Bio-Reference Laboratories, Inc. Announces That BioView DUET, a Cancer Diagnostic System, Has Received FDA Approval.Business Editors/Health/Medical Writers ELMWOOD PARK Elmwood Park, village (1990 pop. 23,206), Cook co., NE Ill., a suburb of Chicago; inc. 1914. It is chiefly residential. , N.J.--(BUSINESS WIRE)--Sept. 18, 2003 Bio-Reference Laboratories, 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 : BRLI BRLI Bio Rad Laboratories Inc ) announced that BioView, Ltd. of Rehovot, Israel , has received Federal 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. ) clearance for the BioView DUET(TM) system for in-vitro diagnosis use as an aiding tool to the pathologist in the detection of hematopoietic cells Hematopoietic cells Those cells that are lodged within the bone marrow, and which are responsible for producing the cells which circulate in the blood (red blood cells, white blood cells, and platelets). Mentioned in: Aplastic Anemia . BRLI utilizes the DUET System pursuant to a Strategic Marketing Agreement announced between the two parties in April of this year. The BioView DUET(TM) system enables the delivery of enhanced reporting to BRLI physician customers for diagnosing and monitoring patients with hematological hematological, hematologic pertaining to or emanating from blood cells. hematological tests total and differential white cell counts, hematocrit estimation, erythrocyte count. cancers such as leukemia, lymphoma, myelodysplasia and plasma cell plasma cell n. An antibody-producing lymphocyte derived from a B cell upon reaction with a specific antigen. Also called plasmacyte. Plasma cell disorders. BioView's advanced technology rapidly links morphological analysis with FISH technology so that a pathologist can rapidly link specific genetic mutation with specific blood cell type. According to BioView, the utilization of its system generates increased information that is not provided by any other commercial technology while providing fast, accurate and highly sensitive results. The previously announced Strategic Marketing Agreement grants Bio-Reference certain marketing rights to use the BioView DUET(TM) System for hematological oncology analysis. Pursuant to the Agreement, the two companies are working together to market the system. Marc Grodman, MD, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and President of Bio-Reference Laboratories, stated, "We believe that BioView Duet System will make a significant advancement in the diagnosis and monitoring of cancer patients, especially those with hematological malignancies such as lymphoma and leukemia. FDA clearance will further encourage the technology's acceptance and adoption by practicing physicians. As a value-added reporting solution for our customers, BioView's technologically advanced reporting capability is an integral part of a focused marketing strategy for BRLI's oncology division, GenPath. We have announced our Scientific Advisory Board, we have increased our sales and marketing team and we are continuing to enhance our capabilities to meet the large market opportunity that currently exists in the field of hematological malignancies. We believe that our strategic relationship with BioView, in conjunction with its FDA cleared system, will help us in the quest to establish ourselves as the premier oncology laboratory in the country." About Bio-Reference Laboratories, Inc. The Company is the largest independent regional clinical laboratory in the Northeast and has major market positions in physician offices, nursing homes and correctional institutions. The Company is a full service clinical laboratory with specialty capability, especially in the areas of genomics, oncology, correctional health, and complimentary medicine. PSIMedica, a business unit of the Company, is a clinical knowledge management (CKM CKM Cabibbo-Kobayashi-Maskawa (quark mixing matrix) CKM Certified Knowledge Manager (trademark of Hudson Associates Consulting, Inc. ) organization offering an array of information solutions for reducing healthcare costs and improving quality performance that are based on a flexible, scalable software analytical engine that utilizes all available source information, including claims data, enrollment data, prescription data and laboratory data. The Company provides a comprehensive connectivity solution to physicians which includes disease management, laboratory reporting and ordering, as well as claims and eligibility processing through CareEvolve, its web-based healthcare portal. Statements included in this release that are not historical in nature, are intended to be, and are hereby identified as "forward-looking statements". Statements looking forward in time are included in this release pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " 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. Such statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to be materially different from any future performance suggested herein. |
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