Printer Friendly

SOCAL CAPITAL CORP. ANNOUNCES EMPYREAN DIAGNOSTICS INC. IN PROMINENT POSITION TO ADDRESS ALTERNATIVES TO AIDS CURE

 VANCOUVER, British Columbia, June 9 /PRNewswire/ -- Socal Capital Corp. company President and Chief Executive Officer, Daniel Bland reports today from the Ninth International Conference on AIDS in Berlin, that because of the lack of progress in the search for a cure for AIDS, the HIV-1 test kit developed by the company's U.S. subsidiary, Empyrean Diagnostics Inc. (EDI), is now in a prominent position to address the extreme pressure to find alternatives to a cure for this devastating disease.
 Bland found that in comparison to the climate at the AIDS conference in Amsterdam last year, "The experts are now saying what the company has believed for more than a year ... that testing is the means by which the spread of this disease could be controlled in developing countries. Low cost diagnostics like EDI's can have a dramatic impact on the abatement of AIDS by testing the blood supplies in those countries as well as wide-spread testing of the population. A better solution has not been presented here (at the conference) and no one else is offering low cost diagnostics."
 Dr. Michael Merson, director of the World Health Organization (WHO) Global Program on AIDS told the conference yesterday that in order to spare millions of lives and save about $90 billion in costs by the year 2000, developed countries must invest $2.5 billion per year for AIDS prevention in developing countries. He estimated that more than 14 million people worldwide are infected with the human immunodeficiency virus (HIV), widely believed to cause AIDS.
 EDI recently announced its first licensing agreement with the Rilldale Corp. of London and Milan, Italy, to form a joint venture to manufacture and distribute EDI's inexpensive test-kit technology throughout Western Europe and Turkey. The company is pleased to further announce that it is in the final stage of negotiation for two additional licensing agreements in developing countries where the incidence of AIDS is high.
 The agreement with Rilldale is expected to generate sales of 25 million test-kits by the end of 1994 and management believe the two additional agreements will greatly enhance the company's revenue projections.
 -0- 6/9/93
 /CONTACT: Fraser B. Martin, director of Socal Capital, 604-687-3376/
 (SOL.)


CO: Socal Capital Corp. ST: British Columbia IN: MTC SU: PDT

MF-JB -- LA028 -- 0367 06/09/93 18:49 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 9, 1993
Words:384
Previous Article:ORION PICTURES CORP. ANNOUNCES FISCAL YEAR RESULTS
Next Article:NORCEN ENERGY RESOURCES LTD. ANNOUNCE DIVIDENDS
Topics:


Related Articles
SOCAL CAPITAL ANNOUNCES UPDATE ON RESULTS OF PHASE-ONE EXTERNAL CLINICAL EVALUATION TRIALS ON HIV-1 DIAGNOSTIC ASSAY
EMPYREAN DIAGNOSTICS INC., SUBSIDIARY OF SOCAL CAPITAL CORP., ANNOUNCES RESULTS FROM PHASE-2 CLINICAL TRIALS
EMPYREAN DIAGNOSTICS INC. (SUBSIDIARY OF SOCAL CAPITAL CORP.) ENTERS FORMAL LETTER AGREEMENT
EMPYREAN DIAGNOSTICS INC. (SUBSIDIARY OF SOCAL CAPITAL CORP.) ANNOUNCES DETAILS OF AGREEMENT WITH RILLDALE LTD.
SOCAL CAPITAL CORP. ANNOUNCES RESULTS OF CLINICAL TRIALS
SOCAL CAPITAL CORP. ANNOUNCES NAME CHANGE
EMPYREAN DIAGNOSTICS LTD. ANNOUNCES LICENSE AGREEMENT DETAILS
EMPYREAN DIAGNOSTICS INC. ANNOUNCES SUBSCRIPTIONS
Empyrean Diagnostics, Inc. Announces Listing on the OTC Electronic Bulletin Board
Empyrean Announces a Private Stock Placement to Launch Two New Products: Empirynol Hand Sanitizer and Empirynol Plus Contraceptive and Microbicide Gel

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters