ARVADA, Colo., May 26, 2009 (GLOBE NEWSWIRE) -- GeneThera, Inc. is a public company actively trading on the OTC (Pink Sheets:GTHR). As a service and advisory to our shareholders, along with the investing public, we are addressing our recent events since February to keep our investment market informed.
Although the Company has not reached its aggressive short-term goals with its commercialization phase due to the severe financial issues facing most of our dairy industry, we continue to further our testing capabilities with respect to our technology platform. We are very excited about the opportunities we have in Mexico, not only for Johne's disease commercial testing but also for E.coli O157:H7 vaccine clinical trials
Our Definitive and Final Agreement with Universidad National Autonoma de Mexico (UNAM) is ready for final execution. This agreement will give GeneThera the opportunity to work closely with the largest Mexican University, which is supported by the Mexican Government. UNAM will support GeneThera process of validation and approval with the Mexican Government for the Johne's molecular test and other highly advanced and innovative products developed by the Company. GeneThera plans to initiate, in the near future, Phase II clinical trial for its E.coli vaccine. We are looking at the possibility to initiate this phase both in the US and Mexico to maximize our net proceeds for the significant costs of development.
We have secured the Magna Pure robotic equipment from Roche Diagnostics. This equipment along with Roche 380 real time PCR thermo cycler will be our molecular diagnostic platform, particularly for the commercial operation in Monterrey, Mexico. This platform will give GeneThera a distinctive technical and commercial advantage in molecular testing of Johne's disease and other diseases. GeneThera's technology platform will result in an increased sensitivity and greatly reduced detection time particularly for Johne's disease testing, when compared to the current tests.
We continue looking for potential acquisitions or mergers of companies that may expand our technology foundation and create a significant revenue-based operation.
Despite the struggling economy here and abroad, we are pleased by the direction the Obama administration continues to take to bring food safety to the forefront where it certainly needs to be. FDA nominee, Dr. Margaret Hamburg, a bioterrorism expert who once served as New York City health commissioner, says she wants to restore public confidence in the Food and Drug Administration by putting science first and running an open and accountable operation. "The agency is facing a range of new and daunting challenges," Hamburg said in her written statement. "These include the globalization of food and drug production, the emergence of new and complex medical technologies, and the risk of deliberate terror attacks on our food and drug supplies."
The increasing numbers of outbreaks over the last decade have been our cause for elimination in the public interest. We have spent years designing different testing protocols to address them. Only until now have we had the widespread support that our government has provided that should have maximized years ago to eliminate the possibility of such hazardous outbreaks of public risk and disease. As discussions progress, the company will release more details.
ABOUT GENETHERA, INC.
GeneThera, Inc. is a molecular biotechnology company located in Arvada, Colorado. The Company's proprietary diagnostic solution is based on a genetic expression assay, GES, a protocol designed to function on a highly automated Fluorogenic PCR platform. This platform enables GeneThera to offer tests that are presently not available from other technologies. The GES is designed for a host of individual diseases, the current priorities being Mad Cow disease, E. coli 0157:H7 and Johne's disease. For more information, contact Dr. Tony Milici at 303-463-6371 or Richard Dopkin at JR Dopkin & Associates at 516-884-3200.
The GeneThera, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5876
This press release contains forward-looking statements, which are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "intends," "believes," and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company's filings with the Securities and Exchange Commission. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.