EDITEK SIGNS EXCLUSIVE, WORLDWIDE DISTRIBUTION AGREEMENT WITH PREVENT, INC.
BURLINGTON, N.C., July 12 /PRNewswire/ -- EDITEK, Inc. (AMEX: EDI.EC) reported today that it has signed an exclusive, worldwide distribution agreement with PreVent, Inc. for the sale, marketing and distribution of the PreVent breath alcohol product line. PreVent, Inc. is reputed to be North America's largest manufacturer of on-site disposable breath alcohol tests. These tests consists of small tubes containing chemically treated crystals that change color in the presence of alcohol. The person being tested simply blows through the tube and a color change indicates the blood alcohol level. EDITEK has been a distributor of the PreVent breath alcohol tests for the past several years. The PreVent breath alcohol tests have been marketed in conjunction with the EDITEK on-site drugs of abuse tests to criminal justice. With the signing of this exclusive distribution agreement, EDITEK will now be responsible for all of the sales, marketing and distribution of the PreVent breath alcohol tests including assumption of the responsibility of the existing PreVent customer base including distributors. The initial term of this agreement is for three years with the opportunity for renewal for three year periods. In addition, EDITEK has the option to assume manufacturing responsibilities for the PreVent breath alcohol tests and/or the option to purchase PreVent, Inc. EDITEK will focus its marketing plans to include criminal justice as well as working with existing and possibly new distributors to access other market opportunities including consumer testing domestically and internationally. Current sales levels of the PreVent breath alcohol tests are approximately $500,000. With the continued concern about alcohol consumption, particularly related to drunk driving, the company feels that the market for the PreVent breath alcohol tests will expand dramatically including a significant opportunity for consumer sales whereby individuals can purchase the PreVent breath alcohol test and test themselves prior to taking the wheel of a vehicle. 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- 7/12/93 /CONTACT: Peter Heath, Vice President Finance and Chief Financial Officer, EDITEK, Inc., 919-226-6311/ (EDI)
CO: EDITEK, Inc.; PreVent, Inc. ST: North Carolina IN: MTC SU:
MM -- CH004 -- 0395 07/12/93 11:52 EDT
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|Date:||Jul 12, 1993|
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