PRESS RELEASE!!!!!!!!!!!!!!!!
Advanced Optics Electronics, Inc. Increases Holdings in Emerging Bio-technology Company, Biomoda, Inc.
Cancer Testing/Treatment Company's Annual Testing Revenues Alone Projected to Exceed $70 Million in Five Years
ALBUQUERQUE, N.M.--(BUSINESS WIRE)--April 27, 1998-- Advanced Optics Electronics, Inc. today announced it has increased its holdings in Biomoda, Inc. to 22% of Biomoda's outstanding stock.
Advanced Optics also retains an option to substantially increase its position in Biomoda over the next year.
Biomoda, Inc., a privately held bio-technology company, holds an exclusive world-wide license for patented tests for the very early detection of lung cancer. This sputum test, capable of detecting lung cancer at least six (6) years earlier than any currently available test, is uniquely integrated with aneffective lung cancer treatment utilizing the same technology.
Biomoda, Inc. is anticipating its cancer testing/treatment program will enter the public market the end of the fourth quarter of 1999. Biomoda will initially pursue market share in the $3 billion lung cancer market and later in the $750 million inflammatory bowel disease market.
Biomoda's proprietary cancer technology is based on patented applications of TCPP, a synthetic porphyrin compound for cancer diagnostics and therapeutics. When used outside the body for clinical diagnosis of sputum, TCPP binds to lung cancer cells and can be detected with a fluorescent microscope. When used inside the body, TCPP (joined to a copper isotope, CU-67) accumulates in the affected region of the lungs. The beta rays emitted from the CU-67 can isolate and attack tumors on a very deep level. The use of the same compound, TCPP, outside and inside the body, leads to Biomoda's unique, integrated medical strategy.
Advanced Optics Electronics, Inc. has retained first right of refusal to design, manufacture and distribute the necessary scanning testing devices for the lung cancer tests using Advanced Optics Electronics' proprietary display technology.
Additionally, Advanced Optics Electronics is reviewing production capabilities in response to several recent inquiries from potential buyers of its flat panel displays. Advanced Optics is also currently considering requests from several companies desiring to license portions of its display technology.
Advanced Optics Electronics, Inc. (OTC BB:ADOT - news) is a developer of patented electronic display technology, utilizing ADOT's proprietary SLM (Spatial Light Modulator) light valve. This industry-leading technology can be utilized in many diverse fields including the production of ''television quality'' advertising billboards, medical testing equipment, military displays, computer monitors and high definition video transmission. Advanced Optics Electronics actively seeks partnerships with companies
in fields that could benefit from ADOT's patented technology.
This press release contains forward-looking statements with respect to the results of operations and business of the Company that involves risk and uncertainties. The Company's actual future results could materially differ from those discussed. Risks and uncertainties of the Company will be detailed from time to time in the Company's periodic reports to be filed with the Securities and Exchange Commission. |
