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BIOMERICA ANNOUNCES NEW FINANCING FOR LANCER ORTHODONTICS

 BIOMERICA ANNOUNCES NEW FINANCING FOR LANCER ORTHODONTICS
 NEWPORT BEACH, Calif., Dec. 12 /PRNewswire/ -- Biomerica Inc. (NASDAQ: BMRA), has announced that it has reached an agreement with Dr. Roger Wolk of Malibu, Calif., to provide $500,000 in private placement funds for its subsidiary, Lancer Orthodontics Inc. (NASDAQ: LANZ). A payment of $100,000 has already been received and the Lancer board of directors has been expanded to include Dr. Wolk and Kenneth T. Friedman.
 Wolk is a graduate of the University of Southern California School of Dentistry. He has practiced in Malibu for over 21 years and holds numerous orthodontic patents. His contribution to Lancer will be very significant in that he will guide Lancer's advanced product development and business expansion. Friedman, a graduate of the Harvard Business School is the past president and founder of Houlihan, Locky, Howard & Zukin Capital. Friedman has been involved in various enterprises including mergers and acquisitions, strategic planning, business development, and capital formation. His financial expertise will be invaluable in creating various business opportunities for Lancer.
 Lancer Orthodontics Inc. designs, develops and manufactures orthodontic products which are sold to orthodontists, distributors, and private label customers. Lancer is one of a few publicly held orthodontic companies traded on NASDAQ. Biomerica owns a controlling interest in Lancer.
 Biomerica is a biomedical company engaged in the development, manufacturing and sales of advanced diagnostic products for heart attack, predisposition of diabetes, allergy, occult blood, certain cancers, and other clinical tests. In addition, Biomerica has an interest in a transdermal drug delivery operation and Lancer Orthodontics Inc.
 -0- 12/12/91
 /CONTACT: Joseph H. Irani, president of Biomerica, 714-645-2111/
 (BMRA LANZ) CO: Biomerica Inc.; Lancer Orthodontics Inc. ST: California IN: MTC SU:


AL-DM -- LA005 -- 1794 12/12/91 09:05 EST
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Publication:PR Newswire
Date:Dec 12, 1991
Words:292
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