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INNOVET ACQUIRES DRA & ASSOCIATES; DRA REACHES AGREEMENT WITH WEIDER TO DEVELOP AND MARKET DIAGNOSTICS FOR FITNESS AND SPORTS NUTRITION MARKET

INNOVET ACQUIRES DRA & ASSOCIATES; DRA REACHES AGREEMENT WITH WEIDER TO DEVELOP AND MARKET DIAGNOSTICS FOR FITNESS AND SPORTS NUTRITION MARKET
 BOCA RATON, Fla., April 27 /PRNewswire/ -- InnoVet, Inc. (NASDAQ: IVET) has completed agreements to purchase DRA & Associates (formerly BioQuest Inc.) of Lenexa, Kan.
 DRA & Associates develops and markets diagnostic test strips for fitness, sports nutrition and veterinary medicine applications.
 "With this strategic acquisition, InnoVet has entered the rapidly growing veterinary and human diagnostics business," said Jesse W. Houdeshell, D.V.M., president of InnoVet, Inc. "This acquisition also gives InnoVet a presence in the expanding fitness and sports nutrition market," said Houdeshell.
 DRA & Associates has entered into a multi-year agreement with Weider Health Organization, the nation's largest sports nutrition company, with annual sales in excess of $50 million, to manufacture sports diagnostics -- which are expected to generate $1 million to $3 million in sales annually for DRA & Associates.
 A patented diagnostic test for home use, the test strips measure nitrogen excretion. By measuring nitrogen excretion, body builders and athletes can tell whether they are in an anabolic state and are capable of building muscle, or in a catabolic state in which muscle is broken down.
 Weider said it plans to market the test strips within a coordinated marketing program which includes a system of nutritional supplements and training/workout programs.
 Use of the test strips over a period of time can also enable body builders and athletes to:
 -- Extend the anabolic state;
 -- Adjust the length and intensity of their workouts for maximum muscle growth;
 -- Time nutritional supplements to maximize muscle growth.
 DRA & Associates has also entered into a five-year research and development agreement with Advanced Bio-Tech of Martinez, Calif., for the development of additional diagnostics for the sports nutrition market.
 InnoVet, headquartered in Boca Raton, is dedicated to the research, development and marketing of innovative pharmaceutical and biological products to address the needs of the human health and animal health and agriculture markets.
 /delval/
 -0- 4/27/92
 /CONTACT: Diane LeBas or Lois Kaufman, 609-683-9055, both of INFOCUS, or Robert Fuchs of Sunrise Financial Group, 212-593-6483, all for InnoVet/
 (IVET) CO: InnoVet, Inc.; DRA & Associates ST: Florida, Kansas IN: MTC SU: TNM PDT


MP-LJ -- PH008 -- 2993 04/27/92 09:37 EDT
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Publication:PR Newswire
Date:Apr 27, 1992
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