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Microcap & Penny Stocks : La Jolla Diagnostics, Inc.(OTC BB: LAJD) -- Ignore unavailable to you. Want to Upgrade?

To: Evelio Fernandez who wrote (72)	9/17/1998 10:17:00 AM
From: jeffrey rainey	Read Replies (1) \| Respond to of 168

JOLLA, Calif.--(BW HealthWire)--Sept. 17, 1998--La Jolla Diagnostics Inc. (OTC BB:LAJD), announced today that it has now consummated agreements first announced through its Sept. 1, 1998 press release. Those agreements called for the formation of a subsidiary and the acquisition, through that subsidiary, of the assets of ATS Inc., a privately held company. The name of the new subsidiary will be DiagnosTech Inc. In addition to the state-of-the-art rapid diagnostic tests an international distributor base acquired from ATS, DiagnosTech will be marketing some of La Jolla Diagnostic's products, particularly as they pertain to diagnostics and international markets. One of the rapid diagnostics acquired is a proprietary, patent pending test for active tuberculosis. The accuracy and efficiency of this TB test has been confirmed in three separate clinical trials, and it is currently approved for sale in several countries with approvals pending in numerous others, including Japan, where a major Japanese pharmaceutical company, having completed its own testing, is in the process of registering the product with the Japanese Ministry of Health. The World Health Organization (WHO) projects that a total of 1 billion TB tests will be performed annually by the year 2000, and presently there is no other test available that can rapidly determine if the disease is in an active state. Other assets acquired in acquisition include rapid diagnostic tests for HIV I & II, H. Pilori, and Hepatitis B. In addition, G. Bruce Whitfield, J.D., and Stephen C. Roberts, M.D., both previously of ATS, are joining La Jolla's management on a full-time basis, and are to be added to the company's Board of Directors. Whitfield was previously a founder and partner of the law firm of DeBonen and Whitfield, specializing in the practice of business transactional law and litigation. Whitfield has participated in the formation and development of several successful ventures, including United States Solutions and Bixel Financial, where in each case he continues presently as a board member. Roberts was formally a principal of Maven Securities Inc. and of Talon Associates, a consulting firm specializing in market evaluation and planning of medical device companies. Roberts received his medical degree from the University of Minnesota and currently serves on the boards of Sojourn Adult Day Care Centers and Maven Holdings. La Jolla Diagnostics is an emerging company, engaged in the development and marketing of diagnostic tests, health care products and nutraceuticals. The healthcare and nutraceuticals products are formulated using a patented (see note below) clustered-water technology. Note: U.S. Patent 5711950