SARASOTA, Fla., June 22, 2006 (PRIMEZONE) -- DNAPrint Genomics, Inc. (OTCBB:DNAG) President and Chief Executive Officer Richard Gabriel told shareholders at the Annual Meeting today that the development of "theranostic" genetic test/drug combinations for treating diseases based on a human being's genetic profile signals a new era in medicine.
"Medicine is moving toward the customization of new drugs based on technologies that determine how a patient will respond to a prescribed treatment," Mr. Gabriel stated. "Physicians and patients have much to gain from theranostics. A physician will be able to prescribe what will effectively constitute an appropriate drug and dosage to more precisely meet a patient's needs."
The driving force behind research and development at the Company's DNAPrint Pharmaceuticals, Inc., subsidiary is a desire to provide patients drugs that go beyond the industry's one pill fits all concept. "We are at the forefront of improving patient care with a number of theranostic drugs in various stages of research and development. These theranostic drugs are designed to maximize efficacy and minimize side effects for specific individuals and well-defined population sectors," Mr. Gabriel stated.
Pharmacogenomics has significant potential, according to the U.S. Human Genome Project: "Instead of the standard trial-and-error method of matching patients with the right drugs, doctors will be able to analyze a patient's genetic profile and prescribe the best available drug therapy from the beginning. Not only will this take the guesswork out of finding the right drug, it will speed recovery time and increase safety as the likelihood of adverse reactions is eliminated. Pharmacogenomics has the potential to dramatically reduce the estimated 100,000 deaths and two million hospitalizations that occur each year in the United States as the result of adverse drug response."
DNAPrint's first pharmaceutical product in the pipeline is PT-401, a more potent and longer-acting form of Erythropoietin, an established anemia treatment drug. "A Super EPO would open up a significant opportunity for DNAPrint Pharmaceuticals as Erythropoietin represents an $11 billion worldwide market that has been growing at an average annual rate of 18% for the past five years," stated Hector J. Gomez, M.D., Ph. D., the Company's Chairman and Chief Medical Officer. "We are currently preparing for a Pre-IND (Investigational New Drug) meeting with the U.S. Food and Drug Administration (FDA) to discuss the preclinical studies for PT-401.
"Other therapies in our product pipeline include Ritalin(tm)-like compounds for the potential treatment of drug abuse, attention deficit hyperactivity disorder (ADHD), and depression," Dr. Gomez said. "These compounds are analogs of Ritalin, a well-known drug used for treatment of ADHD and designed specifically to take effect slowly but last longer, thus reducing the potential for cardiovascular complications, abuse and a patient's required daily dosage."
Tony N. Frudakis, Ph. D., the Company's founder and Chief Scientific Officer, also addressed the Company's focus on pharmacogenomics. "Our future ability to develop pharmacogenetics tests depends on what we learn today from our drug studies and the drug studies made by other companies. We believe that smart drugs will reshape what is currently a broken pharmaceutical model that does not best serve the patient population."
Mr. Gabriel, turning to other key business segments, said that sales are steadily increasing for AncestrybyDNA(tm)" a popular consumer product for determining family heritage. "Recent media articles and television coverage about genealogy's growing popularity are generating sales for our product among people who want to know more about their family background," Mr. Gabriel said. "As for the forensic aspect of DNA testing, DNAPrint is currently playing an active role in 109 police investigations worldwide. Our DNAWitness(tm) technology for the forensics and law enforcement market has been involved in numerous high-profile crime investigations and has received a significant amount of attention from the media as well."
Shareholders attending the Annual Meeting and those voting by proxy re-elected the three-members of the Board of Directors. In addition to Mr. Gabriel, they are Dr. Gomez and Dr. Frudakis.
Shareholders also ratified the appointment of Pender, Newkirk and Company as DNAPrint's independent auditor for the fiscal year ending Dec. 31, 2006.
About DNAPrint Genomics, Inc.
DNAPrint Genomics, Inc. (www.dnaprint.com) is a developer of genomics-based products and services in two primary markets: biomedical and forensics. DNAPrint Pharmaceuticals, Inc., a wholly owned subsidiary, develops diagnostic tests and theranostic products (drug/test combinations) using the Company's proprietary ancestry-informed genetic marker studies combined with proprietary computational modeling technology. Computational Biology and Pharmacogenomics services are also offered externally to biopharmaceutical companies. The Company's first theranostic product is PT-401, a "Super EPO" (erythropoietin) dimer protein drug for treatment of anemia in renal dialysis patients (with end stage renal disease). Preclinical and clinical development of all the Company's drug candidates will benefit from simulated pre-trials to design actual trials better and are targeted to patients with genetic profiles indicating their propensity to have the best clinical responses. DNAPrint is proud of its continued dedication to developing and supplying new technological advances in law enforcement and consumer ancestry heritage interests. Please refer to www.dnaprint.com for information on law enforcement and consumer applications which include DNAWitness(tm), RETINOME(tm), AncestrybyDNA(tm) and EuroDNA(tm). DNAWitness-Y and DNAWitness-Mito are two tests offered by the Company. The results from these tests may be used as identification tools when a DNA sample is deteriorated or compromised or other DNA testing fails to yield acceptable results.
Forward-Looking Statements
All statements in this press release that are not historical are forward-looking statements. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including, but not limited to, uncertainties relating to technologies, product development, manufacturing, market acceptance, cost and pricing of DNAPrint's products, dependence on collaborations and partners, regulatory approvals, competition, intellectual property of others, and patent protection and litigation. DNAPrint Genomics, Inc. expressly disclaims any obligation or undertaking, except as may be required by applicable law or regulation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in DNAPrint's expectations with regard thereto or any change in events, conditions, or circumstances on which any such statements are based.