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GeneNews Announces Second Quarter Results

TORONTO, Aug. 7 /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 second quarter and year to date ended June 30, 2008.

"The launch of our first commercial product, ColonSentry(TM), a blood test to assess a patient's current risk of having colorectal cancer, marks the completion of our Company's transition into a fully commercial enterprise. ColonSentry is the world's first blood test for colorectal cancer screening and we believe this unique product will facilitate earlier detection and treatment of the disease, resulting in improved outcomes for patients with colorectal cancer," said Dr. Heiner Dreismann, Lead Director and Interim CEO of GeneNews. "Over the coming quarters, our focus will be on driving adoption of ColonSentry in Canada, subsequent launches of the test in Asia, the United States and Europe, and further development of our pipeline of innovative molecular diagnostic tests for a range of disease indications."

Highlights in the second quarter:

- Subsequent to quarter-end in July, launched the world's first blood

test for colorectal cancer screening in the Greater Toronto Area.

- Presented positive results in a Late Breaking Abstract at the

American Association of Cancer Research (AACR) annual meeting from a

validation study of a panel of six colorectal cancer biomarkers,

confirming (p less than 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).

- Elected two additional independent members to the Board of Directors,

Mr. Harry A. Glorikian and Ms. Fran Tuttle.

Financial results (CDN dollars) for the three-month and

SOURCE GeneNews Limited
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