AMDL Announces First Closing of Private Offering
December 08 2004 - 6:04PM
PR Newswire (US)
AMDL Announces First Closing of Private Offering TUSTIN, Calif.,
Dec. 8 /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 a first
closing of a combined Regulation D/Regulation S private offering of
shares and warrants generating gross proceeds of $775,191,
exclusive of placement agent fees of approximately $101,000. The
first closing consisted of 1,006,741 shares of AMDL common stock at
$.77 per share and four year warrants to purchase an additional
1,006,741 shares, exercisable at $1.35 per share. AMDL agreed to
file a registration statement on Form S-3 within 30 days of the
first closing to register the resale of the shares and shares
issuable on exercise of the warrants. The offering will continue
until next week when the second and final closing will occur. The
sale of shares and warrants in the second closing will be on
similar terms and conditions, no more favorable than in the first
closing. 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.amdlcorporate.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. DATASOURCE: AMDL, Inc. CONTACT: Gary L. Dreher, President
& CEO of AMDL, Inc., +1-714-505-4460 Web site:
http://www.amdlcorporate.com/
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