MEDFORD, N.Y. -- (BUSINESS WIRE) --

Chembio Diagnostics, Inc. (OTCBB: CEMI) meets the high standards and criteria of many investors: an understandable first-class business, a sustainable competitive advantage, able managers, and a bargain-priced stock.

Chembio develops, manufactures, licenses and markets point-of-care (POC) diagnostic tests and technology for the detection of infectious diseases. With the introduction of its Dual Path Platform (DPP®), Chembio developed its DPP® Oral HIV 1&2 Screen Assay for use with oral fluid or blood samples, making it only the second oral HIV test on the world market.

Chembio has initiated clinical trials in the United States for this product in connection with a planned United States Food & Drug Administration Pre-Marketing Approval application.

The product has already been approved by the U.S. Agency for International Development for inclusion on the list of approved rapid HIV tests. This approval makes the test eligible for procurement with funds provided by the U.S. President's Emergency Plan for AIDS Relief, or PEPFAR. Meanwhile, the Assay was recently evaluated by the U.S. Centers for Disease Control Global AIDS Program in Mozambique, performing with 100% sensitivity and 99.8% specificity, a performance that exceeded that of the three other tests included in the study. Chembio is also developing DPP® POC tests for influenza, Hepatitis C, and syphilis.

As for management, Chembio's CEO and CFO have over 50 years' combined experience in leading companies. Their senior VP of R&D has spent nearly two decades in biotech and helped develop a POC technology now superseded by Chembio's DPP®.

Finally, Chembio's stock price, trading at around $0.23, is a bargain. Chembio's fourth quarter showed net sales increasing 39.3% to $3.13 million versus $2.24 million a year earlier; net 4Q product sales to its U.S. marketing arm, Inverness Medical Innovations, Inc., increased more than $1.29 million to $1.83 million, or approximately 238%, compared to $542,000 a year earlier.

CEO Larry Siebert stated: "We see our future sales being driven by the entry of our DPP® point of care tests for HIV, Syphilis and other infectious diseases into the U.S. and international markets." For more information, log on to www.chembio.com.

CONTACT:

Investor Contact:
The Investor Relations Group
James Carbonara, 212-825-3210