PORTLAND, Ore., Jan. 4, 2008 (PRIME NEWSWIRE) -- Znomics, Inc., a pioneer in the development of the zebrafish as a simple vertebrate genetic platform to accelerate drug discovery, announced that its common stock will begin trading on the OTC Bulletin Board under the new ticker symbol, "ZNOM.OB", effective today, Friday, January 4, 2008.
The issuance of the new symbol follows the November 2007 completion of the company's reverse merger with Pacific Syndicated Resources, Inc. (OTCBB:PSRI) and the renaming of the combined company as Znomics, Inc. under the leadership of the former Znomics' directors and officers.
"This is a simple step, but a symbolic one," said Richard Sessions, chief executive officer of Znomics. "Our new ticker symbol further establishes our commitment to Znomics' business model as a public company and extends our presence in the investment community, making it easier for investors to find us and follow our progress."
About Znomics
Znomics (OTCBB:ZNOM) is a biotechnology company that is developing a novel drug discovery methodology based on high throughput drug screening against human disease models in live zebrafish (Danio rerio). In order to advance the drug discovery process, Znomics has created a catalogued library of mutations in the zebrafish, called the ZeneMark Library. The library currently contains over 11,000 strains of fish representing approximately half of the known genes, and the company plans to add enough strains to represent 80-90% of the genes in the genome. Znomics has already identified mutations in 107 human disease genes, and plans to use the library to find new drug targets and develop human disease models in the fish. The company, founded by scientists from Oregon Health and Science University, began operations in Portland, Oregon in 2002. For more information visit our website, http://www.znomics.com