Bio-Plexus clarifies strategy for growth.

TOLLAND, Conn.--(BUSINESS WIRE)--June 30, 1997--Bio-Plexus, Inc. (NASDAQ: BPLX), a designer, developer, manufacturer and marketer of safety medical products under the Punctur-Guard(R) name, told shareholders at the annual meeting that strategic partnerships are the key to the company's long-term growth strategies.

In his remarks to shareholders, Ron Haverl, chief executive officer, cited the alignment with one of the major medical suppliers as emblematic of the company's strategy for growth, and discussed the opportunities to leverage the partner's broad and established sales force, promotional resources and distribution network to increase sales volumes and control expenses. Haverl told shareholders that strategic partners also provide liquidity through license fees and expense reduction through fees for product development work.

Thomas Sutton, director of marketing and sales, added that the company intends to enter partnerships with major companies in a variety of market segments and concurred with Haverl that partnerships offer faster sales growth, lower costs and provide development and capital funding, license fees and earlier participation in multiple markets. Citing confidentiality agreements with several major medical companies, Sutton discussed opportunities in the fields of blood collection, hypodermic needles and central line introducer needles.

During the first quarter, negotiations with potential new strategic partners continued to progress. Bio-Plexus has retained Advest Corporate Finance to assist the Blood Collection Needle negotiations which began in March. Of the negotiations, Haverl said, "I am pleased with the progress we have made in the negotiations over Bio-Plexus' Blood Collection Line, and am optimistic that the alliance will have a favorable impact on the company's sales and financial condition."

Bio-Plexus reported record fiscal 1996 revenues of $2,734,000, up from $914,000 in 1995. Bio-Plexus also announced that it has added another industry award to its collection. The Centers for Disease Control ranked Bio-Plexus Punctur-Guard(R) as the number one safety blood collection device.

Bio-Plexus holds U.S. and international patents on safety devices marketed under the Punctur-Guard(R) name. These devices are designed to reduce the incidence of accidental needlesticks, which number more than 800,000 per year in the United States.

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