OraSure Announces New Intercept Drug Testing Partner; Company Also Receives FDA Clearance of Oral Fluid Assays for Barbiturates and Methadone
BETHLEHEM, Pa.--(BW HealthWire)--Jan. 26, 2001--OraSure Technologies, Inc. (Nasdaq:OSUR) today announced that it has signed an agreement with a new lab partner, Bendiner & Schlesinger, Inc., of New York, N.Y., which will offer its Intercept(TM) Oral Fluid Drug Testing Service to the drug rehabilitation market in the New York metropolitan area.
OraSure Technologies will be providing a turnkey solution of oral fluid collection devices and assays to Bendiner & Schlesinger, with annual revenue from this agreement expected to reach over $500,000. The companies expect to have the Intercept service available to clients beginning March, 2001.
Additionally, the Company announced that it has received FDA clearance for its Intercept(TM) Barbiturates and Methadone MICRO-PLATE EIA (enzyme immunoassay) for use in the qualitative determination of these drugs in oral fluid specimens, which will be available as part of the Intercept drug test panel that also screens for opiates, cocaine, PCP, marijuana, amphetamines and benzodiazipines. These new assays are important additions to the testing menu for Intercept, and are commonly required by drug rehabilitation customers.
"We are very pleased about this agreement with Bendiner and Schlesinger, which represents an important new market opportunity for OraSure and signals a wider acceptance of oral fluid drug testing," said Robert D. Thompson, Chief Executive Officer of OraSure Technologies. "Armed with our recent FDA clearances for our Intercept products, OraSure is in an excellent position to meet the demand of the high volume drug rehabilitation industry. We are working diligently to penetrate the drug rehabilitation and criminal justice markets, which represent substantial opportunities for oral fluid drug testing."
Bendiner & Schlesinger Incorporated is one of the oldest and most respected drug testing labs in the country, providing testing services to methadone treatment centers and drug rehabilitation programs across the U.S. They have more than 30 years of experience in meeting the needs of the drug rehabilitation market. "Our laboratory sees significant growth prospects for the Intercept Testing Service and we are excited about our new partnership with Orasure Technologies," said Peter Stein, Executive Vice President of Bendiner and Schlesinger, Inc.
Dr. Beny Primm, a leading public health physician and Executive Director of one of New York's largest drug rehabilitation programs, Addiction Research and Treatment Center (ARTC), and a major client of Bendiner & Schlesinger, stated, "I consider Intercept oral fluid testing to be superior to other methods because it reduces the risk of adulteration, streamlines the collection process, and enables counselors -- instead of security personnel -- to perform collections. I expect this increased contact between counselors and clients to enhance the nature of that relationship and to improve overall program outcomes."
About OraSure Technologies
OraSure Technologies, Inc. develops, manufactures and markets medical devices and diagnostic products for use by public- and private-sector clients, clinical laboratories, physicians' offices and workplace testing. OraSure Technologies is the leading supplier of oral fluid collection devices and assays to the life insurance industry and public health markets for the detection of antibodies to HIV. In addition, the company supplies oral fluid testing solutions for drugs-of-abuse testing. For more information on the company please, go to www.orasure.com.
About Bendiner & Schlesinger
Founded as a pharmaceutical house in 1843, Bendiner & Schlesinger, Inc., first began performing laboratory testing in 1902, making it one of the nations oldest and most well respected laboratory service providers. Bendiner & Schlesinger employs more than 100 people at its state of the art facility in New York City. For more information on the company, please go to www.bendiner.com.
About ARTC
The Addiction Research and Treatment Corporation (ARTC) was organized in 1969 to deal with the unique problems of the minority group addict. ARTC is a non-for-profit organization which is certified by the New York State Office of Alcoholism and Substance Abuse Services (OASAS). ARTC's treatment component is designed to service the hard-core heroin addict in the inner-city communities of New York City, and its objective is to help patients become independent, responsible citizens and engage in a variety of meaningful activities.
This press release contains certain forward-looking statements including with respect to revenues product availability and markets. Actual results could be significantly different. Factors that could affect results include loss of key personnel; failure to comply with regulations of the FDA or other regulatory agencies; obstacles to international marketing of products; loss or impairment of sources of capital; ability to develop product distribution channels; ability to develop new products; development of competing products; market acceptance of oral fluid testing products; and changes in international, federal or state laws or regulations. These factors are discussed more fully in the Securities and Exchange Commission (SEC) filings of OraSure Technologies, including the Registration Statement on Form S-4 filed with the SEC on August 31, 2000 and Quarterly Report on Form 10-Q for the quarter ended September 30, 2000 and in the Epitope, Inc. Annual Report on Form 10-K for 1999. Although forward-looking statements help to provide complete information about future prospects, readers should keep in mind that forward-looking statements may not be reliable. The forward-looking statements are made as of the date of this press release and Orasure Technologies undertakes no duty to update those statements.
CONTACT:
OraSure
Rich Hooper, 610/882-1820 (VP Finance)
or
Michelle Sells, 503/641-6115 (Investor Relations)
investorinfo@orasure.com
www.orasure.com
