TORONTO, June 16, 2016 (GLOBE NEWSWIRE) -- GeneNews Limited (“GeneNews” or the “Company”) (TSX:GEN) is pleased to announce that the Toronto Stock Exchange ("TSX") has completed its Remedial Review Process and determined that the Company meets the TSX's continued listing requirements.
"The last six to 12 months have been a challenging time for both the Company and its shareholders. Over that time, GeneNews has bought out its IDL partners, reorganized operations and cut costs, raised additional financing and, with a new business model and partner in JTS, can now put our full effort behind building the business," said James R. Howard-Tripp, Executive Chairman of GeneNews. "We are focused on providing diagnostic services to hospitals, clinically integrated networks, large physician groups and other healthcare organizations so that our blood-based, early cancer diagnostic tests aid in the risk stratification of patients so that those with highest risk are prioritized for advanced diagnosis and, if needed, treatment. We look forward to announcing agreements with these groups as they are secured."
“We are also pleased that GeneNews’ listing on Canada’s premiere stock exchange will continue to provide its shareholders with access to a well-regulated market and liquidity for its common shares,” commented Howard-Tripp.
GeneNews is focused on developing and commercializing proprietary molecular diagnostic tests for the early detection of diseases and personalized health management, with a primary focus on cancer-related indications. The Company's lead product, ColonSentry®, is the world's first blood test to assess an individual's current risk for colorectal cancer. GeneNews' common shares trade on the Toronto Stock Exchange under the symbol 'GEN'. More information on GeneNews can be found at www.GeneNews.com.
Richmond, Virgina-based IDL is a national clinical reference lab specializing in personalized blood-based testing to help find, understand, and address cancer risk in patient populations. IDL’s mission is to provide a comprehensive menu of traditional and advanced clinical evidence-based blood tests that aid in early cancer detection. Currently IDL offers risk assessment blood tests for the three most prevalent cancer types including lung, colon and prostate. IDL is actively in-licensing and commercializing an array of DNA, RNA, protein and autoantibody blood-based cancer diagnostic tests to address early detection of all major types of cancer.
This press release contains forward-looking statements identified by words such as "expects", "will" and similar expressions, which reflect the Company's current expectations regarding future events, including the restructuring of its business. These forward-looking statements involve risks and uncertainties and material assumptions - including those related to general business and economic conditions as well as our ability to complete an orderly restructuring of the Company's operations which may include a sale, merger, strategic financing or other business combination - that could cause the Company's actual events to differ materially from those projected herein. Investors should consult the Company's ongoing quarterly filings and annual reports for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements, except as required by law.
Company Contact: James R. Howard-Tripp Executive Chairman Office: (905) 209-2030 firstname.lastname@example.org Investor & Media Contact: Stephen Kilmer Kilmer Lucas Inc. Office: (647) 872-4849 email@example.com
Source: GeneNews Limited