The Panic Channel, a new band featuring former Jane's Addiction guitarist Dave Navarro, bassist Chris Chaney and drummer Stephen Perkins, plus Skycycle vocalist Steve Isaacs, has recorded more than ha

The Panic Channel, a new band featuring former Jane's Addiction guitarist Dave Navarro, bassist Chris Chaney and drummer Stephen Perkins, plus Skycycle vocalist Steve Isaacs, has recorded more than half of its debut album. The as-yet-untitled set is being recorded by producer/engineer Brian Virtue, who worked on Jane's Addiction's 2003 Capitol reunion album, "Strays."

"We've got close to 10 or 11 songs written and we've recorded about seven," Navarro told Billboard.com last week during rehearsals for the Billboard Music Awards in Las Vegas, where he performed with Usher. "We're finishing up the album in January, and it's awesome."

Asked to describe the Panic Channel's sound, Navarro offered, "It's definitely rock. The best description I can give you is, if Rush was an alternative band with a little sense of goth. It's like a goth Rush."

The new band has played a couple of shows in Los Angeles so far, but is looking to tour extensively in 2005 once the album is complete. "That's why we're focusing on making this record, so we can try to get on a summer bill and have fun," Navarro said.

And while Navarro is signed to Capitol as a solo artist, the Panic Channel has yet to ink a label deal. "We'd like to stay at Capitol," he admitted. "So far, everything has been DIY. We financed the record and the shows. At this point, we're just doing it as well as we can on our own. If Capitol wants to get involved, we'd love it."

Fans can track the Panic Channel's progress on Navarro's blog, which he updates nearly every day. "I personally feel very lucky because I get to have that little homegrown, underground vibe and at the same time, I get to do things like rock out with Usher at the Billboard Awards," he said. "It's really the best of both worlds."

In addition to the Panic Channel's album, Navarro says the debut album by his cover band Camp Freddy is nearly complete as well. "We actually have a record recorded -- now we're just waiting to get all the guests on there," he said of the project, which has also featured Chaney, the Cult's Billy Duffy and Velvet Revolver's Matt Sorum. "That's a logistic nightmare; I'm sure you can imagine!"

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