SARASOTA, Fla., July 6 /PRNewswire-FirstCall/ -- DNAPrint genomics, Inc. (OTC Bulletin Board: DNAP) today announced that its Board of Directors has authorized a 1-for-20 consolidation of the Company's stock, effective at 12:01 a.m. Eastern time on Tuesday, July 12, 2005. Shareholders at the Company's annual meeting on June 23 approved an amendment to the Company's Articles of Incorporation authorizing a stock combination of at least 1-for-10 but no more than 1-for-20 with the exact ratio established by the Board of Directors. Following the stock consolidation, DNAPrint genomics will have approximately 62,000,000 shares outstanding. "The stock consolidation will enable DNAPrint genomics to access up to $40 million in capital from equity line draws for future growth and potential acquisitions," stated President and Chief Executive Officer Richard Gabriel. "The central focus of our strategic plan is to build up our pharmaceutical division by placing new drugs into the pipeline. At the same time, we plan to expand our forensics division based on the growing success of our product line for law enforcement." About DNAPrint genomics, Inc. DNAPrint genomics, Inc. ( http://www.dnaprint.com ) is a developer of genomics-based products and services focused on drug development, pharmacogenomic diagnostic tests, forensics technology and consumer genetic tests. The Company's first theranostic product (drug/test combination) is PT- 401, a "Super EPO" (erythropoietin) dimer protein drug for treatment of anemia in renal dialysis patients (end stage renal disease). Currently in pre- clinical development, PT-401 will be targeted to patients with a genetic profile indicating their propensity to have the best clinical response. Forward-Looking Statements All statements in this press release that are not historical are forward- looking statements. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including, but not limited to, uncertainties relating to technologies, product development, manufacturing, market acceptance, cost and pricing of DNAPrint's products, dependence on collaborations and partners, regulatory approvals, competition, intellectual property of others, and patent protection and litigation. DNAPrint genomics, Inc. expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward- looking statements contained herein to reflect any change in DNAPrint's expectations with regard thereto or any change in events, conditions, or circumstances on which any such statements are based. Company Contact: Richard Gabriel President and CEO 941-366-3400
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Ron Stabiner The Wall Street Group, Inc. 212-888-4848 SOURCE DNAPrint genomics
Contact Information: Richard Gabriel, President and CEO, DNAPrint genomics, +1-941-366-3400; or Ron Stabiner, The Wall Street Group, Inc., +1-212-888-4848, for DNAPrint genomics
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