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

To: paul goldstein who wrote (4152)	2/2/1999 1:40:00 PM
From: Jonathan Schonsheck	Read Replies (1) \| Respond to of 4342

Threaders - Yet more good news! Paracelsian and Major Japanese Conglomerate Will Partner to Commercialize Patented Dioxin Test ITHACA, N.Y., Feb. 2 /PRNewswire/ -- Paracelsian Inc. (OTC Bulletin Board: PRLN - news) Paracelsian Inc. (http://www.paracelsian.com) announced today the establishment of a partnership with a major Japanese conglomerate to commercialize Paracelsian's patented screen for Dioxin, known as the Ah Immunoassay. The terms of the partnership, including financial considerations and the name of Paracelsian's partner were withheld pending completion of a formal agreement. The Japanese partner is involved in the construction and development of Municipal Waste incineration facilities among its various enterprises. ''We are excited to forge this significant alliance with a highly respected Japanese industrial partner,'' said Bernie Landes, Paracelsian's CEO. ''It reflects further success in developing this important and potentially revenue rich segment of our business that focuses on monitoring and protecting the environment with proprietary Paracelsian technologies,'' he added. The Ah Immunoassay provides a quick, easy, and accurate measure for highly toxic dioxins, while being much more time and cost efficient than the traditional GC/MS (Gas chromatograph / mass spectrometry) method. This is particularly important as the Japanese government continues to tighten restrictions on Dioxin output from the nearly 2,000 Municipal Waste Incinerators that process Japan's solid waste. Because of the high cost and slow turnaround time associated with GC/MS analysis, increased screening frequency has been a problem in Japan. The Ah Immunoassay, when implemented will allow high throughput screening of hundreds of samples in a single day at a fraction of the cost of GC/MS and without the need for highly trained technical staff. It is estimated that the cost of testing incinerator samples in Japan may be in excess of $20 million annually and the costs of forced shutdowns due to excess contamination can also run into the millions of dollars, both for the operators and local industry. In addition to the Japanese initiative, Paracelsian is also working with the United States Agency for International Development (USAID) on a project to demonstrate the value of the Dioxin screen for the same purpose in the Philippines. Upon completion of the first phase of the collaboration within the next two months, the scope of the project is expected to be expanded to include widespread testing of soil samples in the areas immediately adjacent to Municipal Waste Incinerators, a significant site of dioxin contamination. A similar program to monitor soil contamination is also underway in cooperation with an agency of the Chinese Government. This program is expected to expand in the future to include monitoring of water supplies, blood levels of dioxin of Chinese living in contaminated areas, and even monitoring of dioxin levels in the milk of nursing mothers.