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BIOLOGIX RETURNS TO THE PUBLIC MARKET; TRADES ON NASDAQ - OTC AS BGIX

 SAN FRANCISCO, May 24 /PRNewswire/ -- The president and board of directors of BIOLOGIX announced today that the company has been approved by the National Association of Securities Dealers (NASD) to publicly trade its common stock on the NASDAQ - OTC Bulletin Board under the symbol: BGIX.
 BIOLOGIX is a diversified medical technology company and integrated developer, manufacturer and marketer of breakthrough products for critical care and emergency medical markets where patient survivability can be most dramatically affected. The company seeks to set new standards of care with its hand-held instruments and disposable biosensors for point-of-care laboratory accurate diagnosis (known commercially as the pHacs(TM) product line), as well as with its perflurocarbon-based red blood cell substitute for emergency treatment and oxygenation of critically ill patients (known commercially as Hem02stat(TM)).
 BIOLOGIX was originally founded in 1983 as a research and development partnership and incorporated in the State of California in 1984. Since inception, the company has raised and spent approximately $6.5 million on the development of its proprietary products through various public and private sources of financing. In addition, through its subsidiaries, contractors and strategic alliances with other joint- venture partners, BioLogix has licensed or acquired new and component technologies with another $25 million in "sunk" development costs. During 1992, the company was registered and domiciled in the State of Delaware and returns to the public market at this time by merger with an existing NASD and SEC reporting company.
 With the 1988 unveiling of its "pHacs" hand-held pH and blood gas analyzer, BIOLOGIX was first in the world to introduce the concept of "hand-held" point-of-care laboratory diagnosis ("laboratory in the palm- of-your-hand") for use in the field or at the scene of medical emergencies. After encountering delays in the high-volume production of its disposable "razor-blade" type biosensors, the company acquired new sensor technologies for advanced integration into the hand-held format and further diversified its product mix into the artificial blood market. Industry estimates place the revenue potential for BioLogix' products between $1-3 billion.
 -0- 5/24/93
 /CONTACT: Michael D. Grandon, president and chairman, 415-954-8588, or fax, 415-421-1731, or Donald L. Hejmanowski, director, 708-301-1328, or fax, 708-301-0554, both of BioLogix/
 (BGIX)


CO: BioLogix ST: California IN: MTC SU:

SG-GT -- SF001 -- 1545 05/24/93 09:05 EDT
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Publication:PR Newswire
Date:May 24, 1993
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