AMDL to acquire Jade Pharmaceutical, two subsidiaries

By Lisa Kerner

Erie, Pa., May 17 - AMDL, Inc.'s board of directors unanimously approved the stock purchase agreement for the acquisition of Jade Pharmaceutical, Inc. and its two wholly owned subsidiaries, JiangXi JieZhong Jade Bio-Chemistry Pharmacy Co. Ltd. and Yangbian Yiqiao Bio-Chemistry Pharmacy Ltd. of China.

AMDL will issue 13.715 million shares of its common stock and options to purchase an additional 2.5 million shares, exercisable at 115% of the closing price on the Amex on the day prior to the closing as consideration for the two companies.

The net worth of the Jade entities at Dec. 31 was $6.2 million, according to a news release.

Jade has two manufacturing plants in China that collectively manufacture 133 licensed products, including various large and small volume injectable fluids, tablets, capsules and tinctures.

AMDL is a theranostics company based in Tustin, Calif.

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