NEW YORK, Feb. 2 /PRNewswire-FirstCall/ - Genesis Bioventures, Inc. announced today that Mammastatin, the breast cancer marker exclusively licensed to its wholly-owned subsidiary, Biomedical Diagnostics, LLC (Biomedical), has been granted additional patent protection through a Deed of Letters Patent recently issued to the University of Michigan by the Australian Patent Office.
Biomedical is currently developing the Mammastatin technology for use in its Mammastatin Serum Assay (MSA), a breast cancer risk assessment tool.
“We are very pleased with this positive development for Biomedical,” said Douglas C. Lane of Experigen Management Company. “Not only does patent grant allow Biomedical to offer its proprietary MSA test in Australia, where one in eleven women of the ten million women population will develop breast cancer during their lifetime, it further validates the global patentability of the Mammastatin technology.”
“This is one piece of the domestic and international intellectual property protection strategy we have implemented with the University of Michigan,” noted Jim Arthurs, president of Biomedical. “The issuance of this patent is very important as we gain further regulatory approval and market presence for the Mammastatin technology internationally. This newest patent grant expands our worldwide patent protection for MSA.”
The MSA was initially developed at the University of Michigan Cancer Center and is licensed exclusively to Biomedical by the university through Genesis Bioventures for scientific and commercial development as a blood test to assess women’s health. In scientific correlation studies women who tested high with the MSA assay showed to have lower risk of breast cancer than women who tested low.
More information about Biomedical Diagnostics and the MSA test can be found at www.bio-diagnostics.com.
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.
About Experigen Management Company
Experigen is a management company retained by Genesis Bioventures, Inc. to develop and advance GBI’s investment portfolio, financing and operations.
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, gbi@gnsbio.com, http://www.gnsbio.com Experigen: (310) 443-4100, info@experigen.com, http://www.experigen.com
Genesis Bioventures, Inc.
CONTACT: GBI Investor Relations: (604) 542-0820, gbi@gnsbio.com,www.gnsbio.com; Experigen: (310) 443-4100, info@experigen.com,www.experigen.com
