MINNEAPOLIS, Nov. 03, 2016 (GLOBE NEWSWIRE) -- GWG Holdings, Inc. (Nasdaq:GWGH), a financial services company engaged in the life insurance secondary market, today announced that it exercised its option to secure the exclusive license for the “DNA Methylation Based Predictor of Mortality” technology from the University of California, Los Angeles (UCLA). The technology was discovered by Dr. Steve Horvath and is featured in the September 2016 edition of “Aging”.
In 2013, Dr. Horvath reported that human cells have a mechanism that records biological aging progression based on DNA methylation that is independent from chronological aging progression. In 2016, Dr. Horvath discovered a specific set of DNA methylation-based bio-markers that are highly predictive of all-cause mortality. The discovery was made through a statistical analysis of bio-markers found in DNA samples from over 13,000 individuals whose health was studied for decades. The implications of Dr. Horvath’s discovery are simple and profound: Individual lifespans can now be estimated with significantly greater precision across large groups of individuals.
“We believe Dr. Horvath’s technology will revolutionize the prediction of human longevity,” commented Jon Sabes, Chief Executive Officer. “We expect to immediately implement this technology into our current business to enhance our actuarial underwriting precision. In addition, we intend to explore a more comprehensive application of this technology to the life insurance business. While we have some work to complete to firm up our expectations, we believe we may hold some of the most innovative financial technology the life insurance industry has seen in over a century.” More information regarding the DNA Methylation Based Predictor of Mortality technology and a discussion on the implications for GWG’s current business, as well as its potential application to the wider insurance industry, can be found on our website at www.gwgh.com.
About GWG Holdings, Inc.
GWG Holdings, Inc. (GWG) (Nasdaq:GWGH) is a specialty finance company and a leader in the life insurance secondary market. GWG is dedicated to creating a vibrant life insurance secondary market for the economic benefit of seniors seeking post-retirement financial solutions, investors seeking yield derived from non-correlated assets, financial advisors seeking value-added products and services for their clients, and shareholders seeking to benefit from the growth of this marketplace. As of June 30, 2016, GWG’s growing portfolio consisted of over $1.1 billion in face value of benefits. Since 2006, GWG has purchased over $2 billion in life insurance policy benefits and paid seniors over $357 million for their policies.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, future financial position, future revenue, projected costs, prospects, plans and objectives of management are forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "would," "target" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include, among other things, statements about our estimates regarding future revenue and financial performance. We may not actually achieve the expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the expectations disclosed in the forward-looking statements we make. More information about potential factors that could affect our business and financial results is contained in our filings with the Securities and Exchange Commission. Additional information will also be set forth in our future quarterly reports on Form 10-Q, annual reports on Form 10-K and other filings that we make with the Securities and Exchange Commission. We do not intend, and undertake no duty, to release publicly any updates or revisions to any forward-looking statements contained herein.
Source:GWG Holdings, Inc.