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Ivax Diagnostics Increases Product Line
4/2/2010
 
IVAX DIAGNOSTICS INCREASES PRODUCT LINE THROUGH DISTRIBUTION AGREEMENT WITH BIOMERICA - Adds Unique Rapid Point-of-Care Tests and 33 New  ELISA Test Kits to be Sold by Diamedix in the U.S. and Delta Biologicals in Global Markets.

MIAMI, FL and IRVINE, CA, April 2nd, 2010 – IVAX Diagnostics, Inc. (AMEX: IVD), a fully integrated in vitro diagnostics company, and Biomerica, Inc. (OTC.BB: BMRA), a global biomedical company, have signed a two-year agreement for the distribution of Biomerica’s products in the U.S. and globally, with certain country and product exclusions.

The agreement provides IVAX Diagnostics the rights for its Diamedix Corporation and Delta Biologicals S.r.l. subsidiaries to distribute Biomerica’s suite of products which includes 33   ELISA (Enzyme-Linked Immunosorbent Assay) test kits in the areas of diabetes, gastrointestinal disease and bone/mineral disorders, and more than 26 Rapid Point-of-Care tests. The products will be marketed under the Biomerica name,  or, if certain initial sales levels are achieved, under the Diamedix brand in the U.S. and Delta Biologicals brand internationally.

Dr. Charles Struby, CEO and President of IVAX Diagnostics, said, “This agreement with Biomerica is expected to not only broaden and enhance our ELISA suite of products by adding GI, diabetes and bone/mineral testing products to our line of autoimmune test kits, but it also expands our entry into the Rapid Point-of-Care testing market, a global market that is estimated to be $10.3 billion. Biomerica’s products will significantly enhance  our ability to offer unique and innovative tests to the approximately 600 installed Mago® instruments that are being used by our customers. This agreement is another step toward our goal of expanding our innovative diagnostics products, and increasing our presence in both the U.S. and international markets.  We are pleased to be working with Biomerica and bringing their novel tests to the marketplace.”

Zackary Irani, CEO of Biomerica, said, “IVAX’s customer base of nearly 600 installed Mago® instruments offers both our companies a significant opportunity to increase sales.   As our tests complement those already sold by Diamedix and Delta Biologicals, we believe their experienced sales forces and ability to reach global markets, will produce positive results.”

About Biomerica , Inc.
Biomerica, Inc. (www.biomerica.com) is a global biomedical company that develops, manufactures and markets advanced diagnostic products used at the point-of-care (in home and in physicians’ offices ) and in hospital/clinical laboratories for the early detection of medical conditions and diseases.  The Company’s products are designed to enhance the health and well being of people, while reducing total healthcare costs.  Biomerica primarily focuses on products for diabetes, gastrointestinal disease and esoteric testing.

About IVAX Diagnostics, Inc.
IVAX Diagnostics, Inc. (www.ivaxdiagnostics.com), headquartered in Miami, Florida, is a fully integrated in vitro diagnostics company that develops, manufactures and distributes in the United States and internationally, proprietary diagnostic reagents, test kits and instrumentation, primarily for autoimmune and infectious diseases, through its three subsidiaries: Diamedix Corporation, Delta Biologicals S.r.l. and ImmunoVision, Inc.

The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Biomerica) contains statements that are forward-looking; such as statements relating to intended launch dates, sales potential, significant benefits, market size, growth of business, favorable positions, expansion, expected orders, leading market positions, anticipated future revenues or production volume of the Company, success of product and new product offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of Biomerica. The potential risks and uncertainties include, among others, fluctuations in the Company’s operating results due to its business model and expansion plans, downturns in international and or national economies, the Company’s ability to raise additional capital, the competitive environment in which the Company will be competing, and the Company’s dependence on strategic relationships. The Company is under no obligation to update any forward-looking statements after the date of this release.