AMDL Announces Second Closing of Private Offering
December 17 2004 - 6:00AM
PR Newswire (US)
AMDL Announces Second Closing of Private Offering TUSTIN, Calif.,
Dec. 17 /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
$1,237,190, exclusive of placement agent fees of $160,835. The
offering consisted of the sale of an aggregate of 1,606,741 shares
of AMDL common stock at $.77 per share and four year warrants to
purchase an additional 1,767,415 shares of AMDL common stock,
including warrants to purchase 160,674 shares issued to the
placement agent, all exercisable at $1.17 per share. AMDL agreed to
file a registration statement on Form S-3 by January 5, 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.amdlcorporate.com/. 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:///
http://www.amdlcorporate.com/
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