On December 31, 2007, the Company reported cash and cash equivalents of $7.6 million compared to $10.1 million of cash and cash equivalents on December 31, 2006. In addition, the Company has access to $14.3 million under credit facilities with Alticor through August 2008.
"In 2008, we initiated an extensive effort to improve the reporting and
communication of test results. Going forward, we expect to continue to
initiate studies, validate existing results and provide clear, actionable
information to customers in their personalized reports," continued Mr.
Bender. "The use of genetic testing to determine the risk of the onset of
diseases such as heart disease, osteoarthritis, obesity or gastric cancer
and test results regarding an individual's genetic factors affecting
nutrition, skin appearance or weight, will aid patients and their
physicians in making decisions about the patient's healthcare. Looking
ahead to the rest of the year, we are poised to demonstrate the value of
our intellectual property, testing services, distribution networks and
2007 and Recent Highlights
-- New and Expanded Research Collaborations with Alticor: In February
2008, Interleukin Genetics and Alticor (a majority shareholder)
announced a new research agreement with Access Business Group
International LLC (ABG), a subsidiary of Alticor Inc., for Interleukin
Genetics to conduct studies in the areas of osteoporosis,
cardiovascular disease, nutrigenomics and dermagenomics. ABG is
expected to pay Interleukin Genetics $1.2 million during 2008 to fund
the research. In March 2007, the companies announced an expanded
agreement for the development of genetic tests to guide consumers'
selection of appropriate skin care products and to further the<
|SOURCE Interleukin Genetics, Inc.|
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