BFTI signs letter of intent to purchase the exclusive Latin-American marketing rights for a rapid immunochromotographic assay for the detection of the HIV 1/2 and Hepatitis "B" viruses.SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Sept. 27, 1995--Bio Fluorescent Technologies Inc. (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 :BFTI BFTI Brownfields Tax Incentive ) Wednesday announced the signing of a letter of intent with Wyding Holdings Inc. to purchase the exclusive Latin-American marketing rights for a rapid assay test for both the HIV HIV (Human Immunodeficiency Virus), either of two closely related retroviruses that invade T-helper lymphocytes and are responsible for AIDS. There are two types of HIV: HIV-1 and HIV-2. HIV-1 is responsible for the vast majority of AIDS in the United States. 1/2 and Hepatitis "B" virus. These rapid screening assays give results in 5-7 minutes without the requirement of laboratory equipment or trained technicians and can therefore be performed in doctors/dentists waiting rooms, offices or at home. Wyding Holdings Inc. has developed an extensive marketing network in Latin America with distribution already established in Mexico, Brazil, Argentina and Peru. These tests have already been approved for over the counter sales in Peru and similar permits are immanent im·ma·nent adj. 1. Existing or remaining within; inherent: believed in a God immanent in humans. 2. Restricted entirely to the mind; subjective. in Brazil and Argentina. It is anticipated that the purchase will be completed within the next 30 days. Referenced sources agree that the major trend is for increased screening of infectious diseases. The trend has been toward the development of user friendly products and, hence the latest development of rapid assay tests. The overall market, in Latin America, for diagnostics is projected to be $650 million by years end. BFTI's sales for this new product line is expected to reach $20 million by the end of 1997. The sales of these screening tests are a "natural lead in" for the company's flagship product the MEHICA GP120, a five minute fully automated Immuno-Fluorescence Assay (IFA Immunofluorescent assay (IFA) A blood test sometimes used to confirm ELISA results instead of using the Western blotting. In an IFA test, HIV antigen is mixed with a fluorescent compound and then with a sample of the patient's blood. ) processing system which handles the PAK PAK, n.pr See pyridoxal-alpha-ketoglutarate. (Packaged Antigen Kit) confirmatory HIV 1/2 fluorescent antigen test. CONTACT: Bio Fluorescent Technologies Inc., Scottsdale George, 800/870-1233 or Margaret, 800/665-1335 |
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