KINDERHOOK, N.Y.--(BUSINESS WIRE)--Aug. 10, 2006--American Bio Medica Corporation (NASDAQ: ABMC - News) today announced that the US Food and Drug Administration (FDA) has granted the Company 510(k) clearance on its Rapid One® lateral flow immunoassay test for the detection of Buprenorphine. Buprenorphine is semi-synthetic narcotic used in the treatment of narcotics addiction.
Although Buprenorphine is used in addiction treatment cases it is also becoming abused, specifically outside of the United States. In fact, the International Narcotics Control Board reported that in some countries, such as Finland, Buprenorphine has become the most important illicitly used substance for opiate addicts and in some illicit markets, it has almost totally replaced heroin since it is both cheaper and more available than heroin. Black markets for the drug also exist in Great Britain, Germany, and New Zealand, anti-drug experts said.
The Company developed the Buprenorphine test in response to demand from its customers outside of the United States to combat the drug’s abuse, however it can also be used as a detection tool in certain markets within the United States as an aid in the diagnosis, monitoring and treatment of Buprenorphine use.
For more information on ABMC or its drug testing products, please visit www.abmc.com.
About American Bio Medica Corporation
American Bio Medica Corporation is a biotechnology company that develops, manufactures and markets accurate, cost-effective immunoassay diagnostic test kits, including some of the world’s most effective point of collection tests for drugs of abuse. The Company and its worldwide distribution network target the workplace, government, corrections, clinical and educational markets. ABMC’s Rapid Drug Screen®, Rapid One, Rapid TEC®, RDS® InCup® and Rapid TOX(TM) products test for the presence or absence of drugs of abuse in urine, while OralStat® tests for the presence or absence of drugs of abuse in oral fluids. ABMC’s Rapid Reader(TM) is a compact, portable device that, when connected to any computer, interprets the results of an ABMC drug screen, and sends the results to a data management system, enabling the test administrator to easily manage their drug testing program.
This release may contain forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ, and such differences could be material. Such risks and uncertainties include, but are not limited to, the following: continued acceptance of the Company’s products, increased levels of competition in our industry, the acceptance of new products, inherent risks associated with product development and intellectual property rights, the Company’s dependence on key personnel, third party sales and suppliers. There can be no assurance that the Company will be successful in addressing such risks and uncertainties and the Company assumes no duty to update any forward-looking statements based upon actual results. Investors are strongly encouraged to review the section entitled “Risk Factors” in the Company’s annual report on Form 10-KSB for the fiscal year ended December 31, 2005, and quarterly reports on Form 10-QSB on file with the Securities and Exchange Commission for a discussion of risks and uncertainties that could affect operating results and the market price of the Company’s common shares.
Contact: ABMC Stan Cipkowski, 800-227-1243, ext. 106 or BPC Financial Marketing John Baldissera, 800-368-1217
Source: American Bio Medica Corporation
