AMDL Announces Second Closing of Private Offering
August 30 2005 - 4:43PM
PR Newswire (US)
TUSTIN, Calif., Aug. 30 /PRNewswire-FirstCall/ -- AMDL, Inc.
(AMEX:ADL), developer and marketer of tests for the early detection
of cancer and other serious diseases, announced today that it has
conducted the second closing of a combined Regulation D/Regulation
S private offering of shares and warrants. The offering generated
total gross proceeds of $1,007,000, exclusive of placement agent
fees of $130,910. The offering consisted of the sale of an
aggregate of 3,163,591 shares of AMDL common stock, 2,093,750
shares at $0.32 per share and 1,069,841 shares at $0.315 per share,
and three-year warrants to purchase an additional 1,256,250 shares
of AMDL common stock at $0.49 per share and 641,905 shares of AMDL
common stock at $0.44 per share, including warrants to purchase
316,359 shares issued to the placement agents. AMDL agreed to file
a registration statement on Form S-3 by October 15, 2005 to
register the resale of the shares and shares issuable on exercise
of the warrants. Gary L. Dreher, President of AMDL said: "We are
gratified by the response to our offering. The proceeds will be
used to fund the costs of regulatory approvals of our products and
for general working capital needs." About AMDL AMDL, Inc.
(AMEX:ADL), 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 Statements in this
press release may constitute forward-looking statements and are
subject to numerous risks and uncertainties, including the failure
to complete successfully the development of new or enhanced
products, the Company's future capital needs, the lack of market
demand for any new or enhanced products the Company may develop,
any actions by the Company's partners that may be adverse to the
Company, the success of competitive products, other economic
factors affecting the Company and its markets, and other risks
detailed from time to time in the Company's filings with the
Securities and Exchange Commission. The actual results may differ
materially from those contained in this press release. The Company
disclaims any obligation to update any statements in this press
release. Contact: AMDL, Inc. Gary L. Dreher President & CEO
(714) 505-4460 DATASOURCE: AMDL, Inc. CONTACT: Gary L. Dreher,
President & CEO of AMDL, Inc., +1-714-505-4460 Web site:
http://www.amdl.com/
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