WALTHAM, Mass.--(BUSINESS WIRE)--Nov. 4, 2003--Interleukin Genetics, Inc (OTCBB:ILGN - News) announced today that it has acquired approximately 5% of the outstanding equity of Molecular SkinCare Limited, a start-up biotechnology company located in Sheffield, England, in exchange for granting to Molecular SkinCare and Asterion Limited, an affiliate of the University of Sheffield, rights in certain intellectual property originally licensed to Interleukin by the University. The equity was transferred to Interleukin Genetics by the University of Sheffield. The transaction did not involve the payment of cash or issuance of stock by Interleukin Genetics. About Interleukin Genetics
Interleukin Genetics is a biotechnology company focused on inflammation. The company uses functional genomics to develop diagnostic, nutritional and therapeutic products based on the genetic variations in people to help prevent or treat diseases of inflammation. Interleukin's TARxGET (Translating Advanced Research in Genomics into more Effective Therapeutics) programs focus on the areas of cardiovascular disease, osteoporosis, rheumatoid arthritis and Alzheimer's disease. Interleukin expects that these programs will produce products that will personalize the selection of nutritional and therapeutic products and enable the managed care industry to improve patient care and better allocate resources. For more information about Interleukin and its ongoing programs, please visit http://www.ilgenetics.com.
About Molecular SkinCare Limited
Molecular SkinCare Limited is a newly-formed company spun out by the University of Sheffield Medical School focused on the discovery and the development of new topical treatments for skin diseases such as eczema, psoriasis, contact irritant dermatitis and potentially skin cancers.
Certain statements contained herein are "forward-looking" statements including statements regarding our future development of dermatology-focused genomics and our ability to identify people at risk for cardiovascular disease, to direct prevention measures to and develop interventions for those individuals to reduce their increased risk for cardiovascular disease, to develop diagnostic, personalized nutritional and therapeutic products to prevent or treat diseases of inflammation and to enable the managed care industry to improve patient care and better allocate resources.. Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, market acceptance of genetic risk assessment tests in general and our products in particular, our dependence on our controlling stockholder, Pyxis, and its affiliates, our ability with our research and marketing partners to successfully and timely develop and market genetic test, nutritional and therapeutic products, our receipt of anticipated royalty and milestone payments, changing technology and product obsolescence, competition and those other risks and uncertainties described in our Form 10-Q for the quarter ended June 30, 2003, as amended, and in other filings made by us with the Securities and Exchange Commission. We disclaim any obligation to update these forward-looking statements.
Interleukin Genetics, Inc. Fenel Eloi, 781-398-0700
Source: Interleukin Genetics, Inc.