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GeneMax Corp. (Formerly Eduverse.Com) (GMXX) Announces License From University of British Columbia For Technology Designed To Identify Small Molecule Regulators Of Immune Response


10/19/2005 5:10:04 PM

VANCOUVER, British Columbia, Feb. 19 /PRNewswire-FirstCall/ -- GeneMax Corp. (OTC Bulletin Board: GMXX; Frankfurt and Berlin: GX1) today announced that the Company's wholly owned subsidiary, GeneMax Pharmaceuticals Inc. has obtained the worldwide exclusive license from The University of British Columbia for a novel assay technology that can be used to screen and select new drugs that regulate immune responses. The technology was developed by Professor Wilfred Jefferies at the Biomedical Research Centre and Biotechnology Laboratory in Vancouver, Canada. The new technology has relevance to both cancers and viral diseases and in modulating transplant rejection and autoimmune diseases.

Ronald Handford, the Company's President remarked, "While our lead TAP technology has been engineered to treat a wide range of cancers, this novel assay technology should allow GeneMax to identify whole new classes of drugs to modify the immune system. Professor Jefferies and his team at the University have discovered a novel and exciting technology that could have a major impact on patient care. GeneMax is excited about the prospects of this invention identifying candidates to move rapidly into the clinic."

He further remarked, "As GeneMax is moving towards clinical trials of its TAP cancer vaccine technology, we are increasing our technology license base to complement this lead technology. GeneMax plans to add real value by building a product pipeline to attack diseases that can be addressed through immune-modulation. With this in mind GeneMax plans to establish a drug discovery division based on proprietary high-throughput screening assays in order to identify new drugs to increase and decrease immune responses."

GeneMax's lead therapeutic TAP product represents an immunotherapy for many forms of cancer including lung cancer, liver cancer, kidney cancer, head and neck cancer, breast cancer, melanoma, prostate cancer, colorectal cancer, and cervical cancer. These cancers are characterized by defects in the cellular, antigen presentation pathway, which results in the cancers becoming invisible to the immune system. GeneMax's lead TAP product is a therapeutic vaccine that enables a body's immune system to recognize the cancer cells as "foreign," kill them and thereby eliminate tumors from the body.

About GeneMax Corp.: GeneMax Corp. is a biotechnology company specializing in the discovery and development of immunotherapeutics aimed at the treatment and eradication of cancer, and therapies for infectious diseases, autoimmune disorders and transplant tissue rejection.

SAFE HARBOR STATEMENT

THIS NEWS RELEASE INCLUDES FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED. THESE STATEMENTS ARE MADE UNDER THE "SAFE HARBOR" PROVISIONS OF THE UNITED STATES PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS PRESS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS "ESTIMATE," "ANTICIPATE," "BELIEVE," "PLAN" OR "EXPECT" OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR GENEMAX CORP. INCLUDE BUT ARE NOT LIMITED THE RISKS ASSOCIATED WITH PRODUCT DISCOVERY AND DEVELOPMENT AS WELL AS THE RISKS SHOWN IN GENEMAX'S MOST RECENT ANNUAL REPORT ON FORM 10-KSB AND ON FORM 10-QSB AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING GENEMAX. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH OBTAINING GOVERNMENT GRANTS, THE SUCCESS OF PRECLINICAL AND CLINICAL TRIALS, THE PROGRESS OF RESEARCH AND PRODUCT DEVELOPMENT PROGRAMS, THE REGULATORY APPROVAL PROCESS, COMPETITIVE PRODUCTS, FUTURE CAPITAL REQUIREMENTS, AND GENEMAX'S ABILITY AND LEVEL OF SUPPORT FOR ITS RESEARCH ACTIVITIES. THERE CAN BE NO ASSURANCE THAT GENEMAX'S DEVELOPMENT EFFORTS WILL SUCCEED, THAT SUCH PRODUCTS WILL RECEIVE REQUIRED REGULATORY CLEARANCE, OR THAT EVEN IF SUCH REGULATORY CLEARANCE WERE RECEIVED, THAT SUCH PRODUCTS WOULD ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. GENEMAX DISCLAIMS ANY INTENT OR OBLIGATIONS TO UPDATE THESE FORWARD-LOOKING STATEMENTS.

GeneMax Corp.

CONTACT: Grant Atkins of GeneMax Corp., +1-800-872-0077 or+1-604-331-0400 or, fax, +1-604-331-0877


Read at BioSpace.com


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