AMDL Files Preliminary Proxy Statement and Provides an Update on the Status of the Jade Pharmaceutical, Inc. Acquisition
June 02 2006 - 6:00PM
PR Newswire (US)
TUSTIN, Calif., June 2 /PRNewswire-FirstCall/ -- AMDL, Inc.
(AMEX:ADL), 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. (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 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 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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