GeneThera, Inc. Announces Plans to Add Therapeutic Testing Component to Johne's Disease Diagnostic Program
Published: Aug 25, 2009
ARVADA, CO--(Marketwire - August 25, 2009) - GeneThera, Inc. (PINKSHEETS: GTHR), an international biotechnology company, today announced a major expansion of its previously reported efforts to commercialize a diagnostic platform for Johne's disease, an infectious, fatal and as yet incurable bacterial disease that affects the intestinal tract in livestock. The Company said it is preparing to enter into a formal license agreement with two Italian universities, Universita di Roma "Tor Vergata" (UNIROMA 2) and Universita Cattolica del Sacro Cuore (UCSC), which have jointly developed a potential therapeutic solution for the disease. As previously announced, GeneThera also is working in collaboration with the Universidad Nacional Autonoma de Mexico (UNAM) on a diagnostic test for the disease.
Dr. Tony Milici, founder and CEO of GeneThera, said, "Newly developed liposomes have been tested by two leading Italian universities and have revealed potentially promising therapeutic benefits in the treatment of Johne's disease. Our objective is to study the immunotherapeutic value of these liposomes in cattle that test positive for the disease through our upcoming diagnostic testing program."
Dr. Milici added, "The successful development of both a diagnostic and therapeutic solution to Johne's would be of major benefit to the global dairy and livestock industries, both of which have experienced extensive financial losses due to this disease. Our ability to commercialize these platforms would be a milestone achievement for GeneThera, our industry and academic partners, as well as our shareholders."
GeneThera has been preparing to lead a major testing effort of a new Johne's disease diagnostic platform in Monterrey, Mexico. The Company has reached an agreement with Roche Diagnostics, which will provide specialized robotic equipment and real-time thermo cyclers that will serve as the molecular diagnostic platform for the testing. GeneThera also has entered into an agreement with UNAM, which will support GeneThera's diagnostic testing programs in part by providing access to livestock.
"The expansion of our diagnostic testing to include a potential therapeutic solution has obviously slowed our previously announced developmental timelines," Dr. Milici said. "However, we believe the potential benefits of introducing a comprehensive solution for both the identification and treatment of Johne's disease will more than justify these delays." Dr. Milici said the Company hopes to announce a final licensing agreement with the two Italian universities in the next six to eight weeks.
About GeneThera, Inc.
GeneThera, Inc. is a biotechnology company focused on the development of molecular assays. The Company is currently in the process of developing therapeutic vaccines for the detection and prevention of food contaminating pathogens, veterinary diseases, and diseases affecting human health. More information about the Company can be found at: http://www.genethera.net.
About Pfeiffer High Investor Relations, Inc.
Pfeiffer High is a full-service investor relations firm based in Denver. Since 1982 it has been helping public companies maximize shareholder value by implementing comprehensive investor relations programs that raise awareness among buy- and sell-side analysts, institutional portfolio managers, brokers, individual investors and the financial media.
Safe Harbor Statement
Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995, including statements regarding our entrance into a formal license agreement with two Italian universities; the potentially promising therapeutic benefits of certain liposomes in the treatment of Johne's disease; the likelihood that our diagnostic testing program will be successful; the benefits, if any, of our testing programs to the global dairy and livestock industries; and the likelihood that the Company will announce a final licensing agreement with the two Italian universities in the next six to eight weeks. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from forecasted results. Factors that could cause or contribute to such differences include, but are not limited to, our ability to raise capital, our ability to execute our business strategy in a very competitive environment, our degree of financial leverage, risks relating to rapidly developing technology, regulatory considerations, risks related to international economies, risks related to market acceptance and demand for our products and services, the impact of competitive services and pricing, and other risks referenced from time to time in our SEC filings. All subsequent written and oral forward-looking statements attributable to us, or anyone acting on our behalf, are expressly qualified in their entirety by these cautionary statements. We do not undertake any obligations to publicly release any revisions to any forward-looking statements to reflect events or circumstances after the date of this press release or to reflect unanticipated events that may occur.
Dr. Tony Milici
Pfeiffer High Investor Relations, Inc.