AMDL Announces Trip to China Relating to Purchase of Two Chinese Pharmaceutical Firms
January 19 2006 - 5:00AM
PR Newswire (US)
TUSTIN, Calif., Jan. 19 /PRNewswire-FirstCall/ -- AMDL, Inc.
(AMEX:ADL), developer and marketer of a test for the early
detection of cancer and other serious diseases, announced today
that it has been conducting a due diligence trip in China in
furtherance of the acquisition of two Peoples Republic of China
based pharmaceutical companies for up to 13,215,000 shares of AMDL
common stock from Jade Capital Group, Ltd., a Hong Kong company.
Representatives of AMDL have visited Jade's Chinese GMP approved
pharmaceutical manufacturing facilities and met with
representatives of the Jaingxi Province Bureau of the Chinese FDA
(SFDA) to determine the regulatory path for gaining SFDA approval
for manufacturing and selling DR-70(R) in China, as well as fast
tracking AMDL's combined immunogene therapy technology after the
necessary clinical trials have been conducted. Gary L. Dreher,
President of AMDL stated, "This transaction is proceeding in the
ordinary course. It has a lot of complex parts and we are ironing
out the details. We are encouraged by the information received to
date and the sophistication of the pharmaceutical operations in
China. This transaction affords AMDL the opportunity to take
advantage of China's growing pharmaceutical industry and roll out
our technology in China." Additional Information AMDL, Inc. intends
to file with the Securities and Exchange Commission a registration
statement on Form S-4 that will include a prospectus and proxy
statement of AMDL and other relevant documents in connection with
the proposed transaction with Jade Capital Group, Inc. Investors
and security holders are advised to read the prospectus/proxy
statement regarding the proposed transaction if and when it becomes
available, because it will contain important information. Investors
and security holders may obtain a free copy of the prospectus/proxy
statement, if and when available, and other documents filed by AMDL
at the Securities and Exchange Commission's web site at
http://www.sec.gov/. The prospectus/proxy statement and such other
documents may be obtained, when available, from AMDL by directing
such request to AMDL, Inc., 2492 Walnut Avenue, Suite 10, Tustin,
California 92780, Attention: Investor Relations. A description of
any interests that AMDL's directors and executive officers have in
the proposed transaction will be available in the prospectus/proxy
statement. Information regarding AMDL's officers and directors is
included in AMDL's Form 10-KSB filed with the Securities and
Exchange Commission on March 30, 2005. These materials are
available free of charge at the Securities and Exchange
Commission's web site at http://www.sec.gov/ and from AMDL. 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 We intend that the
statements in this press release that are not historical constitute
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended and Section 21 of the
Securities Exchange Act of 1934, as amended and are subject to
numerous risks and uncertainties, including the risks (i) that the
transaction described may not be completed when expected, or at
all, (ii) the risk that the terms of the definitive acquisition
agreements may materially differ from that disclosed herein, (iii)
the risks related to the inability to obtain or meet conditions
imposed for, governmental and other approvals of the transaction,
including the approval by the stockholders of AMDL, (iv) risks
related to the uncertainty surrounding the transaction and
transactions of this type and (v) the costs related thereto. In
addition, these forward-looking statements are subject to the other
risks of AMDL's business, including, but not limited to, (a) AMDL's
failure to complete successfully the development of new or enhanced
products, (b) AMDL's future capital needs, (c) the lack of market
demand for any new or enhanced products that AMDL may develop, (d)
the lack of market acceptance of AMDL's products and its limited
revenues to date, (e) the success of competitive products, other
economic factors affecting AMDL and its markets, and (f) 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 in the event of new circumstances or unanticipated events
that may occur in the future. 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.sec.gov/ Web site: http://www.amdl.com/
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