Message #12 From:
Stock News Bot Date: October 24, 2005 02:00:00 AM
GTHA News GeneThera Recaps Milestone Ladened Q3; BSE/Mad Cow Live Animal Testing Agreements Consummated; Transitions from Development Company to Revenue-Generating Commercial Enterprise
WHEAT RIDGE, Colo.--(BUSINESS WIRE)--Oct. 24, 2005--GeneThera, Inc. (OTCBB:GTHA) is pleased to recap milestone achievements realized during the third quarter of 2005. As outlined in the company's strategic business plan, these achievements represent the company's graduation from a development entity to a revenue-generating company. Alliances and collaborations consummated during the quarter open the door to the validation and commercialization of GeneThera's proprietary diagnostic technologies.
On July 11, 2005, the company announced a strategic collaboration and alliance with multi-national, Fullerton, California-based Beckman Coulter, Inc. (NYSE:BEC). Beckman Coulter is a recognized leading manufacturer of biomedical testing instrument systems, tests, supplies, pioneering medical research and clinical trials. Beckman Coulter's 200,000 installed systems, supplies, test kits and services accounted for $2.4 billion in annual sales for 2004. For more information, visit www.beckmancoulter.com.
The growing global recognition and increased diagnosis of chronic brain wasting diseases, Transmissible Spongiform Encephalopathy (TSE) and variant forms such as Bovine Spongiform Encephalopathy (BSE), generally referred to as Mad Cow Disease, variant Creutzfeldt-Jakob disease (vCJD) -- human form of Mad Cow Disease, and Chronic Wasting Disease (CWD) in deer and elk, has ignited an urgency for a validated live testing diagnostic test. Current testing methods are conducted only on a post-mortem basis.
The collaboration between GeneThera and Beckman Coulter opens the door to the validation of GeneThera's proprietary live diagnostic technologies. The agreement calls for GeneThera to perform live animal testing for TSE. Beckman Coulter will perform its licensed BSE post-mortem test to compare results. Both parties will share data pertaining to the validation of GeneThera's live animal blood tests for several animal diseases. Beckman Coulter has been granted the first right of refusal to license GeneThera's patented technology.
Beckman Coulter, Inc., Mr. Chris Neary, General Manager, Prion Business Center, stated, "We are looking to work with GeneThera to identify commercial applications of their technology."
On July 19, GeneThera announced the execution of an agreement with Xpention Genetics (OTCBB:XPNG), a biotechnology company that intends to develop both immunological and molecular tests for cancer detection in animals and humans, as well as therapeutic vaccines and other treatments. For more information, visit http://www.xpention.com/.
On the heels of GeneThera's launch of its new R&D Services Division in 1Q 2005, GeneThera was contracted by Xpention to develop a molecular diagnostic cancer test for use on canines. This agreement represents the first revenue-generating agreement for this new division.
On July 25, the company announced a strategic alliance partnership with Mexico-based Nutricion Avanzada Internacional S.A. de CV. Headquartered in Monterrey, Mexico, the center of Mexico's cattle industry, Nutricion Avanzada Internacional is the largest multinational distributor of nutritional supplements for animals, and a key player in Mexico's cattle industry.
A key initiative outlined in the company's strategic business plan calls for the establishment of independent laboratories for the purpose of implementing its live animal testing for BSE. This alliance affords GeneThera a presence in Mexico and access to Mexico's large cattle industry. GeneThera, Nutricion Avanzada, and Beckman Coulter will work in a conjunctive effort to implement GeneThera's live animal testing protocol to validate the technology.
On September 14, the company announced that negotiations are quickly progressing with the Italian Government to establish a collaborative facility to further research Mad Cow Disease and perform live animal testing. Italy and the European Community have experienced great economic hardship due to the spread of Mad Cow Disease. The destruction of cattle herds has placed undue economic burden on farmers, ranchers and the Italian Government. A live animal testing protocol for Mad Cow Disease would allow for the isolation and destruction of infected animals, not the complete herd.
Dr. Tony Milici, CEO of GeneThera, said: "This was an extraordinary quarter for us. We realized objectives outlined in our aggressive business plan. We have booked revenues from our new R&D division, and the alliances to validate our live animal testing platform are becoming a reality in Mexico and Italy. Our technology is derived from human pathology, and by addressing animal diseases that affect humans, we can identify the source that may lead to vaccines for both animals and humans."
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 health-care 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 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.
"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.
