ABAX Abaxis, Inc. (delisted)

UNION CITY, Calif., Dec. 27, 2011 /PRNewswire/ -- Abaxis, Inc. (NasdaqGS: ABAX), a medical products company manufacturing point of care instrumentation and consumables to the medical, research and veterinary markets, announced today its Abaxis Veterinary Reference Laboratories (AVRL) Division, based in Olathe, Kansas, is now offering a quantitative antibody test for canine Lyme disease. The new canine Lyme test invented and developed by Abaxis, Inc., measures a combination of antibodies to peptides which mimic certain antigens of the Borrelia burgdorferi spirochete. These antibodies are not found in vaccinated or non-infected patients.

Dr. Kenneth Aron, Chief Technology Officer at Abaxis, commented, "We have utilized advances in peptide chemistry and immunology to design a robust laboratory-based test that can distinguish an active Lyme infection from immunity based on vaccination. These advances allow a definitive diagnosis which is required for reference laboratory performed confirmation test."

The new quantitative Lyme test can be used as a standalone diagnostic test to determine infection status or efficacy of treatment. It can also be used as a quantitative confirmation test for the soon to be released VetScan Lyme Rapid Test which is currently under development.

Mark Patterson, President of AVRL added, "The Lyme quantitative antibody test is an exciting addition to the more than 500 tests that are already offered at our new, state of the art facility. It is also a great example of how the Abaxis point-of-care products are complemented by the full service laboratory that we have developed. The Lyme quantitative antibody test is the first of what we expect to be many new and unique assays for the veterinary community."

About Abaxis

Abaxis develops, manufactures, markets and sells 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 animal health and research market a line of hematology instruments for point-of-care complete blood counts (CBC), a specialty instrument to screen for and detect clotting disorders and to measure equine fibrinogen levels, a handheld instrument for the rapid assessment of certain critical care tests and rapid point-of-care tests for Heartworm infections in dogs, Parvovirus and Giardia.  Abaxis, through its AVRL Division, provides routine laboratory testing as well as specialty testing for veterinarians nationwide.  This state-of-the-art commercial laboratory will be the hub of the Abaxis Veterinary Reference Laboratories (AVRL).

This press release includes, statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"), including but not limited to statements related to Abaxis' cash position, financial resources and potential for future growth, market acceptance and penetration of new or planned product offerings, and future recurring revenues and results of operations.  Abaxis claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act.  These forward-looking statements are often characterized by the terms "may," "believes," "projects," "expects," "anticipates," or words of similar import, and do not reflect historical facts.  Specific forward-looking statements contained in this press release or in Abaxis' conference call may be affected by risks and uncertainties, including, but not limited to, those related to losses or system failures with respect to Abaxis' facilities or manufacturing operations, fluctuations in quarterly operating results, dependence on sole suppliers, the market acceptance of Abaxis' products, the continuing development of its products and the Abaxis Veterinary Reference Laboratories, required United States Food and Drug Administration clearance and other government approvals, risks associated with manufacturing and distributing its products on a commercial scale free of defects, risks related to the introduction of new instruments manufactured by third parties, risks associated with competing in the human diagnostic market, risks related to the protection of Abaxis' intellectual property or claims of infringement of intellectual property asserted by third parties, risks related to condition of the United States economy and other risks detailed under "Risk Factors" in Abaxis' Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2011 and Abaxis' other periodic reports filed from time to time with the United States Securities and Exchange Commission.  Forward-looking statements speak only as of the date the statements were made.  Abaxis does not undertake and specifically disclaims any obligation to update any forward-looking statements.

SOURCE Abaxis, Inc.