Business News

GeneThera Updates Shareholders as to Recent Developments


GeneThera, Inc.

2008-08-14 06:00:00

WHEAT RIDGE, CO–(EMWNews – August 14, 2008) – GeneThera, Inc. (PINKSHEETS: GTHR), a

molecular biotechnology company focused on the detection and treatment of

disease in live animals using state-of-the-art technology, is pleased to

issue this informational release to its shareholders.

In the past month, GeneThera has made important progress in its long-term

goal to become a profitable, dynamic biotech business. The increased value

of our stock after last month’s reverse split has positioned GeneThera to

seriously consider a strategic acquisition. Indeed, GeneThera is actively

pursuing a strategic acquisition of a biotechnology company that will help

us achieve our goals of aggressively moving into the human DNA vaccine

platform. By merging with a company with existing revenues, requirements

to apply for the American Stock Exchange or NASDAQ listing would also be

met. The Company believes that this strategy may help its long-term goal of

providing stability to our share price and value to our shareholders.

We evaluated more than 10 target companies predominantly located in the UK.

We decided to focus our effort on Oxford Biomedica PLC, a biotechnology

company trading on the London stock exchange. Oxford Biomedica is a gene

therapy company working on several DNA vaccine related therapeutics in

different phases of clinical trials. One of these clinical trials — Trovax

— targets renal cancer patients. Oxford Biomedica has an agreement with

Sanofi-Aventis to commercialize this vaccine. However, this clinical trial

was halted last month because it failed to show efficacy when compared to

existing treatments.

On July 25th Dr. Milici and his collaborators met scientists and

management of Oxford Biomedica in Oxford, England. The previously

scheduled 2-hour meeting lasted 4.5 hours. At the request of Oxford

Biomedical’s CEO, GeneThera representatives agreed to keep the proceedings

of the meeting confidential. After the meeting, Dr. Milici felt that

GeneThera might be in the position to address the issues related to the

failure of the Trovax clinical trial, and possibly restart the clinical

trial utilizing GeneThera’s more powerful technology.

Based on this premises, a formal offer to purchase Oxford Biomedica was

tendered to the Board of Directors. However, Oxford Biomedica’s Board of

Directors rejected the offer without presenting it to its shareholders.

GeneThera’s Board of Directors is presently evaluating its available



GeneThera, Inc. is a molecular biotechnology company located in Wheat

Ridge, CO. 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 system, 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 priority being Mad Cow disease, Chronic Wasting Disease, a disease

affecting elk and deer in North America; E. Coli 0157:H7 and Johne’s

Disease, diseases affecting cattle worldwide.

“Safe Harbor” Statement: Certain statements in this release are

“forward-looking” statements as defined in the Private Securities

Litigation Reform Act 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, competitive risks,

reliance on development partners and the need for additional capital

GeneThera, Inc.
Dr. Tony Milici

JR Dopkin & Associates
[email protected]

free cash grants, free grant money, free money, cash grants, scholarships, business grants, foundation grants, government grants, debt grants, consolidation, college tuition, financial aid, medical grants, personal grants, medical bills, unsecured loans, no interest loans, financing, loans, capital, non profit organizations

Major Newsire & Press Release Distribution with Basic Starting at only $19 and Complete OTCBB / Financial Distribution only $89

Get Unlimited Organic Website Traffic to your Website now offers Organic Lead Generation & Traffic Solutions

Jordan Taylor

Jordan Taylor is Sr. Editor & writer from San Diego, CA. With over 20 years and 2650+ articles edited rest assured your Press Release will see traction.

Related Articles

Back to top button