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Biotech / Medical : ABAX --- lots of upside -- Ignore unavailable to you. Want to Upgrade?

To: burner who wrote (445)	6/1/1998 10:00:00 AM
From: PACKRATCAT	Respond to of 492

Hey, now this is news.... and good news at that.... Matthew OURCE: ABAXIS, Inc. ABAXIS Signs Exclusive Distribution Agreement With Genzyme SUNNYVALE, Calif., June 1 /PRNewswire/ -- ABAXIS, Inc. (Nasdaq: ABAX - news), a medical products company manufacturing point-of-care blood chemistry systems, announced today that it had signed an exclusive distribution agreement with Genzyme Virotech for distribution of the Abaxis products in Germany. This agreement includes both the VetScan and Piccolo blood chemistry systems. Genzyme Virotech is a part of the diagnostics unit of Genzyme General, a division of Genzyme Corporation [Nasdaq:GENZ - news]. A highly diversified company, Genzyme uses a wide range of technologies to provide 900 human health care products and services. Chairman Clint Severson commented, ''We are very happy to begin this relationship with Genzyme to address the significant market opportunities in Germany, the largest market for our products in Europe. We feel we are now able to maximize our position in Europe with the many potential customers in both the medical and veterinary markets.'' Peter Kessler, Managing Director of Genzyme Virotech, stated: ''We see Abaxis' exclusive distribution relationship as the major step to enter new German diagnostics markets. Abaxis offers an excellent technology and an extremely popular instrument. The Abaxis products fit perfectly in the Genzyme strategy to offer products with the potential to change the way health care is done.'' 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 tests on whole blood using either venous or fingerstick samples. The system provides test results in less than 15 minutes with the precision and accuracy equivalent to a clinical laboratory.