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From DNAPrint.com: |
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LATEST PRESS RELEASE: |
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October 12, 2005
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SARASOTA, FL --
(MARKET WIRE)
-- 10/12/2005 -- DNAPrint™ genomics, Inc. (OTC BB: DNAG), a
developer of genomics-based products and services, today announced that it
has established DNAPrint Pharmaceuticals, Inc., a new wholly owned
pharmaceutical subsidiary focused on personalized medicine.
"Since its inception, DNAPrint genomics successfully has leveraged its
broad-based expertise in genomics into three business segments -- ancestry
for the consumer market, forensics technology for law enforcement and
pharmacogenomics -- personalized medicine based on a patient's DNA," stated
Company President and Chief Executive Officer Richard Gabriel. "With our
ANCESTRYbyDNA™ and DNAWITNESS™ technologies serving as a foundation
for the Company's business, DNAPrint Pharmaceuticals is being targeted as
the engine for further expansion and growth. We now have the corporate
flexibility to concentrate on the pharmaceutical products we are currently
licensing or have under development. To further finance this effort we will
also be seeking funding for DNAPrint Pharmaceuticals."
"We are at the forefront in the development of personalized medicines and
genomics-based pharmaceuticals, the Company's main focus," stated Hector J.
Gomez, M.D., Ph.D., DNAPrint's Chairman and Chief Medical Officer, who will
head the new subsidiary's day-to-day operations. "We believe that
test/drug combinations called 'theranostics' are the wave of the future and
that our new DNAPrint Pharmaceuticals subsidiary affirms the Company's
commitment to the development of these products."
Data Monitor and the Pharmaceutical Manufacturer's Association expect the
worldwide pharmaceutical market to more than triple over the next 10-15
years to an estimated trillion dollars a year, driven primarily by a flood
of new drug targets and the increase in the U.S. demand for drug treatments
as the baby boomer population ages. Many of these targets were identified
through genomics, opening the way for DNAPrint genomics to develop
theranostic drugs to reduce side effects and provide greater efficacy
through accompanying genomic response tests designed to ensure that
patients receive the appropriate medication and dosage.
DNAPrint took a significant step in pharmaceutical development in July 2005
by acquiring an 18% stake in the German pharmaceutical company Biofrontera,
which also has a number of compounds under development. Biofrontera is in
Phase II clinical trials for its lead product, an anti-itch compound for
chronic Urticaria, or chronic itching. It also has a Phase II clinical
trial compound for pre-cancerous skin lesions. In addition, Biofrontera has
advanced several compounds to pre-clinical development, including a novel
prophylactic migraine treatment.
DNAPrint's first test/drug combination is PT-401, being developed in
collaboration with Harvard Medical School's Beth Israel Deaconess Medical
Center (BIDMC). PT-401 is a more powerful version of erythropoietin used
for the treatment of anemia in renal dialysis patients (end stage renal
disease). This "Super EPO" dimer protein drug is currently in pre-clinical
development and will be targeted to patients with a genetic disposition
indicating their propensity to have the best clinical response.
DNAPrint is also collaborating with the H. Lee Moffitt Cancer Center on the
development of two other pharmacogenomic products: OVANOME™, a test for
predicting an ovarian cancer patient's response to TAXOL/Carboplatin
treatment, and STATINOME™, a test for predicting adverse response to
cholesterol lowering medicines known as Statins.
About DNAPrint
DNAPrint genomics, Inc. (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. DNAPrint's family of products for the law enforcement forensics
and consumer markets include DNAWITNESS™, RETINOME™,
ANCESTRYbyDNA™ and EURO-DNA™.
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.
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