METRA BIOSYSTEMS AND ABBOTT LABORATORIES SIGN EXTENSIVE DEVELOPMENT AND MARKETING AGREEMENT; Worldwide Leader in Diagnostics to Co-develop Products With Metra.MOUNTAIN VIEW, Calif.--(HealthWire)--Feb. 22, 1996--Metra Biosystems (Nasdaq: MTRA MTRA Monster Truck Racing Association MTRA Money Transmitter Regulators Association MTRA Medical Technical Research Associates (San Bruno, CA) MTRA Medizinisch Technische Radiologie Assistentinnen ) announced today a non-exclusive development and marketing collaboration with Abbott Laboratories Abbott Laboratories (NYSE: ABT) is a diversified pharmaceuticals and health care company. It has over 65,000 employees and operates in 130 countries. The corporate headquarters are in Abbott Park, Illinois, a neighborhood of North Chicago, Illinois. (NYSE NYSE See: New York Stock Exchange : ABT ABT About ABT Abteilung (German: Department) ABT Abbott Laboratories (stock symbol) ABT American Ballet Theatre ABT Associação Brasileira de Telemarketing ABT Abort ABT Availability Based Tariff ) to commercialize Metra's biochemical bone markers globally, excluding Japan. The agreement grants Abbott the right to develop and market automated tests for metabolic bone and joint diseases based upon Metra's proprietary technologies. "This collaboration can provide physicians access to Metra's assays through Abbott's extensive base of diagnostic instruments," said George Dunbar George Dunbar (1774- 6 December, 1851), Scottish classical scholar and lexicographer, was born at Coldingham in Berwickshire. In early life he followed the humble profession of gardening, but, having been permanently injured by an accident, devoted himself to the study of the , President and Chief Executive Officer at Metra Biosystems. "Further, the Abbott collaboration supports Metra's strategy of developing partnerships to ensure accessibility to the Company's technologies." "Metabolic bone diseases metabolic bone disease Any defect in bone absorption or deposition that alters the PTH/calcium-phosphate/vitamin D axis, often with ↑ bone fragility Etiology Fibrous dysplasia, Langerhans' cell histiocytosis/histiocytosis X, acromegaly, corticosteroid therapy, and disorders are important growth areas. By providing physicians with a bone-specific panel of clinical assays, our goal is to make cost-effective diagnostics accessible for use in assessment of patients at higher risk and as an aid in the assessment of patients undergoing therapy," said James J. Koziarz, Ph.D., Corporate Vice President, Diagnostic Research and Development at Abbott Laboratories. Under the agreement, Abbott will provide funding and instruments to Metra for co-development of Metra's existing and future technologies on Abbott's automated systems. Additionally, Metra will receive a revenue stream from royalties and rare reagent sales to Abbott. Mr. Dunbar added, "This partnership also may help physicians provide patients with convenient access to clinical diagnostic testing Diagnostic testing Testing performed to determine if someone is affected with a particular disease. Mentioned in: Von Willebrand Disease , which may result in better patient management and outcomes. Assessing bone metabolism It is a common misconception that bones are static in nature and hardly change once an individual becomes an adult. On the contrary, bones are continuously undergoing a dynamic process of resorption and deposition known as bone metabolism. -- loss and formation -- helps physicians monitor their patient's treatment, and may give patients the reassurance they need to continue therapy." Metra Biosystems' goal is to become the leading provider of diagnostic products for the detection and management of bone and joint diseases. Metra's marketing and distribution strategies call for the Company to utilize strategic partnerships. These partners will adapt Metra's technologies in varying automated formats for use in both research and clinical laboratories worldwide. In addition to the Abbott collaboration, strong interest in Metra's technology has allowed the Company to establish a number of product development, marketing, sales, and distribution alliances with leading pharmaceutical and diagnostic companies. Abbott Laboratories is a worldwide manufacturer of health care products, employing 50,000 people. In 1995, the Company's sales and net earnings were $10.01 billion and $1.7 billion, respectively, with earnings per share of $2.12. Metra Biosystems is based in Mountain View, Calif., with European headquarters in Oxford, England, an office in Milan, Italy, and full time international staff to cover the Pacific Rim Pacific Rim, term used to describe the nations bordering the Pacific Ocean and the island countries situated in it. In the post–World War II era, the Pacific Rim has become an increasingly important and interconnected economic region. , Eastern Europe Eastern Europe The countries of eastern Europe, especially those that were allied with the USSR in the Warsaw Pact, which was established in 1955 and dissolved in 1991. , the Middle East, and Africa. The Company is a leader in the development and commercialization of biochemical bone diagnostic products for the detection and management of metabolic bone diseases and disorders including osteoporosis. Metra is also developing innovative diagnostic instruments using ultrasound technology to evaluate bone architecture. The Company's strategy is to offer a portfolio of tests that will provide physicians with comprehensive clinical information regarding the metabolism of bone and other connective tissues. CONTACT: Colette Andrea Kurt Amundson Debby Dean Metra Biosystems 415-903-9100 or Matt Kuhn Abbott Laboratories 847-937-2993 or Kim Callahan (media inquiries) Clarence Swearngan (investor inquiries) Burns McClellan 212-505-1919 kcallahan@burnsmc.com |
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