Advanced Photonix Inc. Provides Additional Information On Potential Acquisition of Jenner Biotherapies Inc.Business Editors & Health/Medical Writers CAMARILLO, Calif.--(BUSINESS WIRE)--March 23, 2001 In March of last year, Advanced Photonix Inc.(R) (AMEX AMEX See: American Stock Exchange :API) ("API") announced it had commenced discussions with Jenner Biotherapies Inc., a development stage biotechnology company, concerning a possible acquisition transaction. In response to inquiries from several shareholders as to the current status of those discussions, the Board of API today announced that, having completed a preliminary investigation of the business of Jenner, the Board was continuing to pursue the possibility of a business combination with Jenner, that it had retained the Business Valuation Group of the firm of Stout, Risius, Ross, Inc. to perform independent valuations of Jenner and API, that negotiations with Jenner had been suspended by both sides pending the outcome of third party negotiations undertaken by Jenner which could have a material effect on Jenner's business, and that the API Board could not predict when those negotiations would resume, nor whether, if resumed, they would result in a final agreement with respect to price and other terms and conditions of the proposed transaction. Any transaction proposed or approved by the Board would be subject to the approval of API's shareholders. Jenner has developed five compounds with potential application as cancer vaccines Cancer vaccines A treatment that uses the patient's immune system to attack cancer cells. Mentioned in: Pancreatic Cancer, Exocrine and/or for vaccine administration and 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. responses to 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 . One of the vaccine products is in a Phase II clinical trial Noun 1. phase II clinical trial - a clinical trial on more persons than in phase I; intended to evaluate the efficacy of a treatment for the condition it is intended to treat; possible side effects are monitored phase II and a 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 activator for immune system response has completed a Phase III trial. Jenner's other products are in earlier stages of development. Advanced Photonix Inc.(R)is a leading supplier of innovative, silicon-based electro-optical products and design solutions to a global OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and customer base. Products include the patented Large Area Avalanche Photodiode (LAAPD) and FILTRODE(R)detectors, as well as PIN photodiodes. More information on Advanced Photonix can be found at http://www.advancedphotonix.com. This release includes "forward-looking" statements that involve a number of risks and uncertainties, including the risks and uncertainties inherent in ongoing business negotiations, and assuming that negotiations are successfully concluded and that an agreement is entered into, the risks and uncertainties of implementing such an agreement, including related financial, management and accounting issues. |
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