GeneThera, Inc. Signs Contracts with Xpention Genetics and Begins Transition from Development Company to Commercial Enterprise.WHEAT RIDGE, Colo. -- GeneThera, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :GTHA) is pleased to announce that with the signing of its first two contracts with Xpention Genetics, Inc. (OTCBB:XPNG), the company has started their transition from a development company to that of a revenue-generating commercial enterprise. The Company executed two contracts on May 28, 2005, with Xpention Genetics that calls for GeneThera to provide research services to Xpention for development of a commercial cancer detection test in animals and humans. The first contract, which runs for one year at $20,000 per month, calls for GeneThera to develop a cancer detection test for animals. The second contract, which begins in August and also runs for one year at $10,000 per month, is for GeneThera to extend the test into human testing. A third contract with another company is slated to begin in September at comparable monthly revenues. Commenting on this transition from research company to commercial company, Chief Executive Officer Dr. Tony Milici said: "This is an exciting time for GeneThera. After many years of being a research company, it is with great pleasure that I can announce our first commercial contract that will generate revenues for the company going forward. Our research and development service being utilized by Xpention is a business unit of the Company that we expect great things out of both now and in the future. We expect many more of these type and scope of contracts that should provide the Company with sustainable revenues and the organic growth our business plan outlines." "Additionally, with the announcement last week of our collaboration with Beckman-Coulter (NYSE NYSE See: New York Stock Exchange :BEC), we are thrilled about furthering the commercial possibilities of our Ante-Mortem test for several animal diseases," continued Dr. Milici. Xpention Genetics, Inc. is a biotechnology company that was formed to develop both immunological and molecular tests for cancer detection in animals and humans as well as therapeutic vaccines and other treatment. About GeneThera, Inc. GeneThera, Inc. is a molecular biotechnology company located in Wheat Ridge, Colo. The Company provides genetic diagnostic solutions for the veterinary and agricultural industries with future plans to include the health-care industry. The Company's proprietary diagnostic solution is based on a genetic expression assay, GEA GEA - Graph Extended ALGOL. Extension of ALGOL 60 for graph manipulation, on UNIVAC 1108. "A Language for Treating Graphs", S. Crespi-Reghizzi et al, CACM 13(5) (May 1970). (TM), a protocol designed to function on a highly automated Fluorogenic PCR PCR polymerase chain reaction. PCR abbr. polymerase chain reaction Polymerase chain reaction (PCR) platform. This platform enables GeneThera to offer tests that are presently not available from other technologies. The GEA is designed for a host of individual diseases, the current priority being Chronic Wasting Disease Noun 1. chronic wasting disease - a wildlife disease (akin to bovine spongiform encephalitis) that affects deer and elk animal disease - a disease that typically does not affect human beings , a disease affecting elk and deer in North America; E.Coli 0157:H7 and Johnne's Disease, diseases affecting cattle worldwide. Future plans include all infectious disease Infectious disease A pathological condition spread among biological species. Infectious diseases, although varied in their effects, are always associated with viruses, bacteria, fungi, protozoa, multicellular parasites and aberrant proteins known as prions. potentially affecting domesticated do·mes·ti·cate tr.v. do·mes·ti·cat·ed, do·mes·ti·cat·ing, do·mes·ti·cates 1. To cause to feel comfortable at home; make domestic. 2. To adopt or make fit for domestic use or life. 3. a. livestock as well wildlife intended for human consumption, particular priority being given to Mad Cow and Foot & Mouth diseases in cattle. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement: Certain statements in this release are "forward-looking" statements as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statements are subject to numerous risks and uncertainties. Actual results may vary significantly from the results expressed or implied in such statements. Factors that could cause actual results to materially differ from forward-looking statements include, but are not limited to, the Company's ability to meet the terms and conditions required to obtain its project financing, risks and delays associated with product development, risk of market acceptance of new products, risk of technology or product obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. , competitive risks, reliance on development partners and the need for additional capital. |
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