Press Releases

AMERICAN BIOGENETIC SCIENCES NAMED FASTEST GROWING COMPANY IN THE 2000 LONG ISLAND TECHNOLOGY FAST 50

Copiague, New York, September 27, 2000 - American Biogenetic Sciences, Inc. (ABS) (NASDAQ: MABA) received the award as one of the leading technology innovators on Long Island and was ranked as the number one company among Deloitte & Touche's, "2000 Long Island Technology Fast 50" for the years 1995-1999. The company was recognized for its outstanding innovative strides and strategic initiatives in drug development and medical technology.

Commenting on the award, ABS founder and chairman Alfred J. Roach said, "This accomplishment reflects the company's, its employees, and officers hard work in bringing our business plan to this point. This was an unexpected and delightful surprise."

Commenting further, Mr. Roach said, "Occasionally, remarkable gains in valuation for biotech equities occur once a firm achieves significant momentum based on a series of sound scientific and strategic advances. Our record in the first months of the year 2000 certainly suggests that is happening at ABS."

Since January of this year, ABS has reported the following achievements:

January 27: Abbott Laboratories and ABS signed an exclusive agreement to license development and marketing of ABS's neurological compound, ABS-103, for treating central nervous system disorders.

February 3: A research report done at New York University and presented at a medical conference in Florida indicated an ABS diagnostic test may give clinicians a new tool in the early diagnosis of pregnant women at risk for pre-eclampsia, a life threatening form of high blood pressure that occurs during pregnancy accompanied by protein in the urine and edema.

February 10: ABS received $3 million from the Biotechnology Value Fund, LLP. The investment involved the issuance of a series A of Preferred Stock and validated the value in ABS's portfolio of technologies and products.

March 7: ABS announced it would make available its patented enabling technology -- the antigen-free mouse colony -- to pharmaceutical and biotechnology companies who wish to utilize this unique resource for monoclonal antibody production.

March 22: ABS announced it is seeking a partner to humanize the company's patented anti-fibrin monoclonal antibody MH-1. MH-1 has multiple therapeutic applications in the management of thrombosis and as a potential cancer therapeutic delivery system.

May 4: ABS and Trevigen announced that their collaboration generated a new way to measure DNA damage.

June 5: ABS instituted a program to accelerate development of ABS-205 for treatment of Alzheimer's Disease, by developing ABS-205 as a single isomer.

July 13: ABS signed a five year extension to its research program at University College, Dublin, Ireland. The program focuses on the acceleration of ABS's compound for the treatment of Alzheimer's disease and expanding the product pipeline of compounds to treat neurological disorders.

July 19: A clinical article recently published in the journal Blood Coagulation Fibrinolysis reported ABS's diagnostic Thrombus Precursor Protein (TpP) demonstrated 100% sensitivity and negative predictive value for evaluating proximal deep vein thrombosis and pulmonary embolism.

About American Biogenetic Sciences, Inc.:

American Biogenetic Sciences, Inc., based in Copiague, N.Y., researches and develops diagnostic tests for cardio-pulmonary conditions and infectious diseases, as well as new treatments for neurological disorders including epilepsy, migraine, mania, Parkinson's disease and Alzheimer's disease.

About Deloitte & Touche:

Deloitte & Touche, one of the nation's leading professional services firms, provides assurance and advisory, tax, and management consulting services through over 30,000 people in more than 100 U.S. cities. Deloitte & Touche is part of Deloitte Touche Tohmatsu, one of the world's leading professional services firms, with more than 90,000 people in over 130 countries. For more information, please visit Deloitte & Touche's web site at www.us.deloitte.com.

Statements in this release that are not strictly historical are "forward looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, and should be considered as subject to various risks and uncertainties that could cause actual results to differ materially from those anticipated. For further details and a discussion of these risks and uncertainties, see the Companys' Securities and Exchange Commission filings including its annual report on Form 10-K.

 

 


American Biogenetic Sciences, Inc. 2000