FOR IMMEDIATE RELEASE: Global Deal Further Expands ABMC's Product Portfolio for Substance Abuse Testing KINDERHOOK, N.Y. -- June 19, 2024 -- American Bio Medica Corporation (NASDAQ: ABMC) today announced that it has signed a global agreement with ChemProbe, Inc. that will allow ABMC to exclusively market alcohol test strips in specific markets and market adulterant detection strips developed by ChemProbe. These test strips offer on-site detection capabilities in a compact, cost-effective format. The alcohol test strip consists of a plastic holder 6 mm x 76 mm in size, with a reagent pad affixed to the test. The patented technology in the strip allows for the detection of alcohol in various concentrations in saliva or urine samples. ABMC plans to market the alcohol test under the exclusive trade name, Rapid AlcoTec(TM). The adulterant strip is 6 mm by 155 mm, containing six reagent pads capable of detecting the presence of adulterants commonly used to "beat" drug tests (including creatinine and glutaradehyde), or capable of detecting characteristics in a urine sample that would suggest tampering with the sample has taken place. Through this agreement, ABMC hopes to further bolster its portfolio of substance abuse testing products in order to meet the increasingly specialized needs of various markets. The agreement with ChemProbe will allow ABMC to market these strips to criminal justice, workplace, and health care markets on a global basis. "We are aggressively expanding our capabilities in terms of the products we offer customers, both through development of our own proprietary technologies, and partnerships with companies that have already created viable solutions," said Gerald A. Moore, chairman and chief executive officer of ABMC. "In this case, ChemProbe has created two very functional testing technologies that offer immediate market potential. There is a need for simplified alcohol testing strips for use with urine or saliva samples, and clearly adulterant use is a concern that drug testing programs want to address." For more information on ABMC 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 on-site drugs of abuse tests. 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® and Rapid Tec Cup 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 saliva. ABMC was recently named among the 2002 Deloitte & Touche Technology Fast 500, a listing of the fastest-growing technology companies in North America. 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. 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, 2002, 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: American Bio Medica Corporation Gerald A. Moore, 800/227-1243 Fax: 518/758-8171 gmoore@abmc.com www.abmc.com
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