SUNNYVALE, Calif., June 30 /PRNewswire/ -- Biocircuits Corporation
(Nasdaq: BI0C) announced today that the Company has signed a letter of intent
to enter into an agreement with the Microbiology Systems Division of Becton
Dickinson and Company. The agreement, when finalized and executed, will give
Becton Dickinson exclusive world wide marketing rights to the IOS(R) system
and all cartridges currently available as well as those that will be developed
in the future. It is also anticipated that Becton Dickinson will assume the
responsibility for manufacturing of the IOS(R) instrument in 1998.
Biocircuits will continue to manufacture cartridges for transfer to Becton
Dickinson as well as developing new test cartridges.
"This Agreement presents an exciting opportunity for Biocircuits to
partner with a large diagnostic company," said John Kaiser, President and CEO
of Biocircuits. "Becton Dickinson currently markets a number of synergistic
diagnostic systems and easy to use tests to the same end user and through the
same distribution channels currently employed by Biocircuits. With their much
larger sales force and strong presence in the market place, market penetration
of the IOS(R) system should be significantly enhanced."
The IOS(R) system is the first immunoassay system developed with the ease
of use and cost characteristics necessary for use in the approximately 36,000
moderately complex licensed physician office laboratories.
"The ease of use of the IOS(R) System should make it ideal for the
physician office lab," said Vincent Forlenza, President of the Microbiology
Systems Division. "We look forward to a productive relationship with
Biocircuits."
Becton Dickinson and Company sells a broad range of medical supplies and
devices for use by health care professionals, medical research institutions
and the general public.
Actual results may differ materially from the above forward-looking
statements due to a number of important factors, and wi11 be dependent upon
the Company's ability, directly or through third parties, to successfully
manufacture and market its existing and proposed products, as well as the
timely development and regulatory approval of additional products. These
factors are more fully discussed in the Company's most recent report on Form
10-K. Further, since the letter of intent with Becton Dickinson is not
legally binding there can be no assurance that a final agreement will be
negotiated and finalized.
SOURCE Biocircuits Corporation
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CONTACT: John Kaiser, President & CEO, Biocircuits Corporation, 408-752-8706
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