American Bio Medica Appoints Master Distributor; MAVAND Solutions GmbH to sell ABMC products throughout Europe.KINDERHOOK, N.Y. -- American Bio Medica medica (māˑ·dē·k Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ABMC ABMC American Battle Monuments Commission ABMC Alexian Brothers Medical Center (Illinois) ABMC Aviation Battle Management Concept ABMC Arrowbear Music Camp (California) ) announced today that they have signed a distribution agreement with MAVAND Solutions GmbH. Under this Agreement, MAVAND will be exclusively marketing and selling ABMC's product line across the European continent, with the exception of the United Kingdom and Ireland; MAVAND's distribution rights in these countries is non-exclusive. MAVAND is not permitted to sell ABMC products in Spain or Portugal, as ABMC currently has authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: distributors for these countries. MAVAND Solutions GmbH is a diagnostic system vendor of product solutions for the European market. Ina Matallana-Kielmann, MAVAND's Managing Director, spoke about the agreement saying, "We appreciate that we have found in ABMC a strong partner in providing high-quality products. Together, we will serve the European market." Stan STAN Stanchion STAN Stärke- und Ausrüstungsnachweis (German) Stan Standard Man (human patient simulator) STAN SEMCIP Technical Assistance Network STAN System Trace Audit Number STAN Star Trek Area Network Cipkowski, ABMC Chief Executive Officer, commented on the Agreement, "We are very excited about this opportunity to work with MAVAND in Europe and expect this to be a profitable endeavor for both ABMC and MAVAND. ABMC is committed to maximum participation in the various road side testing projects around the world. The principals at MAVAND are the same people we have worked so successfully with on our Rapid Reader project, which is an integral part of road side testing pilots in several countries. Our partnership with MAVAND will ensure that our European endeavors are successful." For more information on ABMC or its drug testing products, please visit www.abmc.com About American Bio Medica Corporation American Bio Medica Corporation is a biotechnology company that develops, manufactures and markets accurate, cost-effective immunoassay Immunoassay An assay that quantifies antigen or antibody by immunochemical means. The antigen can be a relatively simple substance such as a drug, or a complex one such as a protein or a virus. diagnostic test kits, including some of the world's most effective point-of-collection tests for drugs of abuse. The Company and its worldwide distribution network target the workplace, government, corrections, clinical and educational markets. ABMC's Rapid Drug Screen(R), Rapid One(R), Rapid TEC(R) and RDS (1) (Remote Data Services) A set of programming interfaces from Microsoft that enables users to update data on the Internet or intranets from their ActiveX-enabled browser. (R) InCup(TM) products test for the presence or absence of drugs of abuse in urine, while OralStat(R) tests for the presence or absence of drugs of abuse in oral fluids. This release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . These forward-looking statements involve risks and uncertainties that could cause actual results to differ, and such differences could be material. Such risks and uncertainties include, but are not limited to, the following: continued acceptance of the Company's products, increased levels of competition in our industry, the acceptance of new products, inherent risks associated with product development and intellectual property rights, the Company's dependence on key personnel, third party sales and suppliers. There can be no assurance that the Company will be successful in addressing such risks and uncertainties and the Company assumes no duty to update any forward-looking statements based upon actual results. Investors are strongly encouraged to review the section entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: "Risk Factors" in the Company's annual report on Form 10-KSB for the fiscal year ended Dec. 31, 2003, and quarterly reports on Form 10-QSB on file with the Securities and Exchange Commission for a discussion of risks and uncertainties that could affect operating results and the market price of the Company's common shares. |
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