Moving Towards Improved Colon Cancer Detection
Innovative Molecular Diagnostics Company Moves to Facilities in Richmond Hill
TORONTO, CANADA (December 4, 2007):
GeneNews Limited (TSX:GEN) will hold a grand opening reception on December 10, 2007 to mark the official opening of its new headquarters and research laboratory in Richmond Hill, located in the Greater Toronto Area. David Barrow, Mayor of the Town of Richmond Hill, will preside over the official ribbon cutting ceremony along with Councillor Godwin Chan, starting at 3:30 p.m. The Mayor will also present GeneNews with a commemorative plaque and will speak at a reception on site where invited guests will have the opportunity to tour the new facility.
GeneNews is working to develop blood tests for the prevention and early detection of diseases. The new building will accommodate growth as GeneNews moves to commercialize its lead oncology detection product. This test, ColonSentry™ works by sensing the molecular “news” from particular genes expressed in the blood and interprets this information to determine whether colon cancer or precancerous polyps are present in the body. The test is expected to improve the frequency of screening for this preventable disease.
“We are very excited to join the growing community of the Town of Richmond Hill and appreciate the tremendous support that we have received in locating our state-of-the-art facilities here.” said Gailina Liew, LLB, MBA, Senior Vice President of GeneNews.
GeneNews currently has a team of 54 highly qualified personnel. Recently re-located to 2 East Beaver Creek Road, Building 2 in Richmond Hill, the company occupies the building’s 24,000 square feet of laboratory and office space. The addition of this life sciences company to Richmond Hill complements the area’s strong local base of high tech, professional and scientific businesses.
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.