GeneNews announces 2007 year end results( TORONTO March 26 / GeneNews Limit...)

TORONTO, March 26 /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 fourth quarter and year ended December 31, 2007.

"This was a transformative year for GeneNews because of the advancements made for the laboratory-developed test (LDT) version of ColonSentry(TM) and the strengthening of our internal processes and systems," said Dr. K. Wayne Marshall, MD, PhD, President and CEO of GeneNews. "We are now positioned for the initial commercial launch of ColonSentry in the third quarter of 2008 through our in-house clinical reference lab located in the Toronto-area."

Product Highlights

- Completed collection of 10,000 patient samples for internal

validation studies of ColonSentry.

- Initiated the collection of patient samples for additional clinical

trials for the development of an In Vitro Diagnostic (IVD) version of

ColonSentry in December.

- Subsequent to year-end in January 2008, published a paper entitled

"Novel Blood-Based, Five-Gene Biomarker Set for the Detection of

Colorectal Cancer" in the Clinical Cancer Research journal.

- Subsequent to year-end on March 14, 2008, received notification that

an abstract entitled "Stratification of colorectal cancer probability

using six genes from whole blood" was selected for presentation on

April 15, 2008 at the annual meeting of the American Association of

Cancer Research to be held in San Diego, California.

Corporate Highlights

- Implemented a Quality Management System to conform to ISO 13485:2003

requirements and, subsequent to year end, received formal

certification on March 6, 2008 for the design and development of

in-vitro diagnostic test
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