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From DNAPrint.com: |
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LATEST PRESS RELEASE: |
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November 15, 2005
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SARASOTA, FL --
(MARKET WIRE)
-- 11/15/2005 -- DNAPrint™ genomics, Inc. (OTC BB: DNAG), a
developer of genomics-based products and services, today announced that it
has entered into an agreement to acquire the clinical genomics and
genotyping assets of Ellipsis Biotherapeutics Corporation ("Ellipsis"), a
privately held drug and diagnostic discovery company based in Toronto,
Canada.
Under terms of the agreement, Ellipsis is selling these core assets for
6,500,000 shares of DNAPrint genomics common stock. Pending completion of
DNAPrint due diligence and Ellipsis shareholder approval, the transaction
is expected to be completed by Nov. 30, 2005. DNAPrint will retain
Ellipsis' employees, management and business operations. In addition,
DNAPrint will retain the Ellipsis Biotherapeutics name and operate Ellipsis
Biotherapeutics as a subsidiary of DNAPrint genomics.
"Ellipsis has developed novel drug technologies and has spun those
operations out," stated Hector J. Gomez, M.D., Ph.D., DNAPrint Chairman and
Chief Medical Officer and head of its wholly owned DNAPrint
Pharmaceuticals, Inc. subsidiary. "The value for DNAPrint is that
Ellipsis' platform technology is highly compatible with our mission to
expand our capabilities and increase our revenues."
Richard Gabriel, DNAPrint President and Chief Executive Officer, noted that
DNAPrint is actively involved in development of pharmacogenomics through
in-house research, licensing agreements and the acquisition of synergistic
technologies, all targeting future growth for the Company. "Our recent
acquisition of Kenna Technologies, which builds computer models that mimic
complex biological systems, as well as Ellipsis' synergistic gene platform
applications, will broaden our capabilities and add to the growing number
of products in our pipeline."
Ellipsis is located in downtown Toronto adjacent to the academic health
science complex and major teaching hospitals. Using the Beckman Coulter
GenomeLab SNPstream and the Illumina Beadstation, Ellipsis performs
contract SNP genotyping for academic centers, hospitals, human health care
corporations and biotech companies. Its diverse services include human,
plant and animal analyses.
"We are very excited to become part of the DNAPrint group of companies,"
stated Dr. Laurence Rubin, Chief Executive Officer of Ellipsis. "Our core
competencies provide a unique fit for the future growth and development of
our contract services as well as opportunity to participate in novel
research programs and collaborations."
About DNAPrint
DNAPrint genomics, Inc. (www.dnaprint.com) is a developer of genomics-based
products and services in two primary markets: biomedical and forensics.
DNAPrint Pharmaceuticals, Inc., a wholly owned subsidiary, develops
diagnostic tests and theranostic products (drug/test combinations) using
the Company's proprietary ancestry-informed genetic marker studies combined
with proprietary computational modeling technology. Computational Biology
and Pharmacogenomics services are also offered externally to
biopharmaceutical companies. The Company's first theranostic product is
PT-401, a "Super EPO" (erythropoietin) dimer protein drug for treatment of
anemia in renal dialysis patients (end stage renal disease). Pre-clinical
and clinical development of all the Company's drug candidates will benefit
from simulated pre-trials to better design actual trials and are targeted
to patients with a genetic profile indicating their propensity to have the
best clinical response. DNAPrint is proud of its continued dedication to
developing and supplying new technological advances in law enforcement and
consumer ancestry heritage interests. Please refer to www.dnaprint.com for
information on law enforcement and consumer applications which 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
President and CEO
941-366-3400
-or-
Ron Stabiner
The Wall Street Group, Inc.
212-888-4848
SOURCE: DNAPrint genomics, Inc.
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