Message #7 From:
Stock News Bot Date: July 19, 2005 02:00:00 AM
GTHA News GeneThera, Inc. Signs Contracts with Xpention Genetics and Begins Transition from Development Company to Commercial Enterprise
WHEAT RIDGE, Colo.--(BUSINESS WIRE)--July 19, 2005--GeneThera, Inc. (OTCBB:GTHA) is pleased to announce that with the signing of its first two contracts with Xpention Genetics, Inc. (OTCBB:XPNG), the company has started their transition from a development company to that of a revenue-generating commercial enterprise.
The Company executed two contracts on May 28, 2005, with Xpention Genetics that calls for GeneThera to provide research services to Xpention for development of a commercial cancer detection test in animals and humans.
The first contract, which runs for one year at $20,000 per month, calls for GeneThera to develop a cancer detection test for animals.
The second contract, which begins in August and also runs for one year at $10,000 per month, is for GeneThera to extend the test into human testing.
A third contract with another company is slated to begin in September at comparable monthly revenues.
Commenting on this transition from research company to commercial company, Chief Executive Officer Dr. Tony Milici said: "This is an exciting time for GeneThera. After many years of being a research company, it is with great pleasure that I can announce our first commercial contract that will generate revenues for the company going forward. Our research and development service being utilized by Xpention is a business unit of the Company that we expect great things out of both now and in the future. We expect many more of these type and scope of contracts that should provide the Company with sustainable revenues and the organic growth our business plan outlines."
"Additionally, with the announcement last week of our collaboration with Beckman-Coulter (NYSE:BEC), we are thrilled about furthering the commercial possibilities of our Ante-Mortem test for several animal diseases," continued Dr. Milici.
Xpention Genetics, Inc. is a biotechnology company that was formed to develop both immunological and molecular tests for cancer detection in animals and humans as well as therapeutic vaccines and other treatment.
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 Chronic Wasting Disease, a disease affecting elk and deer in North America; E.Coli 0157:H7 and Johnne's Disease, diseases affecting cattle worldwide. Future plans include all infectious disease potentially affecting domesticated livestock as well wildlife intended for human consumption, particular priority being given to Mad Cow and Foot & Mouth diseases in cattle.
"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.
