ChondroGene Receives Conditional Approval to Trade on the Toronto Stock Exchange
Contemporaneous Name Change to GeneNews Limited and Symbol Change to GEN
TORONTO, CANADA (September 22, 2006): ChondroGene Limited (TSX Venture: CDG) announced today that it has received conditional approval to list its common shares on the Toronto Stock Exchange (TSX) subject to filing of final documentation. It is expected that the Company’s common shares will commence trading on the TSX by October 31, 2006. Contemporaneous with the listing on the TSX, the Company will change its name to GeneNews Limited and will trade under the symbol GEN. The Company received shareholder approval to change its name at the last Annual Meeting held on June 12, 2006. In conjunction with its move to the TSX, ChondroGene common shares will be de-listed from and cease trading on the TSX Venture Exchange.
"Listing on the TSX is a significant achievement for our Company and a natural progression in our growth," stated Dr. K. Wayne Marshall, MD, PhD, President and CEO of ChondroGene. "At the same time we will be changing our name to GeneNews Limited since we have broadened our focus beyond osteoarthritis and have applied our Sentinel Principle technology to many disease areas. GeneNews more accurately reflects the business of the company in taking a genomics approach to the study of all disease and the development of disease-specific tests such as ColonSentry™, our first commercial product."
About GeneNews
GeneNews is an emerging molecular diagnostics company focused on the application of functional genomics to enable early diagnosis and personalized health management based on disease-specific biomarkers. The Company has a patented core platform technology, the Sentinel Principle®, which has the power to detect and stage virtually any disease or medical condition from a simple blood sample. GeneNews is currently applying the Sentinel Principle® in major areas with unmet clinical needs such as cancer, arthritis, cardiovascular disease and neurological disorders. GeneNews launched its first commercial product, ColonSentry™, a blood-based test to pre-screen and assess an individual's risk for colorectal cancer, in Canada in 2008. The company's first US marketing partner, Enzo Clinical Labs, is expected to launch the ColonSentry™ test in New York and New Jersey in the second half of 2010. For more information on GeneNews and ColonSentry™, visit www.genenews.com or www.ColonSentry.com.
Forward-Looking Statements
This press release contains forward-looking statements, which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein. Investors should consult the Company's ongoing quarterly filings and annual reports for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements.