IVAX Diagnostics’ Diamedix Subsidiary Enters Canada Through Three Year Exclusive Distribution Agreement with Nova Century Scientific

IVAX Diagnostics, Inc. (AMEX: IVD), a fully integrated global invitro diagnostics company, announced that its subsidiary, Diamedix Corporation, has signed a distribution agreement with Nova Century Scientific (“Nova”), a leading Canadian distributor and manufacturer of diagnostic kits and laboratory supplies. Through this agreement, which marks IVAX Diagnostics’ entry into the Canadian market, Nova will market and sell 50 of Diamedix’s products, including analyzer instrumentation, under the Diamedix brand. Nova distributes products to hospitals, clinical laboratories and research institutions across Canada, and is a subsidiary of IMMCO Diagnostics, Inc.

Charles Struby, Ph.D., Chief Executive Officer and President of IVAX Diagnostics, said, “With the Canadian in vitro diagnostics market estimated to be $0.8 billion this distribution agreement presents solid opportunities for Diamedix to enter this country with a high-quality market leader. This agreement also reflects the broadening of our collaboration with IMMCO Diagnostics, with whom we expanded our relationship in July 2009, and for whom we are currently distributing products in the U.S. and Europe.”

Bill Maggio, President and CEO of IMMCO Diagnostics, said, “Nova’s agreement with Diamedix strengthens our position in the growing Canadian market for in vitro diagnostics. Diamedix’s high quality products provide us with yet another competitive advantage as we continue to penetrate the marketplace with our broad range of quality laboratory products.”

Dr. Struby concluded, “This agreement, which is the second exclusive distribution agreement we have signed during the first quarter of 2010, reflects our strategy of continuing to expand our suite of high quality, reliable products, into new geographical areas.”

About Nova Century Scientific

Nova Century Scientific is a leader in the manufacture and distribution of diagnostic kits and laboratory supplies for hospitals, clinical laboratories and research institutions across Canada. The company supports its broad range of quality laboratory products with personalized customer service and responsive technical support. Its mission is customer satisfaction. It is a company committed to meeting customer requirements and enhancing customer satisfaction through continual improvement of its products, services and the quality of management.

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.

Safe Harbor Statement

Except for the historical matters contained herein, statements in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements involve risks and uncertainties that may affect the business and prospects of IVAX Diagnostics, Inc., including, without limitation: the risks and uncertainties associated with Diamedix Corporation’s distribution agreement with Nova Century Scientific, including, without limitation, that it may not successfully assist IVAX Diagnostics or its subsidiaries in its goal of increasing its presence and expanding its product reach in new geographic areas such as Canada, provide IVAX Diagnostics or its subsidiaries with a distribution network for its suite of diagnostic products or otherwise achieve its intended results or positively impact IVAX Diagnostics’ financial condition or operating results; and other risks and uncertainties that may cause results to differ materially from those set forth in the forward-looking statements. In addition to the risks and uncertainties set forth above, investors should consider the economic, competitive, governmental, technological and other risks and uncertainties discussed in IVAX Diagnostics’ filings with the Securities and Exchange Commission, including, without limitation, the risks and uncertainties discussed under the heading “Risk Factors” in such filings.