Pasadena Biotechnology Firm Moves Headquarters to Tustin

AMDL Inc., a biotechnology company in Pasadena, said Monday it is moving its headquarters to Orange County next Monday.

Company spokesman Charles Versaggi said the decision to move to Tustin was based on economics. "They needed to move into a bigger space and they got a good deal in Tustin," he said.

Versaggi added that the company needed to increase the size of its facility to more than 5,000 square feet. New distribution and financing agreements provided the company with the cash infusion it needed to make the move.

AMDL also has signed an agreement with Briana Bio-Tech Inc. to market its cancer monitoring equipment. AMDL also said it has hired Capital Alliance Corp. to help it raise $5 million in new capital to run clinical trials of its products.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World