*************MORE FROM 1998*************
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PR NEWSWIRE) DJ: Biomoda, Inc. Receives Offer to Take Company Public; Mov
DJ: Biomoda, Inc. Receives Offer to Take Company Public; Move Would Have
Positive Impact on Advanced Optics Electronics
ALBUQUERQUE, N.M.--(BUSINESS WIRE)--Sept. 9, 1998--Advanced Optics
Electronics, Inc. (OTC BB: ADOT) today announced that Biomoda, Inc. has
notified Advanced Optics that Biomoda has received a preliminary offer from
an investment banking firm to take Biomoda, Inc. public.
The Company will release specifics of this proposed public offering of
Biomoda shares as negotiations progress.
Advanced Optics Electronics owns approximately 22% of Biomoda, Inc., with an
option to increase its holdings to 27%.
Biomoda, Inc. owns a patented lung cancer test capable of detecting lung
cancer up to six years earlier than any other available test. A final
double-blind study of the effectiveness of Biomoda's revolutionary
non-invasive test is currently being conducted by LungCheck(R), Inc. of
Scottsdale, Ariz., with results expected to be completed by the end of
September. These results will be sent for confirmation to a prestigious
institution on the East coast, with further confirmation expected by the
first week in October. Verified results will be submitted to various medical
journals for publication as well as to the national media.
Biomoda's technology also encompasses the treatment of lung cancer.
Biomoda's prominent research team has included world-leading
cytopathologists, Dr. Geno Saccomanno of St. Mary's Hospital and Medical
Center, Dr. Jim Mulshine of the National Cancer Institute and the late Dr.
John Frost of Johns Hopkins University. Also currently involved in Biomoda's
research is Dr. L. Edward Ellinwood, a nationally recognized pharmacologist
from St. Mary's Hospital and Los Alamos National Laboratories.
Biomoda believes this technology is a leading hope for a cure for lung
cancer. FDA approval will not be necessary for the patented non-invasive
lung cancer test, but will be required for the patented treatment process.
Biomoda, Inc. is currently in discussions with several major pharmaceutical
companies regarding this patented technology. It is anticipated that results
from this latest round of studies will provide Biomoda with the data
necessary to conclude major marketing and distribution agreements with
several major partners in the United States and abroad.
This press release contains forward-looking statements with respect to the
results of operations, expectations 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.
ADVANCED OPTICS COMPANY INFORMATION
ADOT owns approximately 22% of Biomoda, Inc., an emerging biomedical company
specializing in breakthrough cancer diagnostics and therapy.
Advanced Optics Electronics, Inc. (OTC Bulletin Board: 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.
CONTACT: Advanced Optics Electronics, Inc.
(505) 797-7878
Web site: adot.org.
14:07 EDT SEPTEMBER 9, 1998
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