Genizon BioSciences Inc. Secures $12 Million; Company To Conduct Additional Whole-Genome Association Studies Generating Novel Drug Targets

MONTREAL--(CCNMatthews - Mar 29, 2006) -Genizon BioSciences today announced it has closed a $12.4 million first tranche of a secured convertible debenture financing. "This additional funding allows the company to substantially add to its inventory of GeneMaps and drug targets directly implicated in common diseases," said John Hooper, Ph.D., president and CEO of Genizon. "The assets to be generated with this funding can be rapidly taken downstream to develop valuable new drugs and diagnostics."