Abaxis, Inc. Announces Launch of Canine Lyme Disease In Office Rapid Test

UNION CITY, Calif., Feb. 21, 2012 /PRNewswire/ -- Abaxis, Inc. (NasdaqGS: ABAX), a medical products company manufacturing point of care instruments and consumables to the medical, research, and veterinary markets, and reference laboratory services to the veterinary and research markets, announced today the launch of the VetScan Canine Lyme Rapid Test for the detection of Borrelia burgdorferi antibodies in canine blood samples. The test was launched at the Western Veterinary Conference being held in Las Vegas, Nevada February 19-22, 2012. The Canine Lyme Rapid Test is the only single assay rapid test on the market, allowing the veterinarian to offer accurate, flexible and cost-effective Lyme testing options to their clients.

The new Canine Lyme test can be used in conjunction with the quantitative Lyme assay offered at Abaxis Veterinary Reference Laboratories in Olathe, Kansas. If Canine Heartworm testing is also indicated, the Lyme rapid test can be used alongside the VetScan Canine Heartworm Rapid Test or the Canine Wellness Profile that includes a heartworm test, processed by the VetScan VS2 analyzer.

Michael Solomon, Director of Business Development of Abaxis commented "The Abaxis VetScan Lyme Rapid Test is a very sensitive and highly specific lateral flow assay, with positive results often in a matter of minutes, and definitive negative results in only eight minutes."

"The addition of the VetScan Canine Lyme Rapid Test represents an important addition to our rapid test product line. By offering a complete line of accurate, easy to use, flexible, and cost effective products, the veterinarian is able to offer comprehensive and medically appropriate diagnostic services to their clients in clinic. Abaxis will continue to develop and provide these types of diagnostic solutions for the veterinary market." added Martin Mulroy, Vice President of Sales and Marketing for North American Animal Health of Abaxis.

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 and services, the continuing development of its products, 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 September 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.