LONDON--(Marketwire - May 06, 2010) -
ChromoCure, Inc. (PINKSHEETS: KKUR
) and Genome Research Group announce today completing their previously announced Merger and Acquisition Agreement. The Companies combine to create a new era in cancer research.
The Agreement has a final valuation of $29,000,000 representing the valuation of the GRG operations and assets, including GRG's proprietary advanced therapeutic modeling protocols and algorithms utilizing hypothermic modulation and resonance. Included also is GRG's therapeutic results and findings, methodologies and proprietary knowledge in the non-toxic and non-invasive treatment of cancer.
The updated financials reflecting the $29 million asset acquisition, merger and resultant share restructuring, together with updates on name change, new website and other operational updates will be released as part of the Company's ongoing OTC disclosure practices.
The amalgamate company, under new GRG management, will integrate both Companies' operations and Intellectual Property (IP) assets, be renamed Genome Research Group and move its main operations to GRG's base in London, UK. The Company will continue its collaboration and research initiatives in the United States as well as expanding these efforts throughout Europe.
The combined entity will possess complementary detection and therapeutic technology and protocols, comprised of ChromoCure's advanced detection system and GRG's full line of therapeutic protocols and technology; allowing for the first time real-time progression monitoring and remission detection -- providing the world's first cure research fully integrated system for the precise measurement of treatment and results.
Management believes the transaction to be of significant long-term shareholder value and furthers the Company's transition to research, technology development, and licensing as a source of significant long-term and recurring revenues and equity appreciation.
The Company believes its technologies provide the foundation for significant advances in diagnosis, therapy and cure. The Company recently announced its Therapy and Cure initiatives with Project Boveri: Find the Cure. Shareholders can expect further updates on research collaborations, laboratory partnerships, and research initiatives.
In line with the Company's goal is to establish a worldwide network of diagnostic and research collaborations with continuous collection of cancer specimen and test result data, the Company recently announced the Euro Zone launch of its Pathologist Collaborative Research (PCR) Program in support of the groundbreaking Project Boveri: Find the Cure Initiative; as the companies leverage their combined technologies, research knowledge and industry relationships.
About Genome Research Group, Inc.
The Company develops and provides proprietary cancer detection systems and related therapeutic technologies. The Company's proprietary cancer detection system locates and measures unique genomic characteristic found in 100% of all cancers and never found in normal cells. The Company's detection technology has a proven and effective accuracy of 100% for all cancers at all stages. The Company's proprietary Therapeutic Modeling Protocols provide statistical modeling and prediction tools for the measurement and monitoring of cancer progression and remission. The Company also applies its technology and knowledge to cancer cure and therapeutics research. The Company owns proprietary cancer detection systems and related therapeutic technologies and proprietary techniques for non-toxic and non-invasive cancer therapy utilizing hypothermic modulation and resonance. The Company's proprietary CS200 Chromosomal Scanner has been proven accurate and efficient in the measurement of the unique genomic characteristic found in 100% of all cancers and never found in normal cells. The Company's detection technology has an effective accuracy of 100% for all cancers at all stages. GRG's advanced Therapeutic Modeling and Treatment Protocols combined with its industry and medical research collaborations validate its leadership role in Cancer Detection, Therapy and Cure.
The Company believes its technology will become the worldwide gold standard for cancer detection, progression measurement, and research for both therapy and cure. The Company also applies its technology and knowledge to cancer cure and therapeutics research.
This release contains statements or projections regarding future performance that is forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. The company's filings contain various RISK FACTORS (and are incorporated herein by reference) and should be read before any investment decision.