American Biogenetics' Chairman Encourages Review of U.S. Patent Law; Lauds Programs of Global Scientific Network to Accelerate Discovery

Remarks Made During Keynote Address

At International Immunology Conference



Apr 15, 2001, 01:00 ET from American Biogenetic Sciences, Inc.

    COPIAGUE, N.Y., April 15 /PRNewswire/ --
 American Biogenetic Sciences, Inc. (Nasdaq:   MABA) (ABS) today announced that
 its chief executive chided Federal lawmakers about not moving fast enough with
 new legislation to bring U.S. Patent law out of the Dark Ages and into the new
 world of "lightening-fast innovation."
     Alfred J. Roach, chairman and CEO of ABS, a Long Island-based biosciences
 company, today told scientists attending an international medical conference
 at New York's Marriott Marquis Hotel that the U.S. should take a page from
 Canadian patent law and require U.S. patent holders to license their
 inventions to others at a fair price.
     "We can't afford to let old laws stymie innovation, to block a major
 advance that must rely on an existing patent," he said.  "It puts an
 artificial tourniquet on the flow of new discovery."
     The Easter Sunday talk was the keynote address of the plenary session of
 the International Congress "Allergy, Immunology And Global Network: Insight
 Into The New Millennium (April 14-17, New York).
     Mr. Roach described the Global Scientific Network which his firm sponsors
 as a proven model for the rapid sharing of scientific discovery from around
 the world.  "We help the inventors wend their way through the thicket of
 patent office mandates that discourage early sharing of ideas in public
 forums," he said.  "We like it if things move fast -- so new ideas leverage
 off the latest discoveries."
     The 85-year-old entrepreneur, who has raised well over $500 million for
 various business startups, stressed the importance of "co-creativity" between
 scientists of different disciplines and the trust required between scientists
 and business people, even though "business people often find scientists
 difficult and frustrating."
     He cited a new drug candidate the company licensed to Abbott Laboratories
 as an example of scientific co-creativity nurtured by the Global Scientific
 Network.  In this case a German medicinal toxicologist developed, what
 analysts say could be a multi-billion dollar replacement for one of Abbott's
 best selling drugs.  The German toxicologist and an Irish neurologist teamed
 to work on a second compound, which shows high promise for treating
 Alzheimer's disease.
     American Biogenetic Sciences, Inc., based in Copiague, N.Y., researches
 and develops diagnostic tests for cardio-pulmonary conditions and infectious
 diseases, as well as for new treatments for neurological disorders including
 epilepsy, migraine, mania, Parkinson's disease and Alzheimer's disease.
 
     Statements in this press release that are not strictly historical are
 "forward-looking" statements within the meaning of the Private Securities
 Litigation Reform Act of 1995, and should be considered as subject to various
 risks and uncertainties that could cause actual results to differ materially
 from those anticipated, including the risk that its products may not be
 commercialized.  For further details and a discussion of these risks and
 uncertainties, see the Company's Securities and Exchange Commission filings
 including its annual report on Form 10-K.
 
     For a complete analysis of the ABS' pipeline go to:
 http://www.mabxa.com/research.html.
 
 

SOURCE American Biogenetic Sciences, Inc.
    COPIAGUE, N.Y., April 15 /PRNewswire/ --
 American Biogenetic Sciences, Inc. (Nasdaq:   MABA) (ABS) today announced that
 its chief executive chided Federal lawmakers about not moving fast enough with
 new legislation to bring U.S. Patent law out of the Dark Ages and into the new
 world of "lightening-fast innovation."
     Alfred J. Roach, chairman and CEO of ABS, a Long Island-based biosciences
 company, today told scientists attending an international medical conference
 at New York's Marriott Marquis Hotel that the U.S. should take a page from
 Canadian patent law and require U.S. patent holders to license their
 inventions to others at a fair price.
     "We can't afford to let old laws stymie innovation, to block a major
 advance that must rely on an existing patent," he said.  "It puts an
 artificial tourniquet on the flow of new discovery."
     The Easter Sunday talk was the keynote address of the plenary session of
 the International Congress "Allergy, Immunology And Global Network: Insight
 Into The New Millennium (April 14-17, New York).
     Mr. Roach described the Global Scientific Network which his firm sponsors
 as a proven model for the rapid sharing of scientific discovery from around
 the world.  "We help the inventors wend their way through the thicket of
 patent office mandates that discourage early sharing of ideas in public
 forums," he said.  "We like it if things move fast -- so new ideas leverage
 off the latest discoveries."
     The 85-year-old entrepreneur, who has raised well over $500 million for
 various business startups, stressed the importance of "co-creativity" between
 scientists of different disciplines and the trust required between scientists
 and business people, even though "business people often find scientists
 difficult and frustrating."
     He cited a new drug candidate the company licensed to Abbott Laboratories
 as an example of scientific co-creativity nurtured by the Global Scientific
 Network.  In this case a German medicinal toxicologist developed, what
 analysts say could be a multi-billion dollar replacement for one of Abbott's
 best selling drugs.  The German toxicologist and an Irish neurologist teamed
 to work on a second compound, which shows high promise for treating
 Alzheimer's disease.
     American Biogenetic Sciences, Inc., based in Copiague, N.Y., researches
 and develops diagnostic tests for cardio-pulmonary conditions and infectious
 diseases, as well as for new treatments for neurological disorders including
 epilepsy, migraine, mania, Parkinson's disease and Alzheimer's disease.
 
     Statements in this press release that are not strictly historical are
 "forward-looking" statements within the meaning of the Private Securities
 Litigation Reform Act of 1995, and should be considered as subject to various
 risks and uncertainties that could cause actual results to differ materially
 from those anticipated, including the risk that its products may not be
 commercialized.  For further details and a discussion of these risks and
 uncertainties, see the Company's Securities and Exchange Commission filings
 including its annual report on Form 10-K.
 
     For a complete analysis of the ABS' pipeline go to:
 http://www.mabxa.com/research.html.
 
 SOURCE  American Biogenetic Sciences, Inc.

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