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From DNAPrint.com: |
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LATEST PRESS RELEASE: |
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November 1, 2005
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SARASOTA, FL --
(MARKET WIRE)
-- 11/01/2005 -- DNAPrint™ genomics, Inc. (OTC BB: DNAG), a
developer of genomics-based products and services, today announced that it
has acquired Kenna Technologies, Inc., of West Chester, Pa., a private
company which builds computer models that mimic complex biological systems.
Under terms of the agreement, Kenna's shareholders exchanged all of the
company's outstanding shares for 1.5 million shares of DNAPrint genomics
Common Stock. The transaction was effective on Tuesday, Oct. 25, 2005.
"The acquisition of Kenna and its computational biology process, provides
substantial synergies with our pharmacogenomics applications," stated
Hector J. Gomez, M.D., Ph.D., Chairman and Chief Medical Officer of
DNAPrint genomics. "We believe Kenna's technologies will lead to shorter
and less expensive drug development times, and represent a powerful tool in
our company's search to develop programs for personalized medicine, and
test/drug combinations targeting a specific group of patients."
Computational biology models (also called In silico technology,)
incorporate the vast datasets and fragmented knowledge of experimentalists
and can be a crucial requirement when developing effective therapies and
diagnostic products.
"Initially, the Kenna team will support the clinical development of
DNAPrint's PT-401 Super EPO erythropoietin dimer for the treatment of
anemia and renal failure," stated Kenna co-founder Barbara Handelin, Ph.D,
who joins DNAPrint as Director of Diagnostics and General Manager of
Computational Biology. "We will provide simulations to help design optimal
clinical trials with respect to dosing, patient selection factors and trial
duration."
As a result of the acquisition, DNAPrint also gains access to Kenna's
BoneFusion™ and CellCycleFusion™ models. BoneFusion simulates the
processes in bone remodeling that underlie diseases like osteoporosis,
while CellCycleFusion simulates the molecular pathways that control basic
cellular functions. These pathways are common targets of current cancer
therapies.
"Simply put, DNAPrint will utilize computational modeling to develop drugs
more efficiently," said DNAPrint President and Chief Executive Officer
Richard Gabriel. "It will play a valuable role in our Company's efforts to
pursue the development of drugs which maximize efficacy and minimize side
effects by tailoring medications for specific individuals and well-defined
population sectors."
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.
Company Contact: Richard Gabriel CEO and President 941 366-3400 Ron Stabiner The Wall Street Group, Inc. 212-888-4848SOURCE: DNAPrint genomics, Inc. |
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