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Biotech / Medical : Paracelsian Inc (PRLN) -- Ignore unavailable to you. Want to Upgrade?

To: Jonathan Schonsheck who wrote (4252)	7/21/1999 3:35:00 PM
From: FreedomForAll	Read Replies (1) \| Respond to of 4342

Paracelsian Signs Development Contract with Japanese Partner ITHACA, N.Y., July 21 /PRNewswire/ -- Paracelsian, Inc. (OTC Bulletin Board: PRLN - news) announced today that it has signed a contract with KUBOTA Corporation to further develop its patented Dioxin test, the Ah Immunoassay, specifically for use in screening samples of ash from municipal waste incinerators in Japan. Further agreements between the two companies are also under active discussion. Paracelsian announced on July 15, 1999 that it received notice of allowance for its latest patent application related to the Ah Immunoassay. The assay is highly accurate and can be performed in a fraction of the time and at a fraction of the cost of other Dioxin testing methods currently available. In addition to its use in testing incinerator ash, it can be used to detect dioxin and dioxin-like compounds in food, soil, water, or even the blood of wildlife or humans. The company also has foreign patent applications pending for this same technology, including a pending application in Japan. ``This quick, accurate, portable and inexpensive test for dioxin and dioxin-like compounds is the key technology driving Paracelsian's environmental business and provides a powerful new tool in the worldwide effort to monitor the presence of these highly toxic materials in our environment,' stated Bernie Landes, Paracelsian President and CEO. ``In addition to this new partnership, we are in negotiations to validate the use of the assay for testing food and water samples in China and Europe,' he added. ``We strongly believe that the Ah Immunoassay can become the primary vehicle for early detection of dioxin contamination on a worldwide basis,' he concluded. Paracelsian is a unique biotechnology company whose business centers on the development and application of functional bioassays. These assays are the basis of its BioFIT(TM) Quality Assurance program for herbs, botanicals and other dietary supplements, are also used in the development of dietary supplements, OTC and pharmaceutical products, and in monitoring environmental toxins and identifying carcinogens. The company is actively involved in E-commerce through its Internet business that leverages its unique relationships in China to provide proprietary content and a variety of research services related to Traditional Chinese Medicine on its China-med.net website (http://www.china-med.net). Notice: This news release may contain forward-looking statements. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including but not limited to, the results of research and development efforts, the effect of regulation by the United States Food and Drug Administration and other agencies, the impact of competitive products, product development, commercialization and technological difficulties, and other risks detailed in the Company's periodic reports filed with the Securities and Exchange Commission. No forward-looking statement is a guarantee of future results or events, and one should avoid placing undue reliance on such statements. SOURCE: Paracelsian, Inc.