Clinical Data -Australia- and Medical Innovations Ltd. Form a Strategic Alliance in Immuno-diagnostics.NEWTON, Mass.--(BW HealthWire)--March 22, 1999--Novitron International, 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 :NOVI) announced today that the Company's subsidiary, Clinical Data (Australia) Pty. Ltd. and Medical Innovations Limited ("MIL"), both of Sydney, Australia, have entered into a global strategic alliance for the distribution of MIL's current immunoassay Immunoassay An assay that quantifies antigen or antibody by immunochemical means. The antigen can be a relatively simple substance such as a drug, or a complex one such as a protein or a virus. diagnostics and for the development of an diagnostic system based on instrumentation to be developed by Novitron International's Dutch subsidiary, Vital Scientific NV. Medical Innovations (ASX ASX See: Australian Stock Exchange :MIV MIV Motorisierter Individualverkehr (German: Motorized Individual Traffic) MIV Master Internet Volunteer (University of Minnesota Extension Service) MIV Multimedia, Internet & Video ) has developed a range unique tumor marker tumor marker n. A substance, released into the circulation by tumor tissue, whose detection in the serum indicates the presence of a specific type of tumor. assays used in the management of breast and ovarian cancers and in the diagnosis of autoimmune diseases Autoimmune diseases A group of diseases, like rheumatoid arthritis and systemic lupus erythematosus, in which immune cells turn on the body, attacking various tissues and organs. Mentioned in: Complement Deficiencies, Premature Menopause . The company has an extensive knowledge base in the formulation and production of immuno-diagnostic assays. The distribution agreement with Clinical Data (Australia) covers the full range of MIL's existing tumor markers and autoimmune assays which had 1998 sales exceeding A$850,000 (US$535,000). Clinical Data will distribute the MIL range of products directly in Australia and will manage and expand the international distribution network built up by MIL over the past five years. The diagnostic system to be developed, incorporates an automated analytical instrument and dedicated reagents, and is now scheduled for introduction in the year 2000, with distribution jointly handled by Clinical Data (Australia) and Vital Scientific. Adrian Tennyenhuis, Managing Director of Clinical Data (Australia), commented, "The strategic relationship established with MIL will give our company the critical mass it needs to continue it's record of strong growth in the Australian market and, importantly, will give us access to a complete diagnostic system under a single brand." Israel M. Stein MD, President of Novitron International further stated, "We look forward to this new relationship as it will give the Novitron group of companies a source of specialty reagents that it needs to enter the `systems'segment of the diagnostics marketplace." John Walsh LLB LLB abbr. Latin Legum Baccalaureus (Bachelor of Laws) LLB Bachelor of Laws [Latin Legum Baccalaureus] Noun 1. , Managing Director of MIL noted, "We are excited about the opportunity to include our reagents in a dedicated diagnostic system. `Diagnostic systems', we believe, is the fastest growing segment of the diagnostics market and the strategic alliance with Clinical Data will allow us to access market segments that have hitherto been unavailable to us". Novitron International, Inc. is a multinational company focusing on scientific instrumentation used in clinical and analytical laboratories and in process monitoring in industry. The Company's Dutch subsidiary, Vital Scientific NV, designs and manufactures scientific instrumentation marketed worldwide through distributors and strategic partnerships, including Dade Behring, Hycor Biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. , AVL (Automatic Vehicle Location) See mobile positioning. List, Wiener Lab, and SCIL SCIL Springfield Center for Independent Living SCIL Southern California Instruction Librarians SCIL Self-Contained Individualized Learning SCIL Switch Computer Interface Link (AT&T) SCIL Ships Construction Items Listing Animal Care. The Company's subsidiary Clinical Data (Australia) Pty. Ltd. distributes diagnostic instruments and assays in the South Pacific. The Company's Dutch subsidiary, NovaChem BV, develops and markets process monitoring technology. Except for any historical information contained in this release, the matters discussed herein include forward looking statements, within the meaning of Section 27A of the Securities Act of 1933 (as amended), that involve risk and uncertainties. Actual results could differ materially from those expressed in such statements and readers are referred to the Company's SEC reports and filings. |
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