Chembio Supports Regulatory Path Recommended by FDA Committee for Approval of Over the Counter Rapid HIV Tests.MEDFORD, N.Y. -- Chembio is pleased by the recommendation that was given to the Food & 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. ) by FDA's Blood Products Advisory Committee (BPAC BPAC Baruch Performing Arts Center (New York, NY) BPAC Business Procurement Assistance Center (West Bend, WI) BPAC Bicycle and Pedestrian Advisory Commission (Durham, NC) ) on Friday, March 10 concerning proposed regulatory requirements for the approval of over the counter (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). ) distribution of rapid HIV tests. The BPAC was unanimous in its recommendation that products that are or become approved by the FDA for professional use would automatically meet the analytical sensitivity and specificity requirements that are part of the first of three phases of requirements that BPAC recommended for OTC distribution. Chembio is expecting professional market approval of two of its three rapid HIV tests, 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 STAT-PAK(TM) and SURE CHECK(R) HIV during the first half of this year. The main additional recommended requirements will be for studies to ensure that untrained users, in both controlled and intended use settings, will be able to properly perform the tests, interpret results, and fully understand the informational materials that will be required to accompany each test kit, which will include information regarding access to counseling and treatment. Material presented at BPAC can be viewed at http://www.fda.gov/ohrms/dockets/ac/cber06.html#BloodProducts. Chembio's 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. Lawrence Siebert, who attended the hearing with Avi Pelossof, Chembio's VP Sales, Marketing and Business Development, said: "Possible U.S. OTC approval opens up a new potential market for our products, one that should help identify those HIV-positive individuals in the U.S. who are unaware of their status." Avi Pelossof said: "Our goal is to make HIV rapid tests more accessible. The OTC market Noun 1. OTC market - a stock exchange where securities transactions are made via telephone and computer rather than on the floor of an exchange over-the-counter market will provide more options for those wishing to learn their HIV status. Chembio's ability to produce high quality, multi-platform products that are also competitively priced and have a 24 month shelf-life should be a significant advantage in the OTC market." ABOUT CHEMBIO Chembio Diagnostics, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CEMI CEMI Center for Experimental Music and Intermedia (University of North Texas, Denton, TX) CEMI Communications-Electronics Maintenance Instruction ) possesses expertise in the development and manufacturing of rapid diagnostic tests for various infectious diseases. Chembio is participating in the frontlines of the global battle against the devastating dev·as·tate tr.v. dev·as·tat·ed, dev·as·tat·ing, dev·as·tates 1. To lay waste; destroy. 2. To overwhelm; confound; stun: was devastated by the rude remark. AIDS pandemic. This battle, to which the United States alone has pledged $15 billion in international aid, is the impetus behind Chembio's rapid HIV tests. Because rapid tests can detect HIV antibodies within minutes, the massive prevention and treatment programs that are now scaling up can be much more effective. Chembio is one of four global rapid HIV test suppliers under the Clinton HIV/AIDS HIV/AIDS Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome Initiative (www.clintonfoundation.org). The Company also manufactures additional rapid tests that it has developed for other deadly diseases, including human and veterinary Tuberculosis and Chagas Disease Cha·gas disease or Cha·gas-Cruz disease n. See South American trypanosomiasis. . References to Chembio Diagnostics, Inc. may actually refer to Chembio Diagnostic Systems, Inc.; the wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Chembio Diagnostics, Inc. Chembio is located at 3661 Horseblock Road, Medford, NY 11763. For additional information please visit www.chembio.com. FORWARD-LOOKING STATEMENTS Statements contained herein that are not historical facts may be forward-looking statements within the meaning of the Securities Act of 1933, as amended. Forward-looking statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements are estimates only, as the Company has not completed the preparation of its financial statements for those periods, nor has its auditor completed the audit of those results. Actual revenue may differ materially from those anticipated in this press release. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to Chembio's ability to obtain additional financing, to obtain regulatory approvals in a timely manner, and the demand for Chembio's products. Chembio undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in Chembio's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact Chembio's success are more fully disclosed in Chembio's most recent public filings with the U.S. Securities and Exchange Commission. |
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