NeoPath signs UniLab as new customer for the AutoPap 300 QC System.REDMOND, Wash.--(BUSINESS WIRE)--Dec. 27, 1996--NeoPath 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 :NPTH NPTH Non-Plated Through-Hole (PCB (printed circuit board manufacturing) ) today announced that it has signed an agreement with UniLab Corporation to install 13 AutoPap 300 QC Systems in Jan. 1997, at its Tarzana, Calif. facility. NeoPath's AutoPap System will be integrated into 100 percent of the laboratory's quality control procedure, representing a Pap smear Pap smear or Papanicolaou smear Sample of cells from the vagina and cervix of the uterus for laboratory staining and examination to detect genital herpes and early-stage cancer, especially of the cervix. Developed by the Greek-born U.S. volume of approximately 500,000 slides per year. "We are excited about merging the AutoPap 300 QC System into our laboratory's quality assurance process," said Dr. Paul Wertlake, medical director, UniLab Corp. " We are further convinced of the economic value of this product, both in the short term and for long term health care." UniLab Corp. is one of the largest laboratories in the United States and processes in excess of a million pap smears annually at multiple locations. NeoPath hopes to expand this initial contract to serve all of UniLab's U.S. operations. "The agreement with UniLab Corp. demonstrates continued customer confidence in the AutoPap 300 QC product," said Dr. Alan C. Nelson, president and chief executive officer of NeoPath Inc. "We are pleased that another large clinical laboratory has selected NeoPath in support to improve their quality assurance efforts." The AutoPap System, developed by NeoPath is a medical device that integrates proprietary high-speed image processing computers, video imaging technology and sophisticated image interpretation software to capture and analyze the thousands of microscopic images from a Pap smear slide. The U.S. Food and Drug Administration granted NeoPath PMA PMA (papillary-marginal-attached), n a system of epidemiologic scoring of periodontal disease devised by Schour and Massler in which the symbols denote the areas involved in gingival inflammation. PMA Progressive muscular atrophy approval to market the AutoPap System on Sept. 29, 1995. In March 1996 NeoPath received HCFA HCFA abbr. Health Care Financing Administration HCFA, n.pr See Health Care Financing Administration. approval for the AutoPap System to be used in the quality control rescreening of pap smear slides. Pap smears are the standard screening test for the early detection of precancerous precancerous /pre·can·cer·ous/ (-kan´ser-us) pertaining to a pathologic process that tends to become malignant. pre·can·cer·ous adj. conditions and cervical cancer Cervical Cancer Definition Cervical cancer is a disease in which the cells of the cervix become abnormal and start to grow uncontrollably, forming tumors. . The AutoPap System rescreens Pap smear slides initially classified as "normal" by trained cytotechnologists. Clinical trials showed the device improves the detection rate of "false negatives" in Pap smear testing in U.S. clinical laboratories, thus increasing the ability to identify early signs of cervical cancer. NeoPath Inc. developed the AutoPap System in pursuit of its goal to help eradicate cervical cancer worldwide. The company's core expertise is in the research, development and commercialization of technologies to automate the interpretation of medical images. The company, with headquarters in Redmond, has approximately 180 employees. -0- Forward-looking statements in this release are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements are subject to certain risks and uncertainties, including without limitation, product and manufacturing regulatory approval; the company's limited manufacturing, marketing, customer service and support capabilities; the company's sole or limited source of supply of certain components; the status of competing products; and other risks and uncertainties detailed in the company's filings with the Securities and Exchange Commission. CONTACT: NeoPath Inc. Stacie D. Byars, 206/556-3050 |
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