The agreement is subject to various conditions and is expected to close in early January 2000. The proprietary lung cancer test evolved from research performed at the University of Maryland, Baltimore by a team under the direction of Dr. Edward Highsmith. Lung cancer is the leading cause of cancer deaths worldwide. The development of the colon cancer screening test is currently being conducted at North Shore University Hospital in Manhasset, New York, under the direction of Dr. Siamak Tabibzadeh, the developer of the test. Lexon recently announced the production of a polyclonal antibody to the ebaf protein and successful characterization of the polyclonal antibody.
Colon cancer is the second leading cause of cancer deaths.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, without limitation, the ability of Lexon, Inc. to accomplish its stated plan of business. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Lexon or any other person that the objectives and plans of Lexon will be achieved.