Advanced Photonix Inc. Announces It Is Considering Acquisition of All the Assets of Jenner Biotherapies Inc.Business Editors CAMARILLO, Calif.--(BUSINESS WIRE)--March 3, 2000 Advanced Photonix Inc.(R) (AMEX AMEX See: American Stock Exchange :API), the leading developer and manufacturer of large area avalanche photodiodes (LAAPD), today announced that it is considering acquisition of all the assets of Jenner Biotherapies Inc. Information on Jenner Biotherapies Inc. is available on the World Wide Web at www.jennerbiotherapies.com. API's interest in Jenner is limited to a tracking stock concept. Funds or partners from sources other than API will be sought to develop Jenner's products. The combination of a Photonics and Biotech company, operated separately, appears to be a way to substantially enhance API's stockholder value. Jenner Biotherapies Inc. has developed five principal products: (1) a vaccine for prostate cancer prostate cancer, cancer originating in the prostate gland. Prostate cancer is the leading malignancy in men in the United States and is second only to lung cancer as a cause of cancer death in men. , (2) a vaccine for colorectal and lung cancer lung cancer, cancer that originates in the tissues of the lungs. Lung cancer is the leading cause of cancer death in the United States in both men and women. Like other cancers, lung cancer occurs after repeated insults to the genetic material of the cell. , (3) an emulsion solution to enhance vaccine administration, and (4) two macrophage macrophage /mac·ro·phage/ (mak´ro-faj) any of the large, mononuclear, highly phagocytic cells derived from monocytes that occur in the walls of blood vessels (adventitial cells) and in loose connective tissue (histiocytes, phagocytic activators, which assist the immune system immune system Cells, cell products, organs, and structures of the body involved in the detection and destruction of foreign invaders, such as bacteria, viruses, and cancer cells. Immunity is based on the system's ability to launch a defense against such invaders. to kill cancer cells cells once believed to be peculiar to cancers, but now know to be epithelial cells differing in no respect from those found elsewhere in the body, and distinguished only by peculiarity of location and grouping. See also: Cancer . In a Phase II trial, at 44 weeks, JBT JBT John Butler Trio (Australian band) JBT Junior Bowlers Tour JBT Jack-Booted Thug JBT Jumper for Blue Tooth 1001, the prostate vaccine showed a 35% benefit in time to progression (13 of 26 on vaccine, verses 21 of 26 on placebo, at a 98% probability). Jenner's ACT, a macrophage activator, has completed a Phase III trial showing a statistically significant beneficial arm using ACT. All Jenner products require approval for use by the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. before commercialization. Jenner Biotherapies Inc. proprietary position is extensive. The company has 8 issued U.S. patents, 101 issued foreign patents, and 36 U.S. and foreign patent applications, which Jenner either owns, or has worldwide exclusive rights. Jenner has spent less that $20 million to assemble this portfolio, but the pre-Jenner costs to develop these valuable drugs and patent positions probably exceeds five times that amount. Hayden Leason is chairman of both API and Jenner. He is a substantial shareholder and creditor of Jenner. Recently, Leason sold all of his holdings in API. API has determined that acquisition of Jenner must first be approved by a vote of the API shareholders. In the interim, API may execute an option to acquire Jenner, subject to a vote by the board of directors. Advanced Photonix Inc. is a high-technology company which designs and manufactures silicon photodetectors, optoelectronic hybrid assemblies and proprietary solid state large area avalanche photodiodes. Information on Advanced Photonix is available on the World Wide Web at http://www.advancedphotonix.com. |
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