ChondroGene Announces Name Change to GeneNews
Listing and Symbol Change to GEN expected on or about October 26, 2006
TORONTO, CANADA (October 23, 2006): ChondroGene Limited (TSX Venture: CDG) announced today that the Company has changed its legal name to GeneNews Limited by filing Articles of Amendment on October 20, 2006.
The Company also reported that it expects its common shares will be listed on the Toronto Stock Exchange (TSX) and begin trading under the symbol 'GEN' at the open of trading on or about Thursday, October 26, 2006, subject to receiving final approval from the TSX. The Company also intends to de-list and cease trading of its common shares on the TSX Venture Exchange at close of trading on the trading day immediately preceding the anticipated listing on the TSX. The Company, therefore, expects that its common shares will continue to trade on the TSX Venture Exchange under the symbol 'CDG' until the close of trading on or about October 25, 2006.
ChondroGene received conditional approval to list its common shares on the TSX on September 20, 2006 and shareholder approval to change its name to GeneNews Limited at its last Annual Meeting held on June 12, 2006.
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.