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PR NEWSWIRE) DJ: Biomoda, Inc. in Discussions with Major German Pharmaceu
DJ: Biomoda, Inc. in Discussions with Major German Pharmaceutical Affiliate,
Discloses Biomoda Partner Advanced Optics Electronics
ALBUQUERQUE, N.M.--(BW HealthWire)--June 8, 1998--
Advanced Optics to Become Fully Reporting by July 15, 1998
Advanced Optics Electronics, Inc. today disclosed that BIOMODA, INC. (in
which Advanced Optics recently increased its ownership to 27%) has been
contacted by BERLEX LABORATORIES on behalf of its parent company, SCHERING
AG.
Schering AG is a German-based pharmaceutical and medical technology company
headquartered in Berlin.
Schering AG, with over $3.8 Billion ($U.S.) in annual revenues and offices
worldwide, is a recognized leader in biotechnology research and the use of
contrast media in the diagnosis and treatment of a variety of diseases.
Biomoda, Inc., a privately held emerging biotechnology company, holds an
exclusive worldwide license for patented tests for the very early detection
of lung cancer. Biomoda's sputum test, capable of detecting lung cancer at
least six (6) years earlier than any currently available test, is uniquely
integrated with an effective lung cancer treatment utilizing the same
technology.
Preliminary discussions have recently been held between representatives of
Berlex Labs in Wayne, N.J. and representatives of Biomoda, Inc.
Berlex/Schering AG specializes in early diagnostics and therapy, two key
areas addressed in Biomoda's cancer testing and treatment program.
Schering AG invests approximately $700 Million annually in research and
development. Of this amount, about 25% is used in collaboration with new
and emerging technologies and companies.
Berlex/Schering AG will make a determination on how best to proceed with
Biomoda upon completion of Biomoda's testing of its early cancer test and
treatment program. Biomoda is currently conducting these tests at a
respected cytopathology lab in Arizona. Biomoda expects to complete its
series of tests within twelve weeks.
In other Company news, Advanced Optics Electronics expects to become a fully
reporting company with the SEC as of July 15, 1998. A company spokesperson
stated that, as a fully reporting company, ADOT positions itself to be
followed by analysts and brokers in the investment community, both
domestically and internationally.
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. ADOT also owns a
27% interest in Biomoda, Inc., an emerging biotechnology company
specializing in breakthrough cancer diagnostics and therapy. 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.
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.
Contact Advanced Optics Electronics, Inc. at (505) 797-7878 or visit their
web site at www.adot.org.
CONTACT: Advanced Optics Electronics, Inc.
(505) 797-7878
10:11 EDT JUNE 8, 1998 |
