TUSTIN, Calif., June 2 /PRNewswire-FirstCall/ -- AMDL, Inc. , developer and marketer of tests for the early detection of cancer and other serious diseases, today announced that it has filed a 14(a) Preliminary Proxy Statement with the SEC for review and comment. This proxy statement is related to the acquisition of Jade Pharmaceutical, Inc. and other corporate matters. Gary L. Dreher, CEO, indicated that "when approved by the SEC, the Proxy Statement should allow AMDL to hold a special in lieu of annual stockholders meeting to vote upon and complete the Jade Pharmaceutical acquisition by the end of the third quarter of 2006."
Mr. Dreher further explained that "the acquisition of Jade Pharmaceutical will allow AMDL to swiftly move into China, where AMDL believes there is an opportunity to market its cancer screening test DR-70(R) and its gene therapy technology after receipt of approval from China's State Food and Drug Administration (SFDA). AMDL, in conjunction with Jade Pharmaceutical, intends to begin a clinical trial process for both AMDL's DR-70(R) and its Combination Immunogene Therapy for submission to the SFDA. AMDL expects to make significant and identifiable progress on its clinical trial activities in China for both DR-70(R) and CIT during the second half of 2006." The Company also said that it is continuing its efforts with the U.S. Food and Drug Administration to obtain clearance to market DR-70(R) in the U.S.
About AMDL: AMDL, Inc. , headquartered in Tustin, California, is a theranostics company, involved in the detection and treatment of the same disease, cancer. AMDL is the inventor, developer and worldwide marketer through exclusive distribution agreements of the DR-70(R) non-invasive cancer blood test, which has demonstrated its ability to detect the presence in humans of up to 13 cancers 84 percent of the time overall. In a study published in the Journal of Immunoassay (1998, vol. 19, pp 63-72) DR-70(R) was shown to detect at least 13 different types of cancer (lung, breast, stomach, liver, colon, rectal, ovarian, esophageal, cervical, trophoblastic, thyroid, malignant lymphoma, pancreatic) although the sample size for 9 of the cancers was not statistically significant. Clinical trials of DR-70(R) have been conducted in Canada, China, Germany, Taiwan and Turkey. DR-70(R) can detect many kinds of cancer using a single tube of blood, eliminating the need for costly, multiple tests. AMDL also owns a combination immunogene therapy technology that is a possible treatment for those already diagnosed with cancer and could eventually be used as a vaccine to protect patients known to be at risk because of a family history for certain types of cancer. The combination therapy both builds the body's immune system and destroys cancer cells. More information about AMDL and its additional products can be obtained at http://www.amdl.com/.
Forward Looking Statements under The Private Securities Litigation Reform Act of 1995: This report contains forward-looking statements, including statements regarding expectations for the acquisition of Jade Pharmaceutical, Inc. and risks and uncertainties related to receipt of approvals for marketing of AMDL's products in China. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to, the risk that acquisition transaction may not be completed in the third quarter of 2006, or at all, risks related to the inability to obtain, or meet conditions imposed for, governmental, and other approvals of the transaction, including approval by stockholders of AMDL, risks related to any uncertainty surrounding the transaction, and the costs related to the transaction. We caution readers not to place undue reliance on any forward-looking statements. We do not undertake, and specifically disclaim any obligation, to update or revise such statements to reflect new circumstances or unanticipated events as they occur.
Contact: AMDL, Inc.
Gary L. Dreher
President & CEO
(714) 505-4460
