TORONTO, Oct. 27 /CNW/ - GeneNews Limited, a company focused on developing blood-based biomarker tests for the early detection of diseases and personalized health management, today announced that it has entered into an agreement allowing Eli Lilly and Company (NYSE: LLY - News) select access to research from its osteoarthritis genomic biomarker program. Terms of the agreement were not disclosed.
"Our recently patented platform technology for the discovery of blood-based biomarkers, the Sentinel Principle(R), can be applied to identify biomarkers for virtually any disease or condition and was extensively validated in our osteoarthritis program," said Dr. Heiner Dreismann, Lead Director and Interim CEO of GeneNews. "This agreement brings us together with our third multi-national partner and is a positive reflection of the quality of our work and experience in creating value for GeneNews and our partners."
Eli Lilly and Company is developing a growing portfolio of pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaborations with eminent scientific organizations. Headquartered in Indianapolis, Indiana, Lilly provides answers - through medicines and information - for some of the world's most urgent medical needs.
About GeneNews
GeneNews is focused on the application of functional genomics to enable early diagnosis and personalized health management based on disease-specific biomarkers. The Company has developed a novel approach, the Sentinel Principle(R), to detect and stage virtually any disease or medical condition from a simple blood sample. GeneNews is currently applying the Sentinel Principle(R) in major areas with unmet clinical needs such as cancer, arthritis, cardiovascular disease and neurological disorders. GeneNews launched its first commercial product, ColonSentry(TM), a blood-based test to assess an individual's risk for colorectal cancer, in Canada in 2008. For more information on GeneNews and ColonSentry(TM), visit www.genenews.com or www.colonsentry.com.
This press release contains forward-looking statements, which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein. Investors should consult the Company's ongoing quarterly filings and annual reports for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements.
For further information
Gailina Liew, Chief Operating Officer, (905) 739-2036, gliew@genenews.com
Casey Gurfinkel, (416) 815-0700 x 283, cgurfinkel@equicomgroup.com