Genesis Bioventures Announces Restructuring Management Agreement

NEW YORK, Nov. 10 /PRNewswire-FirstCall/ - Genesis Bioventures, Inc. announced today that it has retained Experigen Management Company to lead its reorganization and restructuring. Experigen's founder, Douglas C. Lane, an executive with over 30 years experience in pharmaceutical, biotechnology, diagnostics and technology companies, will work closely with GBI's board of directors and officers to develop and execute the plan.

"Mr. Lane's management of business development and mergers and acquisitions at SmithKline Beecham (now GlaxoSmithKline), his interim board experience at Human Genome Sciences, the IPO development at Hyseq Corporation (now Nuvelo) and his recent leadership at the ViaSpace company, ViaLogy Corp., is an excellent fit with our breast cancer diagnostics company and our prion disease rapid assay company," said Mr. McCartney, Chairman and CEO of Genesis Bioventures. "We are very pleased to have Mr. Lane lead our growth initiatives."

"Genesis Bioventures is an undiscovered company with unique growth opportunities," Mr. Lane said. "I am looking forward to working with Mr. McCartney, the board and management to create strong value for the Company and its shareholders. There is an outstanding opportunity in GBI and its portfolio companies, with very good science and highly motivated and dedicated management and employees, all prerequisites to success."

About Experigen Management Company

Experigen offers experienced senior executive management services to public and private companies. The Company's founder, Douglas C. Lane, has international hands-on corporate experience ranging from public Fortune 50 companies to private technology start-ups through IPO.

About Genesis Bioventures, Inc.

Genesis Bioventures, Inc. is a biomedical development corporation focusing on the development and marketing of novel diagnostics and therapeutics in oncology and neurodegenerative diseases.

Statements in this press release that are not strictly historical facts are "forward looking" statements (identified by the words "believe", "estimate", "project", "expect" or similar expressions) within the meaning of the Private Securities Litigation Reform Act of 1995. These statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, changes in the regulatory environment, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. The statements in this press release are made as of today, based upon information currently known to management, and the Company does not undertake any obligation to publicly update or revise any forward-looking statements.

CONTACT: GBI Investor Relations, (604) 542-0820,, Experigen Management Company,; Aurelius Consulting Group, (800) 644-6297,,

Genesis Bioventures Inc.

CONTACT: GBI Investor Relations, (604) 542-0820,,, Experigen Management Company,,, Aurelius Consulting Group, (800) 644-6297,,

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