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Amarillo Biosciences, Inc.: Amarillo Biosciences Agrees to Relocate Company to Junction City, Kansas

^{Published on 2009-01-14 09:24:08, Last Modified on 2009-01-14 09:24:56 - Market Wire}
 

AMARILLO, TX--(Marketwire - January 14, 2009) - Amarillo Biosciences, Inc. (AMAR) (OTCBB: [ AMAR ]) today announced that the Board of Directors has agreed to accept a relocation package of financial incentives from Junction City, Kansas and the State of Kansas. The proposed city and state incentives are in the form of a stock purchase, loans, grants, research vouchers, low rent, tax relief and training funds. Under the terms of the Agreement, Amarillo Biosciences will move all operations to Kansas before the end of the second quarter of 2009. Junction City is expected to nominate a member to the AMAR Board of Directors.

Dr. Joseph M. Cummins, President and CEO of ABI, said, "This agreement is of major significance to ABI because these funds will help support studies of low dose oral interferon in patients with hepatitis C, influenza and chronic cough, three major diseases which impact millions of people worldwide annually. We are especially pleased by the professionalism and diligence which Junction City and Kansas state officials have demonstrated in our dealings to date, and are also pleased that they share our vision in the promise that our low dose oral interferon can be a therapeutic agent against a wide array of medical conditions."

About Amarillo Biosciences, Inc.

Amarillo Biosciences, Inc. is a U.S. biotechnology firm operating in global partnership with the Hayashibara Group, which owns 10.5% of Amarillo Biosciences shares and has provided over $18 million in loans, grants and equity investments to the company. Amarillo Biosciences' primary focus involves extensive and ongoing R&D into the utilization of low-dose, orally administered interferon as a treatment for a variety of conditions, including chronic cough (COPD), influenza, and opportunistic infections in patients who are HIV positive. In its 23-year history, the Company has invested nearly $39 million to establish oral interferon as a therapeutic agent. The majority of those funds were invested in clinical trials in an effort to achieve FDA approval for low-dose oral interferon. Additional information is available on the web site at [ http://www.amarbio.com/ ].

Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties, including uncertainties related to product development, uncertainties related to the need for regulatory and other government approvals, dependence on proprietary technology, uncertainty of market acceptance of oral interferon or the Company's other product candidates and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. In particular, see "Item 1. Description of Business" of the Company's Form 10-KSB for the year ended December 31, 2007.