AMDL, Inc. Enters Into Distribution Agreements With GenWay Biotech, Inc. to Advance Commercialization of the DR-70 (FDP) Cancer
May 13 2009 - 6:00PM
PR Newswire (US)
TUSTIN, Calif., May 13 /PRNewswire-FirstCall/ -- AMDL, Inc. (NYSE
Alternext US: ADL), a US-based pharmaceutical company with major
operations in China, announced today it has entered into two
distinct five-year marketing and distribution agreements with
GenWay Biotech, Inc., a global protein and antibody solutions
provider, whereby GenWay Biotech will market and distribute AMDL's
DR-70 (FDP) cancer test in the US and Canada. The partnership
significantly advances AMDL's global commercialization strategy for
DR-70 specifically in the US and Canada. According to the agreed
upon terms, GenWay Biotech has the rights to market and distribute
AMDL's DR-70 (FDP) cancer test for uses other than colorectal
cancer to CLIA-certified laboratories in the US; and as a lung
cancer screen to laboratories in Canada. This includes implementing
a marketing strategy and program execution to drive product
awareness and sales. GenWay Biotech will bear all responsibility
for these activities. The potential value of these agreements is at
least $15.8 million over a 5-year period. "The US and Canada are
major world markets for in vitro diagnostic products," commented
Mr. Douglas MacLellan, Chairman and CEO of AMDL, Inc. "We believe
that GenWay Biotech is well positioned to drive market adoption
with CLIA laboratories in these significant markets. This is a
substantial moment in the history of AMDL's Tustin-based operations
-- not only does this agreement validate DR-70 as a viable cancer
diagnostic product, it puts AMDL's diagnostic division on a solid
path to profitability." According to Mr. Robert Gans, CEO, GenWay
Biotech, Inc., "We are dedicated to providing CLIA labs with highly
innovative and in-demand products that improve the level and
quality of patient healthcare around the world. We are very pleased
to support the commercialization of AMDL's DR-70 cancer test in the
US and Canada. AMDL has developed a highly-effective test to
provide potentially life-saving information regarding cancers and
we are excited to bring it to the US and Canada." DR-70 (FDP) is an
in vitro diagnostic test that enables physicians and their patients
to effectively monitor and/or detect certain types of cancers by
measuring the accumulation of specific breakdown products in the
blood called Fibrin and Fibrinogen Degradation Products (FDP). FDP
levels rise dramatically with the progression of cancer. DR-70 can
be used as a simple, non-invasive blood test to monitor and/or
diagnose the progression or status of certain cancers. The Company
received US FDA approval for DR-70 in the second quarter of FY2008
and began executing a commercialization strategy for the product
late in the fourth quarter of the same year. DR-70 has been
approved by the US FDA for the monitoring of colorectal cancer and
by Health Canada as a lung cancer screen and cancer monitoring
tool. Following the introduction of the DR-70 (FDP) cancer test in
the US and Canada, AMDL intends to expand product commercialization
to select international markets based on other regulatory approvals
and plans to file for marketing approvals in other areas of the
globe. For additional information on AMDL and its portfolio of
products visit the Company's corporate website at
http://www.amdl.com/. For Investor Relations information contact
Kristine Szarkowitz at or 1.206.310.5323. About AMDL: Headquartered
in Tustin, CA with operations in China, AMDL, Inc., along with its
subsidiary Jade Pharmaceutical Inc. (JPI), is a pharmaceutical
company devoted to the research, development, manufacturing, and
marketing of diagnostic, pharmaceutical, nutritional supplement,
and cosmetic products. The Company employs over 510 people in the
US and China. About GenWay Genway Biotech, Inc. is a diagnostic
company based in San Diego, CA that manufactures and supplies key
components of diagnostic kits, such as antibodies and antigens, to
diagnostic companies. The Company's proprietary technology platform
specializes in producing avian IgY antibodies from genes and
proteins of human, animal, plant, bacterial and other sources.
GenWay also offers single chain recombinant scFv and shark vNAR
antibodies. More than 40,000 products are available from the
Company's catalog. GenWay is also actively developing novel cancer
diagnostic tests for point-of-care and over-the-counter
diagnostics. For more information about GenWay Biotech, please
visit http://www.genwaybio.com/ Forward Looking Statements: Safe
Harbor Statement under the Private Securities Litigation Reform Act
of 1995: The statements contained in this document include certain
predictions and projections that may be considered forward-looking
statements under securities law. These statements involve a number
of important risks and uncertainties that could cause actual
results to differ materially including, but not limited to, the
performance of joint venture partners, as well as other economic,
competitive and technological factors involving the Company's
operations, markets, services, products, and prices. With respect
to AMDL, Inc., except for the historical information contained
herein, the matters discussed in this document are forward-looking
statements involving risks and uncertainties that could cause
actual results to differ materially from those in such
forward-looking statements. DATASOURCE: AMDL, Inc. CONTACT:
Kristine Szarkowitz of AMDL, Inc., +1-206-310-5323, Web Site:
http://www.amdl.com/ http://www.genwaybio.com/
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