ABAX Abaxis, Inc. (delisted)

Company will launch the VetScan(R) VSpro Coagulation Analyzer and VetScan Canine Heartworm Rapid Test at the largest Veterinary Conference in North America UNION CITY, Calif., Jan. 16 /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 will launch the VetScan VSpro Coagulation Analyzer and VetScan Canine Heartworm Rapid Test at the North American Veterinary Conference in Orlando, Florida on Sunday, January 18th. This conference draws veterinarians and veterinary technicians from around the world, and it is expected that over 7,000 veterinary professionals will be in attendance. The VetScan Canine Heartworm rapid test is expected to be the first in a series of rapid, lateral flow tests to be released by Abaxis. The test will provide a simple, accurate, and highly cost-effective option for veterinarians to use for their heartworm testing. The US heartworm market is believed to be greater than $70 million per year. The VetScan VSpro Coagulation Analyzer will allow veterinarians to evaluate PT and aPTT results using a state-of-the-art, in-house / point of care technology. The analyzer will be used in combination with a sophisticated, micro-fluidic technology based cartridge that contains all the reagents necessary to perform PT and aPTT testing. The VetScan VSpro can be combined with the Abaxis VetScan Chemistry and VetScan Hematology instruments to provide veterinarians with a complete clinical picture for critically ill patients, pre-surgical work-ups and for routine wellness exams. Martin Mulroy, Vice President Sales and Marketing commented "We are very excited to add these two new products to the Abaxis product portfolio. These products, used alone or in conjunction with the VetScan Chemistry and VetScan Hematology products, demonstrate Abaxis' commitment to serving the Veterinary and Research community with high quality, innovative, and always cost-effective products. In this challenging economic environment, the marketplace will be looking to decrease costs and add efficiencies, one of the core strengths of the Abaxis product line." Michael Solomon, Director of Business Development added, "The addition of our first rapid diagnostic product along with an innovative micro-fluidic technology for coagulation testing further strengthens the current Abaxis product portfolio while creating the opportunity for future products and accelerated growth." 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). 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. 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, or Robert Blum, or Joe Diaz, all of Lytham Partners, LLC, +1-602-889-9700

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