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GeneNews Announces First Quarter Results
Date:5/2/2008

products in the Company's pipeline.

As at March 31, 2008, the Company's cash and cash equivalents amounted to $9,116,406 compared to $11,279,030 as at December 31, 2007. The Company believes it has adequate resources to continue into the second quarter of 2009 based on its current cash and cash equivalent position.

As at March 31, 2008 the Company had 55,587,103 common shares, 5,761,146 stock options and 625,000 broker warrants outstanding.

Management's Discussion and Analysis of the financial statements for the three-month period ended March 31, 2008 is available on SEDAR at http://www.sedar.com.

About GeneNews

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GeneNews is focused on the application of functional genomics to enable early diagnosis and personalized therapeutic intervention based on disease-specific biomarkers. The Company has developed a novel approach, the Sentinel Principle(TM), to detect and stage virtually any disease or medical condition from a simple blood sample. GeneNews is currently applying the Sentinel Principle(TM) in major areas with unmet clinical needs such as cancer, arthritis, cardiovascular disease and neurological disorders. GeneNews' first product in development, ColonSentry(TM), is a convenient and patient-friendly blood-based test that can assess an individual's current risk for colorectal cancer. For more information on GeneNews, visit http://www.genenews.com.

This press release contains forward-looking statements, which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein. Investors should consult the Company's ongoing quarterly filings and annual reports for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cau
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SOURCE GeneNews Limited
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