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Biotech / Medical : ACMI - Accumed Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Sigmund who wrote (1716)	5/27/1998 10:00:00 AM
From: Sigmund	Read Replies (2) \| Respond to of 1894

Received this by email. AccuMed International Completes Negotiations for Full Ownership of Oncometrics Imaging Chicago, May 27, 1998 - AccuMed International, Inc. (NASDAQ: ACMCD) announced today that it has entered into a letter of intent with Xillix Technologies Corp. whereby it has agreed to purchase Xillix's one-third interest in Oncometrics Imaging Corp. AccuMed acquired a two-thirds ownership position in Oncometrics in October 1996 to commercialize their quantitative microscopy imaging systems technology and the results from their advanced research in early cancer detection. The terms of the purchase agreement were not disclosed. Paul F. Lavallee, Chairman, President and CEO of AccuMed stated that "Oncometrics has developed quantitative cellular DNA stains and analytical computer software that have been integrated with AccuMed's high-precision computer-aided screening AcCell? workstations. The jointly developed AcCell-Savant? product line is an important component of AccuMed's recently focused product strategy that may speed the development of automated cancer screening and diagnostic support systems for, among others, lung, cervical, bladder and gastro-intestinal cancer detection." "Oncometrics has recently completed a multi-national early lung cancer screening field study involving more than a thousand samples demonstrating the feasibility of the routine clinical use of quantitative microscopy techniques to nearly double the detection rate of early stage, curable lung cancer cases," said Norman J. Pressman, Ph.D., Chief Scientific Officer and Senior VP of R&D at AccuMed. Pressman also indicated that "AccuMed's focus of cytometry systems is resulting in screening systems with significant advantages for the clinical diagnostic laboratory markets and will lead to improved diagnostic support systems for physicians." "The AccuMed and Oncometrics technologies will lead to improved detection of early lung cancer cases. These newly detected cases will require localization of the pre-cancerous and cancerous lesions. That represents a significant opportunity for expanded use of the Xillix LIFE System platform of products," said Pierre Leduc, President and CEO of Xillix. AccuMed International, Inc., headquartered in Chicago, is a global advanced diagnostics and information solutions company. AccuMed is an emerging leader in integrated, technology-driven systems that accommodate the clinical laboratory's need to maintain quality while achieving more cost-effective operation. The company manufactures and markets a full line of proprietary, FDA-cleared bacterial microbiology disposable tests and instruments and integrated automated cytopathology systems. Except for the historical information contained herein, the matters discussed in this news release are deemed "forward-looking statements" under federal securities laws that involve risks and uncertainties. Actual results may differ materially from those in the forward-looking statements depending on a number of factors, including, among other things, the ability to maintain long-term relationships with corporate partners, the ability to bring products to market through the regulatory approval process, uncertainty of future profitability, financing requirements, and other factors detailed in AccuMed's filings with the Securities and Exchange Commission. * * * Visit AccuMed's web site at accumed.com For investor information, contact Darlene Czaja Telephone: (312) 397-7455 FAX: (312) 642-3492 e-mail: ir@accumed.com