American Bio Medica Receives FDA Clearance For The 8 Panel Rapid Drug Screen.ANCRAMDALE, N.Y.--(BW HealthWire)--March 25, 1998--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) today announced that the U.S. Food and Drug Administration (FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. ) cleared the Company's 510 (k) submission for the 8 panel Rapid Drug Screen(TM) which detects the presence or absence of THC THC tetrahydrocannabinol. THC n. Tetrahydrocannabinol; a compound that is obtained from cannabis or is made synthetically; it is the primary intoxicant in marijuana and hashish. , cocaine, opiates, PCP PCP abbr. 1. phencyclidine 2. primary care physician Pneumocystis carinii pneumonia (PCP) , amphetamines, benzodiazepines Benzodiazepines Definition Benzodiazepines are medicines that help relieve nervousness, tension, and other symptoms by slowing the central nervous system. Purpose Benzodiazepines are a type of antianxiety drugs. , methamphetamines, and barbiturates Barbiturates Definition Barbiturates are medicines that act on the central nervous system and cause drowsiness and can control seizures. Purpose . The 8 panel Rapid Drug Screen utilizes the same proprietary, patent-pending on-site testing apparatus as the Company's original 5 panel Rapid Drug Screen which the FDA cleared last year. Unrivaled for its ease of use, the Rapid Drug Screen is the most secure on-site test for drugs of abuse on the market. FDA clearance of the 8 panel version opens the door for marketing to clinical sectors. This expands the product line offered by the Company's North American hospital and laboratory distributor Murex Diagnostics, Inc., a subsidiary of International Murex Technologies Corporation (NASDAQ:MURXF). "This second FDA clearance confirms the accuracy of the 8 panel Rapid Drug Screen and further increases our credibility within clinical sectors, thus strengthening our ability to capture stronger clinical market share," said Stan Cipkowski, president of American Bio Medica. According to Jay Bendis, vice president of sales and marketing at American Bio Medica, "We are excited about the FDA clearance of our 8 panel test which we feel is a perfect fit for Murex's distribution network. The clearance should also facilitate efforts by the Physicians Drug Test NetworkSM to recruit an extensive network of physician members." In a related announcement, the Company reported that the March 16, 1998 agreement for Abbott Laboratories to acquire International Murex Technologies Corporation is not expected to affect the January 1998 distribution agreement between a subsidiary of Murex and ABMC. American Bio Medica Corporation develops, manufactures, and markets rapid, inexpensive, and easy to use diagnostic kits and support services to substance abuse testing markets worldwide. ABMC's drug detection strip is proven to correlate 100% with the results produced by the SYVA EMIT II standard laboratory test. -0- Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. For further information, updates, and a current report, see www.otcfn.com/abmc CONTACT: Geoffrey J. Eiten Lester Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. President Director of Marketing OTC Communications American Bio Medica (888) 433-3077 / (781) 444-6100 (561) 362-7701 |
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