PanaMed Corporation (PANA)

[jmhollen]

PanaMed Launches Operations as a Public Company

CAMARILLO, Calif.--(BW HealthWire)--March 5, 2002--PanaMed Inc. and Micron Solutions Inc. (OTCBB:MCSU - news) Tuesday announced they have completed a successful reorganization of management and the company has formally commenced operations as PanaMed Corp.

The ticker symbol will be changed to reflect the new company name within the next 10 days. ( PANA )

PanaMed has obtained exclusive licensing rights to distribute a proprietary line of immuno-modulating therapeutic compounds for the treatment of HIV/AIDS. Anecdotal human case study trials have shown the therapeutics to be effective in reversing the viral load to a non-detect level and maintaining the non-detect level over a five-year period of time.

In addition, the therapeutics are expected to provide a number of advantages over conventional AIDS medication, including: simple to administer (no shots), minimal side effects, effective against different HIV viral derivatives, cost effective, and non-patient specific. The therapeutics are particularly suitable for large scale patient treatment programs.

PanaMed plans to launch formal clinical trials, in April 2002, within the continent of Africa. Africa was chosen as the starting point for PanaMed's clinical trials and treatments due to its sizable base of AIDS patients which have not been exposed to conventional AIDS medication.

Although the therapeutics are expected to be effective when used in conjunction with or after conventional treatments, PanaMed prefers to work with patients which have not been previously so as to clearly show the effects of the therapeutics.

After successful completion of these trials, PanaMed plans to launch a massive distribution program to provide low-cost treatments to the tens of millions of people infected with this disease.

A press release issued earlier this year (http://www.who.int/inf/en/pr-2002-06.html) from the World Health Organization (WHO) and supporting organizations (UNICEF, UNAIDS, World Bank, UNESCO and UNFPA) announced a new report entitled ``Scaling Up the Response to Infectious Diseases: A Way Out of Poverty.''

The report calls for new investments in the treatment and prevention of TB, Malaria and HIV/AIDS through known interventions. ``Almost 6 million people are killed every year by HIV/AIDS, TB, and Malaria alone,'' said Carol Bellamy, UNICEF's executive director.

She goes on to say, ``Malaria and HIV are some of the major causes of stagnating, and in some cases, rising infant and under-five mortality in Africa. Tackling these, as well as addressing other important childhood disease will be essential to reaching the Millennium Development Goals for children.''

``We are very much encouraged by the recent announcements made by WHO and supporting organizations to provide future investments in the treatment of HIV/AIDS,'' stated Phil Butler, chief executive officer of PanaMed. ``In the past, WHO (and most AIDS-related foundations) have allocated sizable financial resources for AIDS prevention/education, without providing funding for treating the disease.

``With these funds becoming available, large-scale treatment programs can become a reality. It's PanaMed's objective to become a key contributor in resolving the HIV/AIDS health problems in Africa, which continue to destroy the economy and livelihood of the African people.''

About PanaMed

PanaMed was founded as a private company in August 2001 for the primary purpose of testing and distributing a proprietary line of therapeutics used for reversing HIV/AIDS. Quintek Technologies Inc. (OTCBB:QTEK - news) assisted in launching PanaMed and later acquired a 10 percent equity position in the company through a stock swap transaction.

In February 2002, PanaMed entered into a reorganization agreement with Micron Solutions Inc. to combine the assets, liabilities and operations of the two companies, with PanaMed management assuming control of the combined entity.

For more information on PanaMed, please contact TwoTrades.com at 888/577-6898.

Contact: PanaMed Chip Parrish, 888/577-6898