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ABAXIS Announces Co-Promotion Agreement With Synbiotics
Corporation
UNION CITY, Calif., July 9 /PRNewswire-FirstCall/ -- ABAXIS, Inc.
(NASDAQ:ABAX), a medical products company manufacturing point-of-care blood
analysis systems, announced today that it has entered into a Co-Promotion
Agreement with Synbiotics Corporation (OTC:SBIO) (BULLETIN BOARD: SBIO) . The
two companies are offering incentives to veterinary clinics currently utilizing
both the Witness(R) HW canine heartworm antigen test and the VetScan(R)
in-clinic chemistry analyzer, as well as any new customers that purchase both
products during the co-promotion period. The co-promotion begins on July 12,
2004 and will be available to all qualified veterinary practices in the United
States.
"Synbiotics is pleased to be part of such a strong promotion that rewards
current and future loyal customers of both Witness(R) HW and VetScan(R)," said
Kent Luther, Vice President of Sales and Marketing at Synbiotics. "This
agreement will increase the awareness and market share of Witness(R) HW through
the promotion by ABAXIS' direct sales force and strong distributor alliances."
"We are enthusiastic about the alliance between the VetScan(R) and Witness(R)
HW product lines and believe this co-promotion will solidify customer loyalty
for both companies," states Richard Schoen, Vice President of Sales and
Marketing at ABAXIS. "We are proud to be partnering with a company who
manufactures a complimentary product with quality and value comparable to the
VetScan(R)."
ABAXIS develops, manufactures and markets portable blood analysis systems for
use in any patient-care setting to provide clinicians with rapid blood
constituent measurements. The system consists of a compact, 6.9 kilogram,
portable analyzer and a series of 8-cm diameter single-use plastic disks,
called rotors or reagent discs that contain all the reagents necessary to
perform a fixed menu of tests. The system can be operated with minimal training
and perform multiple tests on whole blood using either venous or fingerstick
samples. The system provides test results in less than 14 minutes with the
precision and accuracy equivalent to a clinical laboratory. For information on
ABAXIS and its products, visit the Company's website at http://www.abaxis.com/.
Synbiotics Corporation develops, manufactures and markets veterinary
diagnostics and related products for the veterinary practice, veterinary
laboratory and livestock & poultry markets worldwide. Headquartered in San
Diego, California, Synbiotics develops, manufactures and distributes its
products through its operations in San Diego, California, and Lyon, France. For
information on Synbiotics and its products, visit the Company's website at
http://www.synbiotics.com/.
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.
DATASOURCE: ABAXIS, Inc.
CONTACT: Clint Severson, Chief Executive Officer of ABAXIS, Inc.,
+1-510-675-6500; or Joe Dorame or Joe Diaz, +1-480-675-0400, both of RCG
Capital Markets Group for ABAXIS, Inc.
Web site: http://www.abaxis.com/