ABAXIS Announces Contract Manufacturing Agreement with SA Scientific, Ltd.
13 1월 2009 - 8:00PM
PR Newswire (US)
Company now poised to enter Animal Health Rapid Diagnostics Market
with a Canine Heartworm Antigen Rapid Test Kit UNION CITY, Calif.,
Jan. 13 /PRNewswire-FirstCall/ -- Abaxis, Inc. (NASDAQ:ABAX), a
medical products company manufacturing point-of-care blood analysis
instruments for both the medical and veterinary markets, announced
today that it has signed an agreement with S.A. Scientific for the
manufacturing of a Canine Heartworm Lateral Flow / Rapid Test Kit.
This manufacturing agreement provides Abaxis the opportunity to
expand the Abaxis product portfolio and enter now the veterinary
rapid test diagnostic market. The market for Canine Heartworm tests
in the animal health market is estimated to be $70,000,000 in the
United States alone. "SA Scientific is an outstanding company with
which we have done business with in the past. They have all the
tools, capacity and expertise to manufacture a broad line of rapid
diagnostic, lateral flow devices and we look forward to a long
term, strategic relationship with them" said Clint Severson,
Chairman and Chief Executive Officer. Martin Mulroy, Abaxis Vice
President Marketing and Sales added, "Abaxis has almost 7,000
Animal Health and Research customers in North America pleased with
the level of service and support provided by the company's field
sales, technical service and customer service groups. We look
forward to providing them a high quality / low cost alternative to
competitive products while expanding our market penetration as a
result of this portfolio addition. Our brand is highly respected
and Abaxis is well known for innovative and cost effective
solutions. Upon launch of the VetScan Canine Heartworm Test I
anticipate it too will be widely and rapidly accepted." Dr. Harbi
Shadfan, President of SA Scientific, Ltd., said, "We are excited
about partnering with Abaxis Inc. in developing and manufacturing
lateral-flow rapid diagnostic tests for the veterinary market. They
are well known and respected in this market, and we are anxious to
continue their reputable high quality standard of products in the
veterinary field. We have had a good business association with
Abaxis for several years, and are looking forward to extending this
long term relationship." About Abaxis, Inc. Abaxis develops,
manufactures and markets portable blood analysis systems for use in
any veterinary or human patient-care setting to provide clinicians
with rapid blood constituent measurements. The system consists of a
compact, 5.1 kilogram (11.2 pounds), portable analyzer and a series
of single-use plastic discs, called reagent discs that contain all
the chemicals required to perform a panel of up to 13 tests on
veterinary patients and 14 tests on human patients. The system can
be operated with minimal training and performs multiple routine
tests on whole blood, serum or plasma samples. The system provides
test results in less than 12 minutes with the precision and
accuracy equivalent to a clinical laboratory analyzer. The
veterinary business also provides to the veterinarian and research
market a line of hematology instruments for point of care complete
blood counts (CBC). About SA Scientific, Ltd. SA Scientific is an
FDA and USDA registered and ISO 9001-2000 certified facility that
focuses on research, design, development, and manufacture of an
assortment of One-Step lateral-flow rapid tests based on colloidal
gold technology. They specialize in the fertility, viral and
bacterial infectious diseases, food, environmental and veterinary
fields. Various specimen types are used for these tests such as
blood, serum, urine, and other environmental samples. The company
has developed over 30 different assays for OEM customers, and has
the capabilities of manufacturing custom assays for a wide range of
analytes. This press release includes statements that constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Abaxis claims the
protection of the safe-harbor for forward-looking statements
contained in the Reform Act. Specific forward-looking statements
contained in this press release include, but are not limited to,
risks and uncertainties related to the market acceptance of the
Company's products and the continuing development of its products,
risks associated with manufacturing and distributing its products
on a commercial scale, risks associated with entering the human
diagnostic market on a larger scale, risks involved in carrying of
inventory, risks from unexpected problems or delays in the
Company's manufacturing facility, risks associated with the ability
to attract and retain competent sales personnel, general market
conditions, competition, risks and uncertainties related to its
ability to raise capital in order to fund its operations and other
risks detailed from time to time in Abaxis' periodic reports filed
with the United States Securities and Exchange Commission.
Forward-looking statements speak only as of the date the statement
was made. Abaxis does not undertake and specifically disclaims any
obligation to update any forward-looking statements. Contact: Clint
Severson Lytham Partners, LLC Chief Executive Officer Joe Dorame,
Robert Blum and Joe Diaz Abaxis, Inc. 602-889-9700 510-675-6500
DATASOURCE: Abaxis, Inc. CONTACT: Clint Severson, Chief Executive
Officer of Abaxis, Inc., +1-510-675-6500; or Joe Dorame, Robert
Blum and Joe Diaz of Lytham Partners, LLC, +1-602-889-9700
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