CAMBRIDGE, Ontario & LAKE SUCCESS, N.Y.--(BUSINESS WIRE)--Nov. 24, 2003--O'Dell Engineering, Ltd. and E-Z-EM, Inc., (AMEX: EZM - News) today announced that the United States Army Medical Research and Acquisition Activity (USAMRAA) has awarded a contract to O'Dell Engineering Ltd. through the Canadian Commercial Corporation for final configuration testing of Reactive Skin Decontamination Lotion (RSDL). RSDL is a personal decontamination lotion for neutralizing and destroying chemical warfare (CW) agents on the skin. Under the terms of the contract, the USAMRAA will purchase limited quantities of RSDL for a series of clinical and operational tests aimed at determining a final configuration for the product. The testing program is a planned follow on to the issuance of 510(k) approval by the U.S. Food and Drug Administration in March of 2003.
Through its subsidiary E-Z-EM Canada, E-Z-EM Inc. is the exclusive global manufacturer of RSDL. O'Dell Engineering and E-Z-EM have an exclusive, long-term partnership agreement to commercialize RSDL under a license from the Canadian Government for sales to military and emergency services organizations worldwide.
RSDL is a liquid decontamination lotion that reacts very rapidly with deadly CW agents, chemically neutralizing them into a non-toxic mix within a matter of seconds. The product is able to neutralize a wide variety of CW agents, and is also being evaluated as a decontaminant for toxins. RSDL may eventually be tested for safety in open wounds. RSDL is currently in use with all service branches of the Canadian Armed Forces, as well as the Armed Forces of Australia, Ireland, and the Netherlands, among others.
Commenting on the announcement, Phil O'Dell, President of O'Dell Engineering, said, "RSDL has been evaluated by the U.S. Military as a replacement for the M291 Skin Decontamination Powder currently in use. RSDL has been found to meet or exceed all of the performance criteria set down in the Foreign Comparative Test program and now we are taking the next step forward. Successful completion of this next phase of testing may lead to the full-scale fielding of RSDL to all branches of the U.S. Military and possibly to wide adoption of RSDL by emergency service organizations in the United States."
Anthony A. Lombardo, President and CEFO of E-Z-EM added, "This contract may represent the beginning of a long-term procurement process of RSDL by the U.S. Military. In these uncertain times, we are delighted with the opportunity to deliver this important product to our military and emergency service personnel."
RSDL was invented by the Defense Research Establishment of the Canadian Department of National Defense. Under the agreement, E-Z-EM Canada assumes the worldwide manufacturing of RSDL, while O'Dell, the exclusive license holder from the Canadian government, is responsible for all sales and marketing efforts to military and emergency service organizations.
For more information, contact Paul Salloum at (514) 353-5820 x205 or psalloum@ezemcanada.com, or visit the E-Z-EM website at www.ezem.com.
About O'Dell Engineering
O'Dell Engineering (www.odell.ca) is the exclusive worldwide supplier to military and emergency services organizations of RSDL under license from the Canadian Armed Forces. O'Dell has commercialized RSDL and, with the ongoing support of the Canadian and U.S. Militaries, has developed the current product configuration for use by military personnel, 1st Responders and civil aid organizations. O'Dell supplies decontamination technology, development, and training in support of their products.
About E-Z-EM, Inc.
E-Z-EM is the world's largest manufacturer of contrast agents for gastrointestinal radiology. The Company has developed the only CT injector on the market that can help detect contrast extravasation, the EmpowerCT® with patented EDA(TM) technology; it also offers a complete product set for the virtual colonoscopy practitioner. This product line consists of virtual colonoscopy hardware, software, nutritional prep kits and bowel cleaners, tagging agents and a carbon dioxide colon insufflation system. E-Z-EM's wholly-owned subsidiary, AngioDynamics, manufactures a wide range of products, including: angiographic, dialysis, PTA dilation, thrombolytic, image-guided vascular access, endovascular laser venous system, as well as abdominal infection drainage products. AngioDynamics' focus is on diagnostic and therapeutic products for interventional radiology and other areas of minimally invasive surgery. For additional information, please contact Tom Johnson at 1-800-544-4624, ext. 3317, (E-mail: tjohnson@ezem.com) or visit our corporate web site at www.ezem.com.
The statements made in this document contain certain forward-looking statements that involve a number of risks and uncertainties. Words such as "expects", "intends", "anticipates", "plans", "believes", "seeks", "estimates," or variations of such words and similar expressions, are intended to identify such forward-looking statements. Investors are cautioned that actual events or results may differ from the Company's expectations. In addition to the matters described above, the ability of the Company to develop its products, market acceptance of virtual colonoscopy as a new imaging procedure, the adoption by the U.S. Military of RSDL, the timing, size and quantity of orders for RSDL, future actions by the FDA or other regulatory agencies, results of pending or future clinical trials, overall economic conditions, general market conditions, market acceptance, foreign currency exchange rate fluctuations, the effects on pricing from Group Purchasing Organizations, competition, including alternative procedures which continue to replace traditional fluoroscopic procedures, as well as the risk factors listed from time to time in the SEC filings of E-Z-EM, Inc., including but not limited to its Form 10-Q for the quarter ended August 30, 2003, as well as its Annual Report on Form 10-K for the year ended May 31, 2003, may affect the actual results achieved by the Company.
Contact:
E-Z-EM Tom Johnson, 516-333-8230, ext. 3317
Source: E-Z-EM, Inc.
