WAYNE, Pa., Dec. 18 /PRNewswire-FirstCall/ -- Escalon Medical Corp.
(Nasdaq Capital Market: ESMC) today announced that its Drew Scientific
subsidiary received 510(k) clearance from the U.S. Food and Drug
Administration (FDA) to market the D3 Hematology System, an automatic
three-part differential Hematology Analyzer. Drew Scientific plans to
commence shipments of the product in the United States by month-end.
"The FDA clearance represents a major step for Drew, as it now provides
two upgraded instruments for sale in fiscal 2008 along with the TRILOGY
Analyzer that was approved in July," said Frank Matuszak, Drew's Vice
President of Sales and Marketing. "For the past twelve months, we have
successfully distributed the D3 System outside of the United States. We
expect that the D3 will be equally well received in the U.S. marketplace."
The D3 Hematology System adds to the Company's wide range of top
quality and leading edge hematology systems. This flexible and easy-to-use
instrument offers simple installation, low maintenance and immediate user
acceptance and productivity. The D3 incorporates advanced technology for
superior reliability of 3-part differential blood analysis. Features
include:
-- Low reagent consumption and very small sample size to minimize
laboratory waste.
-- Advanced user flexibility with easy-to-use built-in color touch screen,
providing on screen histograms and storage of up to 500 records and QC
statistics.
-- Easy installation and user interface with multi-language capability.
For additional information on the D3 Hematology System, please visit
the Drew Scientific web site at http://www.drew-scientific.com.
Doug Nickols, President of Drew Scientific, commented, "FDA clearance
is another important step in the continued development of the D3 Hematology
System. With this advancement and continued growing interest in the D3
System abroad, we expect to accelerate the pace of our analyzer placements
worldwide."
Drew Scientific is a diagnostics company specializing in the design,
manufacture and distribution of instruments for blood cell counting and
blood analysis. Drew Scientific is focused on providing instrumentation and
consumables for the physician office and veterinary office laboratories.
Drew Scientific also supplies the reagent and other consumable materials
needed to operate the instruments.
Founded in 1987, Escalon develops markets and distributes ophthalmic
diagnostic, surgical and pharmaceutical products as well as vascular access
devices. Drew Scientific, which operates as a separate business unit,
provides instrumentation and consumables for the diagnosis and monitoring
of medical disorders in the areas of diabetes, cardiovascular diseases and
hematology, as well as veterinary hematology and blood chemistry. Escalon
seeks to utilize strategic partnerships to help finance its development
programs and is also seeking acquisitions to further diversify its product
line to achieve critical mass in sales and take better advantage of
Escalon's distribution capabilities, although any such partnerships or
acquisitions may not occur. Escalon has headquarters in Wayne, Pennsylvania
and manufacturing operations in Long Island, New York, New Berlin,
Wisconsin, Dallas, Texas, Waterbury, Connecticut and Barrow-in-Furness,
U.K.
Note: This press release contains statements that are considered
forward- looking under the Private Securities Litigation Reform Act of
1995, including statements about the Company's future prospects. They are
based on the Company's current expectations and are subject to a number of
uncertainties and risks, and actual results may differ materially. The
uncertainties and risks include whether the Company is able to
-- implement its growth and marketing strategies, improve upon the
operations of the Company's business units, including the integration
of Drew's and MRP's operations, the reorganization of the Drew business
and the integration of any acquisitions it may undertake, if any, of
which there can be no assurance,
-- implement cost reductions,
-- generate cash,
-- identify, finance and enter into business relationships and
acquisitions. Other factors include uncertainties and risks related to
-- new product development, commercialization, manufacturing and market
acceptance of new products,
-- marketing acceptance of existing products in new markets,
-- research and development activities, including failure to demonstrate
clinical efficacy,
-- delays by regulatory authorities, scientific and technical advances by
Escalon or third parties,
-- introduction of competitive products,
-- third party reimbursement and physician training, and
-- general economic conditions.
Further information about these and other relevant risks and
uncertainties may be found in the Company's report on Form 10-K, and its
other filings with the Securities and Exchange Commission, all of which are
available from the Commission as well as other sources.
SOURCE Escalon Medical Corp.
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Related links:
http://www.drew-scientific.com
CONTACT:
Richard J. DePiano, Chairman and CEO, Escalon
Medical Corp., +1-610-688-6830; or Joseph Calabrese of Financial
Relations Board for Escalon Medical Corp., +1-212-827-3772
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