AMDL Reports Disappointing Sales From Asian Distributor
TUSTIN, Calif., Dec 14, 2001 /PRNewswire via COMTEX/ -- AMDL, Inc. (Amex: ADL),
developer and marketer of tests for the early detection of cancer and other
serious diseases, announced today that Chinese Universal Technologies Co., Ltd.,
AMDL's distributor of DR-70(R) kits in ten countries in Asia, has failed to meet
the minimum purchase requirement of 10,000 kits during the initial year of its
Exclusive Distribution Agreement. Chinese Universal purchased less than 400 kits
during the year. Accordingly, AMDL is exercising its right to terminate the
agreement, but will allow Chinese Universal to continue to act as a distributor
on a non-exclusive basis while AMDL pursues other distribution options. Gary
Dreher, President, commented, "We regret this action, but AMDL is counting on
significant sales and productive marketing efforts in Asia in order to realize
its sales goals in 2002 and beyond."
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 simultaneously 84 percent of the time overall. Clinical trials of the
DR-70(R) have been conducted in China, Canada, Taiwan and Turkey. Cancers that
can be detected are lung, colon, breast, stomach, liver, rectum, ovary, cervix,
esophagus, thyroid, pancreas, trophoblast and malignant lymphoma. The DR-70(R)
can detect 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 these and additional products can be obtained at
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.
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SOURCE AMDL, Inc. |
