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GeneNews Announces First Quarter Results

TORONTO, May 2 /PRNewswire-FirstCall/ - GeneNews Limited (TSX: GEN), a company focused on developing blood-based biomarker tests for the early detection of diseases and personalized health management, today reported operational and financial results for the first quarter ended March 31, 2008.

"During the quarter, we achieved several of the key milestones necessary to support the commercialization of our first product, ColonSentry(TM), a risk stratification test for colorectal cancer," said Dr. K. Wayne Marshall, President and CEO of GeneNews. "We remain on track to launch the laboratory-developed test (LDT) version of ColonSentry(TM) in the third quarter of 2008. The test will be administered as a service by our in-house clinical reference lab located at our headquarters just north of Toronto, Canada. This novel test will initially target the estimated 1.5 million people over the age of 50 in the Greater Toronto Area who should be screened for colorectal cancer, the vast majority of whom do not currently comply with screening guidelines."

Highlights in the first quarter:

- Reported positive results from a validation study of a panel of

six colorectal cancer biomarkers, confirming (p<0.05) that

the panel was able to stratify a population with average risk for

colorectal cancer into three defined risk groups (Increased, Average,

and Decreased Probability). The results were presented in a Late

Breaking Abstract at the annual meeting of the American Association

of Cancer Research (AACR), held in San Diego, California.

- Obtained ISO 13485:2003 certification for the design and development

of in-vitro diagnostic (IVD) test kits for the management of

colorectal disease status in a laboratory setting, following a

successful audit in December 2007.

- Expanded its Colorectal Cancer Clinical Advisory Board with the


SOURCE GeneNews Limited
Copyright©2008 PR Newswire.
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