Abaxis and LamdaGen Corporation Enter Into R&D Diagnostic Collaboration

UNION CITY AND MENLO PARK, CA, October 25, 2013 — Abaxis, Inc. (NasdaqGS: ABAX), a medical products company manufacturing point-of-care blood instrumentation and consumables to the medical, research and veterinary markets, and privately-held LamdaGen Corporation, an optical biosensor company, announced today an R&D agreement to integrate LamdaGen’s high- sensitivity Plasmonic ELISA technology on the Abaxis Piccolo and VetScan rotors. System feasibility testing is currently underway.

LamdaGen’s patented biosensor platform is based upon LSPR (Localized Surface Plasmon Resonance) and provides rapid, quantitative diagnostic results with broad dynamic range and detection levels in the femtomolar range.

“We believe that LamdaGen’s technology will provide a unique opportunity for Abaxis to integrate a high sensitivity immuno-based system onto our existing rotor-based platforms. This would allow us to provide both our existing clinical chemistry menu together with a wide range of high-sensitivity immunoassays, all within the scope of our present designs. If proven viable, both medical and veterinary customers will be able to simultaneously analyze for chemistry parameters as well as for infectious disease, hormones and a wide range of other markers on the same rotor,” commented Clint Severson, Chief Executive Officer of Abaxis. “The ability to unify both diagnostic systems onto our existing rotor will greatly expand Abaxis’ global diagnostic offerings.”

“Abaxis is a leader in the POC industry, and we are very excited to collaborate with them in shaping the future of diagnostic testing,” added Randy Storer, Chief Executive Officer of LamdaGen.

About Abaxis

Abaxis develops, manufactures, markets and sells portable blood analysis systems for use in any veterinary or human patient-care setting to provide clinicians with rapid blood constituent measurements. The system consists of a compact, 5.1 kilogram (11.2 pounds), portable analyzer

and a series of single-use plastic discs, called reagent discs that contain all the chemicals required to perform a panel of up to 13 tests on veterinary patients and 14 tests on human patients. The system can be operated with minimal training and performs multiple routine tests on whole blood, serum or plasma samples. The system provides test results in less than 12 minutes with the precision and accuracy equivalent to a clinical laboratory analyzer. The veterinary business also provides to the animal health and research market a line of hematology instruments for point-of- care complete blood counts (CBC), a specialty instrument to screen for and detect clotting disorders and to measure equine fibrinogen levels, a handheld instrument for the rapid assessment of certain critical care tests and rapid point-of-care tests for Heartworm infections, Parvovirus, Giardia and Lyme disease. Abaxis, through its AVRL division, provides routine laboratory testing as well as specialty testing for veterinarians nationwide. For more information, visit http://www.abaxis.com.

Contact:

Abaxis, Inc.
Clint Severson
Chief Executive Officer

510-675-6500

Lytham Partners, LLC
Joe Dorame, Robert Blum and Joe Diaz

602-889-9700

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