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EDITEK WINS ARBITRATION AGAINST TRANSIA-DIFFCHAMB

 BURLINGTON, N.C., July 30 /PRNewswire/ -- EDITEK, Inc. (AMEX: EDI.EC) reported today that it has received a favorable decision from the American Arbitration Association relative to an arbitration proceeding between EDITEK and TRANSIA-DIFFCHAMB. The dispute arose as a result of a claim made by TRANSIA-DIFFCHAMB that TRANSIA-DIFFCHAMB had rights to the distribution of EDITEK agridiagnostic products in Europe stemming from a former relationship between EDITEK and TRANSIA, S.A., a French company that filed for bankruptcy in 1991. EDITEK has since entered into a sales, marketing and distribution relationship with the Rhone-Poulenc Diagnostics, Ltd. division of the French agrochemical conglomerate, Rhone-Poulenc. EDITEK asserted that the claims of a new company, TRANSIA-DIFFCHAMB, were invalid. TRANSIA-DIFFCHAMB, on the other hand, filed legal proceedings and recently had filed a claim for damages in excess of $1 million. As a result of TRANSIA-DIFFCHAMB initiating legal proceedings, EDITEK sought a decision through the American Arbitration Association which has now been rendered in favor of EDITEK confirming that EDITEK had no relationship with TRANSIA-DIFFCHAMB and is free to pursue its business in Europe.
 James D. Skinner, president and chief executive officer of EDITEK, stated: "We are delighted with the decision that has been reached by the arbitrator in this matter. It is unfortunate that our company was subjected to this type of litigation because of the expense involved as well as the deflection of management time away from the day-to-day conduct of our business. Now any confusion caused by TRANSIA-DIFFCHAMB has been cleared up and we and our partner in Europe, Rhone-Poulenc Diagnostics, Ltd., can freely get on with the challenge of building, together, our agridiagnostic business."
 EDITEK, Inc. is an emerging, biodiagnostic company with patented technology for the performance of rapid, on-site assays including one- step assays. The company currently sells products for the human/clinical, drugs of abuse and agridiagnostics/food safety testing markets. EDITEK also has research, development and supply agreements with Farnam Companies and the United States Department of Defense for veterinary diagnostics and tests for biological substances respectively.
 -0- 7/30/93
 /CONTACT: Peter Heath, Vice President Finance and Chief Financial Officer, EDITEK, Inc., 919-226-6311/
 (EDI)


CO: EDITEK, Inc.; TRANSIA-DIFFCHAMB; Rhone-Poulenc Diagnostics, Ltd. ST: North Carolina IN: MTC SU:

SB -- CH008 -- 7805 07/30/93 13:43 EDT
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Publication:PR Newswire
Date:Jul 30, 1993
Words:378
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