Colorado MEDtech Inc. Signs Second Contract with Gen-Probe Incorporated.BOULDER, Colo.--(HealthWire)--Aug. 28, 1996--Colorado MEDtech 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 :CMED CMED Coordinated Medical Emergency Direction CMED Central Massachusetts Emergency Dispatch ) announced that its 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. , RELA Inc., signed a second contract with Gen-Probe Incorporated. In May 1996, the company announced the first contract for design and development of a new medical diagnostic instrument. With this second contract, RELA is to design and develop an instrument which will be integrated with the first instrument. This development effort is also expected to be in excess of several million dollars and to take slightly over one year to complete. The companion instrument will utilize Gen-Probe's patented genetic probe technology. The two instruments will comprise a unified system with a single user interface and will generate test results which will aid in the diagnosis of STDs, TB, 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. , other infectious diseases, and various forms of cancer. "We are pleased to expand our relationship with Gen-Probe, and to have this exciting follow-up project," said John V. Atanasoff, president and chief executive officer. "We believe that our years of experience in designing and developing automated diagnostic instruments provide a solid foundation for these programs." Gen-Probe Incorporated, based in San Diego, is a wholly owned subsidiary of Chugai Pharmaceutical Co. Ltd. Gen-Probe develops, manufactures and commercializes diagnostic products based on its patented genetic probe technology. Colorado MEDtech develops, manufactures and markets computerized diagnostic testing equipment for use in respiratory care. Its wholly owned subsidiary, RELA Inc., is a custom product developer and manufacturer of diagnostic and therapeutic devices for the healthcare industry. CONTACT: Colorado MEDtech, Boulder John V. Atanasoff, 303/530-2660 (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. ) Bruce L. Arfmann, 303/530-2660 (CFO See Chief Financial Officer. ) bla@rela.uucp.netcom.com |
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