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Biotech / Medical : American Bio Medica (ABMC) drug test solution -taking off! -- Ignore unavailable to you. Want to Upgrade?

To: David L. Wasylenko who wrote (539)	7/29/1999 11:59:00 AM
From: Mr. E	Respond to of 629

Still here and waiting. No news to speak of.

To: David L. Wasylenko who wrote (539)	7/29/1999 12:55:00 PM
From: Mr. E	Respond to of 629

Here's what Phamatech has to say about the law suit with ABMC. PHAMATECH RESPONDS TO ABMC PATENT INFRINGEMENT LAWSUIT San Diego, CA Phamatech Inc., a manufacturer of in-vitro diagnostic tests, including on-site drug testing devices, has filed suit against former customer ABMC-American Bio Medica Corporation of New York (NASDAQ: ABMC) for failure to make payment on more than $300,000 in overdue invoices. This action was taken in April 1999, approximately the same time as ABMC's filing of a patent-infringement case against Phamatech. Phamatech is one of the few companies in the nation with the resources and technical expertise necessary to produce the test strips that actually make on-site drug testing devices function. Until recently, ABMC purchased those same test strips directly from Phamatech and then assembled them in a plastic card device, which are sold for workplace testing. It is the decorative design of the plastic card that ABMC obtained a patent for in February of this year, not the technology embedded within. "For almost three years, ABMC enjoyed a very profitable relationship with us," says Dr. Tuan Pham, CEO of Phamatech, Inc. "We gave them excellent pricing and services. We provided technical assistance that helped improve their assembly processes and their product's design. We even allowed scheduled payments to make it easier for ABMC to meet their financial obligations. We see their lawsuit against us as an attempt to cloud the real issue. It is unfortunate that they have chosen to settle this issue in this manner." Phamatech's drug of abuse product line includes QuickScreenú panels and the At Homeú Drug Test, which is the only test in the nation cleared by the FDA for over-the-counter sales. It is designed as a tool for parents to help their children say "no" to drugs. -------------------------------------------------------------------------------- Contact: Lorraine Cogan Phamatech 619.635.5840 lorraine@phamatech.com