure hepatic function with its Piccolo Point-of-Care
Blood Analyzer.
Recent receipt of 510(k) market clearance from the Food and Drug
Administration (FDA) of the liver enzyme test, gamma glutamyl
transferase (GGT), has enabled the company to market this product. A
similar product, the Liver Profile, already has been launched to the
veterinary market for use in ABAXIS' VetScan system.
"The Liver Panel Plus 9 fills a real medical need and will supply
clinicians with essential information to make evaluations on liver
function," said Clint H. Severson, ABAXIS' president and chief executive
officer. "This product is one of several disease- or organ-specific
diagnostic panels that we plan to develop and market to provide
health-care professionals with rapid and easy diagnosis of specific
organ or disease states."
In September, ABAXIS received 510(k) market clearance for its GGT test
from the FDA, bringing to 16 the total number of tests cleared, and 17
the total tests marketed by the company. ABAXIS configures these tests
into different combinations designed to serve unique diagnostic
information needs of health-care professionals.
For its Piccolo System, the company offers seven reagent disc products
including the General Health Panel 11, General Health Panel 8, Liver
Panel Plus 9, General Chemistry 6, General Chemistry 7, General
Chemistry 9 and General Chemistry 12. For the VetScan System, five
reagent disc products are offered: Diagnostic Profile, Diagnostic
Profile Plus, Prep Profile, Thyroxine (T4) and Liver Panel.
Additionally, the company markets two more reagent discs specifically
designed to meet the needs of its Japanese customers.
This news release contains words that identify forward-looking
statements which are made in reliance upon the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof.
The future events described in such statements involve risks and
uncertainties, among them, but not limited to, risks and uncertainties
related to the market acceptance of its products and the continuing
development of the company's products, including required FDA clearance
and other governmental approvals, risks associated with manufacturing
and distributing its products on a commercial scale, including complying
with federal and state food and drug regulations, general market
conditions, competition and other risks detailed from time to time in
ABAXIS' SEC reports.
Founded in 1989, ABAXIS develops, manufactures and markets portable
blood analysis systems for use in any patient-care setting to provide
clinicians with rapid blood constituent measurements. The system
consists of a compact, 6.9 kilogram, portable analyzer and a series of 8
cm diameter single-use plastic disks, called reagent discs, that contain
all the reagents necessary to perform a fixed menu of tests.
The system can be operated with minimal training and perform multiple
routine tests on whole blood using either venous or fingerstick samples.
The system provides test results in less than 14 minutes with the
precision and accuracy equivalent to a clinical laboratory.
--30--RPL/la*
CONTACT: ABAXIS Inc., Sunnyvale
Ting Lu, 408/745-6851
or
Pondel Parsons & Wilkinson, Los Angeles
Rob Whetstone, 310/207-9300
Internet: investor@pondel.com
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: MEDICINE PRODUCT REPEATS: New York 212-752-9600 or
800-221-2462; Boston 617-236-4266 or 800-225-2030; SF
415-986-4422 or 800-227-0845; LA 310-820-9473 Today's News On The Net -
Business Wire's full file on the Internet with
Hyperlinks to your home page. URL:
businesswire.com
* * * * * * * * * *
Dan Byrne
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