(Copied from RB)...NEWS OUT TODAY!!
(BSNS WIRE) PanaMed to Select Site for Clinical Trials
PanaMed to Select Site for Clinical Trials
Business/Health Editors
CAMARILLO, Calif.--(BUSINESS WIRE)--Oct. 25, 2001--Quintek
Technologies Inc. (OTCBB:QTEK) announced its newly formed subsidiary,
PanaMed, has initiated discussions with representatives from several
third world countries to select a site for conducting clinical trials
using PanaMed's proprietary line of therapies for treating HIV/AIDS.
The first phase of the trials, expected to start in January 2002
and last for 6 months, will focus on treating 60 patients infected
with advanced stages of this disease. Phase 2 trials are structured to
treat 2,000 people and are expected to start in mid-summer 2002, once
successful results are shown from Phase 1.
The trials will be conducted under highly structured guidelines,
with patient status baselined prior to the first treatment and then
monitored frequently throughout the trial to ensure an accurate
historical record of patient progress.
A portable, state-of-the-art blood analysis and recording system
will be used to capture and store a complete blood panel and other
pertinent information on each person treated. The records will be
sent, on a daily basis, to a central database for consolidation and
safe storage at a remote site.
Once the clinical trials are complete, PanaMed plans to proceed
with an aggressive program to treat an estimated 35 million people
within the territories authorized in PanaMed's exclusive licensing
agreement. Revenues are expected to range from $700 to $5,000 per
patient, with the exact amount depending on the location, patient
condition and other pertinent factors.
For more information on PanaMed, call 888/787-0485.
About Quintek
Quintek supplies chemical-free equipment, software, media and
services used to preserve digital data and ensure against information
loss due to catastrophic events, computer virus, technology
obsolescence, equipment failure, media degradation, change in
formatting standards, and software incompatibility.
Quintek's strategic alliances include: Kitron, Saab, Eastman
Kodak, Anacomp and Imation. Customers include: TRW, Lockheed-Martin,
U.S. Navy, Aramco, Duke Power, Dresser Industries, Smiths Industries,
Carolina Power & Light, Baltimore Gas & Electric, Lufkin Industries,
Whirlpool, Zenith, PG&E, GTE Airfone, Caltrans, NASA, JPL, Southern
California Edison, and Westinghouse, among others.
With an environmentally superior solution, Quintek has a
significant competitive advantage in a worldwide market estimated at
$2.5 billion per year.
Quintek holds a 10 percent equity position in PanaMed as the
result of a stock swap transaction executed in conjunction with the
recent formation of PanaMed. This is an investment made by Quintek to
increase shareholder value without diverting attention from the
company's primary business line.
This document contains forward-looking statements. There are
certain important factors that could cause results to differ
materially from those anticipated by the statements made above.
Additional information on these and other factors will be included on
future 10-Q and 10-K reports.
--30--MRA/la* MTB/la
CONTACT: Quintek Technologies Inc.
Catrina Jenkins, 888/787-0485 (Investor Relations)
QTEK_PR@TwoTrades.com
www.Quintek.com
www.TwoTrades.com
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: MEDICAL PHARMACEUTICAL SOFTWARE
SOURCE: Quintek Technologies Inc.
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