SCIENCES NAMED FASTEST GROWING COMPANY IN THE 2000
LONG ISLAND TECHNOLOGY FAST 50
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
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."
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
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
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.
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.
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
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.
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.
American Biogenetic Sciences, Inc.:
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
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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.