Genesis Bioventures Announces Breast Cancer Marker Receives Additional US Patent Protection
Business Wire "US Press Releases "
LOS ANGELES--(BUSINESS WIRE)--
Genesis Bioventures, Inc. (NASD OTC: GBIW) , a development stage company, announced today that Mammastatin, the breast cancer marker exclusively licensed to Genesis Bioventures, has been allowed additional patent protection by the United States Patent and Trademark Office.
The discovery of mammastatin and its anti-cancer growth inhibitory properties were first published in the journal Science by cancer research scientists at the University of Michigan Cancer Center. The mammastatin technology is being developed for breast cancer risk assessment testing by the Company and its wholly owned subsidiary, Biomedical Diagnostics, LLC. Earlier this year the Company also obtained the exclusive option to exclusively license the mammastatin technology for breast and other cancer therapeutic development from the University of Michigan.
"We are very pleased with this positive development," said Douglas C. Lane, President and CEO of Genesis Bioventures. "This further strengthens the U.S. and international patent position for the mammastatin technology for diagnostic and therapeutic development. The research and clinical studies that have been performed show the potential for mammastatin as a simple and inexpensive breast cancer risk screening tool and as a future breast cancer therapeutic drug is very promising."
The patented MSA was initially developed at the University of Michigan Cancer Center and is licensed exclusively to Genesis Bioventures by the university. In scientific correlation studies 98% of women in those studies who did not have breast cancer were shown to have mammastatin present at normal or elevated levels in their blood, as tested by the MSA. Conversely, 74% of women with breast cancer in those same studies had low or no detectable levels of mammastatin based on their MSA tests. The MSA is developed as a simple and inexpensive blood test to be offered to all women and their physicians throughout the world. The Company intends to have the MSA available in North America on a limited basis later this year.
More information about Biomedical Diagnostics and the MSA test can be found at www.bio-diagnostics.com.
About Genesis Bioventures, Inc.
Genesis Bioventures, Inc. is a biomedical development corporation focusing on the development and commercialization of its owned and licensed assets for diagnostic and therapeutic product development.
Statements in this press release that are not strictly historical facts are "forward-looking" statements (identified by the words "believe", "estimate", "project", "expect" or similar expressions) within the meaning of the Private Securities Litigation Reform Act of 1995. These statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, changes in the regulatory environment, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. The statements in this press release are made as of today, based upon information currently known to management, and the Company does not undertake any obligation to publicly update or revise any forward-looking statements.
Source: Genesis Bioventures, Inc.
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