American Bio Medica Develops First On-Site Test for Oxycodone; Assay to Help Battle Growing Epidemic of 'Oxy' Misuse.

Business Editors, Health/Medical Writers

KINDERHOOK, N.Y.--(BUSINESS WIRE)--Aug. 27, 2001

American Bio Medica Corporation (NASDAQ:ABMC) today announced it has developed and will market an on-site, point of care assay capable of detecting oxycodone.

The product is the first onsite, rapid assay capable of detecting "Oxy" and will provide results in under 5 minutes.

Named RapidOne(TM)-OXY, the new test will be available for forensic use only, pending submission of clinical trial data for clearance from the United States Food and Drug Administration. According to Robert L. Aromando Jr., chairman and chief executive officer for ABMC, initial product performance measurements have been extremely promising.

"Our initial sensitivity data and cross reactivity results on the OXY test looks very encouraging," said Aromando. "That is obviously a key factor in making this assay available for research and forensic purposes. And the fact that Oxy misuse is one of the most perplexing, growing concerns in the war against drug abuse signaled to us the need for a company to step up to the plate and create a valuable screening tool."

Oxycodone is a synthetic opiate that is found in several legitimate and effective anti-pain medications, including OxyContin(R). Drug abusers often chew tablets, crush tablets into powder for snorting, or dissolve crushed powder in water for intravenous injection to create a powerful heroin-like high.

Oxy abuse is a growing concern, not only because a recent epidemic of overdoses has been linked to oxycodone, but also because Oxy abuse threatens the market availability of medications that, when used properly, offer tremendous advantages to pain sufferers.

"The bottom line is that a fast, screening resource was needed to identify cases where Oxy has been abused," said Aromando. "This assay will immediately help criminal justice, and eventually health care and clinical professionals, grapple with a growing drug issue. I am proud that ABMC was the one company able to react quickly to meet this need. This is an example of understanding our customers needs and mobilizing our resources to meet their needs in an expeditious manner."

ABMC is introducing RapidOne-OXY at the 26th Annual Training Institute of the American Probation and Parole Association in St. Paul, Minnesota. The company is taking orders for the product on a "forensic use only" basis at this time.

About American Bio Medica Corporation

American Bio Medica Corporation develops, manufactures and markets inexpensive, accurate on-site drugs-of-abuse diagnostic kits, sprays and support services worldwide. The company's global distributors target the workplace, physicians, corrections, clinical and educational markets. ABMC's Drug Detector(TM) identifies minute traces of illegal drugs on surfaces, while the company's Rapid Drug Screen(TM) tests individuals and is proven to correlate greater than 99% with the standard laboratory screening test.

Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risk and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, intellectual property rights and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.

OxyContin is a registered trademark of Purdue Pharma LP.