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PreMD Reports Fiscal 2007 Results
Date:3/28/2008

- PASA Data published in American Journal of Cardiology

- FDA appeal progressing

TORONTO, March 28 /PRNewswire-FirstCall/ - Predictive medicine company PreMD Inc. (TSX: PMD; Amex: PME) today announced audited financial results for the year ended December 31, 2007.

"During 2007, PreMD faced many significant changes and challenges," said Brent Norton, president and CEO. We made tremendous progress on several fronts, including a License, Development and Supply Agreement with AstraZeneca Pharmaceuticals LP for the marketing and distribution of our point-of-care (POC) skin cholesterol test in the United States. We also successfully penetrated the cosmetics industry as we recently signed an agreement with one of the world's leading cosmetics company, which will enable us to further explore the potential our technology holds in other viable markets. In addition, we continue to achieve several clinical and scientific validations related to both our cardiovascular and cancer franchises, including the publication of our 'Increased Skin Cholesterol Identifies Individuals at Increased Cardiovascular Risk: The Predictor of Advanced Subclinical Atherosclerosis (PASA) Study' this week in the American Journal of Cardiology, April 2008 edition."

Dr. Norton continued, "despite these critical achievements, the company faced difficulties, as we received a non-substantially equivalent (NSE) letter from the US Food and Drug Administration (FDA) regarding our 510(k) submission. We have appealed the FDA decision, including submitting a detailed brief and meeting with them to present our case. We are pleased to have the support of AstraZeneca Pharmaceuticals LP, as well as several leading consultants, through the internal agency review process and we expect to hear from the FDA with the next steps in the next 30 days. We also recently completed a financing, which will enable us to move forward with our business development initia
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SOURCE PreMD Inc.
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