Navigation Links
ABAXIS Announces Worldwide Animal Health Licensing Agreement for Rapid Test Technology
Date:1/7/2009

UNION CITY, Calif., Jan. 7 /PRNewswire-FirstCall/ -- Abaxis, Inc. (Nasdaq: ABAX), a medical products company manufacturing point-of-care blood analysis instruments for both the medical and veterinary markets, announced today that it has entered into a license agreement for co-exclusive worldwide rights in the field of animal health diagnostics in the professional marketplace for certain technologies pertaining to lateral flow immunoassay devices and methods.

This license agreement provides Abaxis the co-exclusive opportunity to utilize these technologies to expand the Abaxis product portfolio and enter on a large scale the professional veterinary rapid diagnostic market. This includes point of care tests for infectious diseases, hormones and therapeutic drugs. The total market for these types of tests in the animal health and laboratory animal research is estimated to be over $100,000,000 in the United States alone.

"The VetScan brand is recognized in the research market and animal health industry worldwide as synonymous with quality, reliability and unparalleled cost effectiveness. The Abaxis rapid diagnostic product line now in development will extend these attributes into rapid test lateral flow devices and maintain Abaxis' standards of product excellence," said Clint Severson, Chairman and Chief Executive Officer. Kenneth Aron, PhD, Chief Technology Officer added, "With this license agreement we will now be able to develop and offer point of care tests for animal health in the professional marketplace in both our rotor format and in the popular "strip test" format. Having this license means that we can now move forward with an aggressive plan to develop and place our product offerings in the widest range of professional market segments throughout the veterinary industry."

About Abaxis, Inc.

Abaxis develops, manufactures and markets portable blood analysis systems for use in any veterinary or human patient-care setting to provide clinicians with rapid blood constituent measurements. The system consists of a compact, 5.1 kilogram (11.2 pounds), portable analyzer and a series of single-use plastic discs, called reagent discs that contain all the chemicals required to perform a panel of up to 13 tests on veterinary patients and 14 tests on human patients. The system can be operated with minimal training and performs multiple routine tests on whole blood, serum or plasma samples. The system provides test results in less than 12 minutes with the precision and accuracy equivalent to a clinical laboratory analyzer. The veterinary business also provides to the veterinarian and research market now a line of hematology instruments for point of care complete blood counts (CBC).

This press release includes statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Abaxis claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. Specific forward-looking statements contained in this press release include, but are not limited to, risks and uncertainties related to the market acceptance of the Company's products and the continuing development of its products, risks associated with manufacturing and distributing its products on a commercial scale, risks associated with entering the human diagnostic market on a larger scale, risks involved in carrying of inventory, risks from unexpected problems or delays in the Company's manufacturing facility, risks associated with the ability to attract and retain competent sales personnel, general market conditions, competition, risks and uncertainties related to its ability to raise capital in order to fund its operations and other risks detailed from time to time in Abaxis' periodic reports filed with the United States Securities and Exchange Commission. Forward-looking statements speak only as of the date the statement was made. Abaxis does not undertake and specifically disclaims any obligation to update any forward-looking statements.

    Contact:  Clint Severson             Lytham Partners, LLC
              Chief Executive Officer    Joe Dorame, Robert Blum and Joe Diaz
              Abaxis, Inc.               602-889-9700
              510-675-6500


'/>"/>
SOURCE Abaxis, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Abaxis, Inc. to Present at the RBC Capital Markets 2008 Healthcare Conference
2. Abaxis Reports Record Revenues and Operating Income for the Second Quarter of Fiscal 2009
3. Abaxis, Inc. to Present at the Sidoti & Companys Seventh Annual West Coast Emerging Growth Institutional Investor Forum
4. Abaxis Reports Financial Performance for the First Quarter of Fiscal 2009
5. Abaxis to Report Third Quarter Fiscal 2008 Financial Results Thursday, January 31, 2008
6. Abaxis CEO Clint Severson Named Entrepreneur of the Year by Forbes Magazine
7. Abaxis to Present at the Sidoti & Company Sixth Annual San Francisco Institutional Investor Forum Conference
8. Cell Therapeutics Announces Receipt of NASDAQ Panel Decision to Transfer to NASDAQ Capital Market
9. Horizon Therapeutics Announces Senior Management Appointments
10. BioSpecifics Technologies Corp. Announces Listing on NASDAQ Global Market
11. Star Scientific Announces Successful Completion of Product Satisfaction Study - Results Show Potential for Development and Manufacturing of New Pharmaceutical Product for Smoking and Smokeless Tobacco Cessation
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/21/2017)... ... April 21, 2017 , ... The University of ... round funding to three startups through the UConn Innovation Fund. The $1.5 million ... startups affiliated with UConn. , The UConn Innovation Fund provides investments of up ...
(Date:4/21/2017)... ... April 21, 2017 , ... Frederick Innovative ... range of emerging technology-based businesses, recently earned a $77,518 grant from the Rural ... Founded in 2004, FITCI is Frederick’s first incubator. A non-profit corporation, FITCI is ...
(Date:4/20/2017)... SANTA BARBARA, CALIFORNIA (PRWEB) , ... April 20, 2017 , ... ... process optimization firm for the life sciences and healthcare industries, is pleased to announce ... of the new established USDM subsidiary “USDM Europe GmbH” based in Germany. , ...
(Date:4/20/2017)... , ... April 20, 2017 , ... ... sources for advanced technology applications, announced today that Chief Executive Officer (CEO) Debbie ... SEMI is the global industry association connecting the electronics manufacturing supply ...
Breaking Biology Technology:
(Date:4/18/2017)... 2017  Socionext Inc., a global expert in SoC-based imaging and ... the M820, which features the company,s hybrid codec technology. A demonstration ... Probe, Inc., will be showcased during the upcoming Medtec Japan at ... the Las Vegas Convention Center April 24-27. ... Click here for an ...
(Date:4/11/2017)... Research and Markets has announced the addition of the "Global ... ... at a CAGR of 30.37% during the period 2017-2021. ... based on an in-depth market analysis with inputs from industry experts. ... the coming years. The report also includes a discussion of the ...
(Date:4/5/2017)... 5, 2017 Today HYPR Corp. , ... server component of the HYPR platform is officially ... end-to-end security architecture that empowers biometric authentication across Fortune ... already secured over 15 million users across the financial ... connected home product suites and physical access represent a ...
Breaking Biology News(10 mins):