Message #11 From:
Stock News Bot Date: September 14, 2005 02:00:00 AM
GTHA News Mad Cow Disease Live Testing Facility Talks Progress between Italian Government and U.S.-Based GeneThera, Inc.
WHEAT RIDGE, Colo.--(BUSINESS WIRE)--Sept. 14, 2005--In line with its strategic direction to commercialize a live animal test for Mad Cow Disease and several other veterinary diseases, GeneThera (OTCBB:GTHA) announces that it has progressed with negotiations with the Italian government to open a GeneThera laboratory and testing facility in Northern Italy.
The initial introductions between GeneThera and Italy were arranged under the guidance of Mr. Marco Mavilla, representative of InvestInItaly in Los Angeles, and progressed in Italy under the direction of Ms. Cinzia Tecce, based in InvestInItaly's headquarters in Rome.
Commenting on the talks between the parties, Dr. Tony Milici, CEO of GeneThera, said: "The Italian government has enthusiastically listened to GeneThera and the science behind our live animal test. Both parties are moving ahead quickly to establish a collaborative facility to increase operations for GeneThera in the European Community and to further both GeneThera's research and the research of the Italian scientists working on Mad Cow testing."
Mr. Marco Mavilla of InvestInItaly in Los Angeles said: "We are very pleased to have been able to bring GeneThera and its outstanding scientific work to the attention of my government. The goal of our organization is to promote business opportunities and industrial co-operation between Italy and foreign companies."
Ms. Cinzia Tecce of InvestInItaly in Rome added, "This is a great example of how the National Organization for Investment Promotion, with the full support of the Italian Government, can fulfill its stated mission to support productive and entrepreneurial development within our country."
Dr. Milici added: "We believe GeneThera has found an excellent partner government to work in conjunction with to advance the study of Mad Cow Disease. As always, our ultimate goal at GeneThera is to eliminate the destruction of all animals that have been in contact with an infected cow by the use of a live animal test. Herd destruction has a great economic impact on ranchers and the general populace -- the Italian government realizes this and is progressively attacking the problem. Italy has always been on the forefront of this research and I welcome the opportunity to work more closely with this excellent group of scientific minds."
About GeneThera, Inc.
GeneThera, Inc. is a molecular biotechnology company located in Wheat Ridge, Colo. The Company provides genetic diagnostic solutions for the veterinary and agricultural industries with future plans to include the healthcare industry. The Company's proprietary diagnostic solution is based on a genetic expression assay, GEA(TM), a protocol designed to function on a highly automated Fluorogenic PCR platform. This platform enables GeneThera to offer tests that are presently not available from other technologies. The GEA(TM) is designed for a host of individual diseases, the current priority being Mad Cow Disease, Chronic Wasting Disease, a disease affecting elk and deer in North America; E.Coli 0157:H7 and Johnne's Disease.
About InvestInItaly
As an institutional joint-project between Sviluppo Italia -- the National Agency for Enterprise and Inward Investment Development -- and the Italian Trade Commission -- the Government Agency which promotes the internationalization of Italian companies -- InvestInItaly acts as a single reference point for foreign companies looking for winning solutions to expand their business in Italy. Moreover, InvestInItaly represents Italy's national trademark for all promotion activities focused on the country's competitive factors and aimed at encouraging the development of new investment projects in the international business community.
InvestInItaly offers foreign companies a full spectrum of professional services throughout the investment process: from location scouting to the set-up phase, from incentives negotiations to Public Administration dealings and after-care services.
"Safe Harbor" Statement: Certain statements in this release are "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to numerous risks and uncertainties. Actual results may vary significantly from the results expressed or implied in such statements. Factors that could cause actual results to materially differ from forward-looking statements include, but are not limited to, the Company's ability to meet the terms and conditions required to obtain its project financing, risks and delays associated with product development, risk of market acceptance of new products, risk of technology or product obsolescence, competitive risks, reliance on development partners and the need for additional capital.
