CORAL SPRINGS, Fla., May 12, 2010 (GLOBE NEWSWIRE) -- CyGene Laboratories Inc. (Pink Sheets:CYGE) today announced that it has experienced unprecedented levels of interest and requests for information following recent media coverage of Walgreens' (NYSE:WAG) decision to offer genetics testing kits supplied by Pathway Genomics in certain of their retail stores.
"Our phone has been ringing off the hook," said Martin Munzer, CEO of CyGene Laboratories. "Since the news broke, we have been inundated with calls and emails. People are suddenly very interested in the whole world of at-home genetic testing. While we do not comment on specific competitors and their products, it's important that we point out our own distinctive competencies and make clear the benefits of our technology and testing methodology as well as our position regarding the key issues affecting our industry."
Looking to address the heightened interest in CyGene's products, Mr. Munzer issued the following statement:
"CyGene has been offering direct-to-consumer DNA testing since 2004. Our products are purely predictive, meaning they are not diagnostic tests. We have designed and filed patents on methods and procedures that provide an ethical and economic way of making genetic information available for the benefit and private use of our clients. Most importantly, our testing is anonymous, not just confidential – a critical factor when considering all the information that can be harvested from the human genome. The results of our tests are actionable, but in a positive way: We do not scare consumers into taking radical, irreversible measures to reduce a possible risk based on inconclusive or partial information.
"There are many issues related to this 'brave new world' of genomics that yet need to be resolved, such as the patenting of genes. Many companies have been issued patents and actually 'own' some genes, as in the case of the BRCA1 and BRCA2 genes, which may increase the risk of developing breast cancer. By way of these rights, companies are denying access to the use of these genes to others for testing and even for the development of drugs to modify the function of the genes. As a result, in our opinion, some companies are overcharging the public for testing, while overstating the real value of their genetic markers. CyGene has been a staunch opponent of gene patenting. Our position on this issue is clear and a matter of public record as I have written letters for use by members of Congress sponsoring bills attempting to repeal the laws that permit the patenting of human or other genes."
About CyGene Laboratories Inc.
CyGene Laboratories Inc., based in Coral Springs, Fla., is a biotechnology company focused on introducing genetic predisposition and diagnostic testing into the general population. With five patents issued, CyGene's scientific expertise is in DNA analysis and diagnostic technologies. Incorporated in 1995, CyGene has been developing technology and introducing products that address the growing demand for genetic knowledge implementation and utilization. CyGene currently markets eight DNA predictive genetic test panels in accordance with its patent pending business model, sold direct to consumers and through physicians and other healthcare practitioners. CyGene's process offers customers access to the most updated science, guaranteeing their anonymity and keeping consumers on the cutting edge of genetic discoveries at the lowest possible price. The method allows customers who have purchased a previous genetic test panel a low cost upgrade to their genetic report as new genetic discoveries become available.
For more information about CyGene Laboratories and its products, visit the Company's Web site at http://www.CyGeneDirect.com/.
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