GeneNews to Begin Trading on TSX on October 26, 2006
Former ChondroGene Graduates with New Symbol: GEN
TORONTO, CANADA (October 25, 2006): GeneNews Limited (TSX Venture: CDG) is pleased to report that its common shares will commence trading on the Toronto Stock Exchange ('TSX') at the open of trading on October 26, 2006 under the symbol 'GEN'.
The common shares of GeneNews Limited™ (formerly ChondroGene Limited™) which are currently listed and trading on the Toronto Venture Exchange ('TSX-V') under the symbol 'CDG' will be de-listed and cease trading on the TSX-V after October 25, 2006, as a result of the Company's graduation to the TSX. The Company’s common shares will thereafter be listed and tradable on the TSX under the symbol 'GEN'.
"Our graduation to the TSX is an important milestone for us as we continue with the development and commercialization of our first product, ColonSentry™", stated K. Wayne Marshall, President and CEO of GeneNews. "The listing of our shares on the TSX will enhance our visibility in the public markets and make our Company shares accessible to a new group of retail and institutional investors."
The Company received conditional approval to list its common shares on the TSX on September 20, 2006, and received 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.