SARASOTA, Fla., Dec. 22, 2005 -- DNAPrint Genomics, Inc. (OTCBB:DNAG) today announced the completion of its previously announced acquisition of Ellipsis Biotherapeutics Corporation, which will operate as a drug and diagnostic subsidiary.
Ellipsis Biotherapeutics, formerly privately held, is retaining its name and will function as a Canadian company from its corporate headquarters in Toronto, Ontario. Ellipsis will retain its existing personnel and continue to be managed by Dr. Laurence Rubin, who is also the Director of the Division of Rheumatology at St. Michael's Hospital in Toronto. His research has focused on the genetic determinants of osteoporosis, rheumatoid arthritis and other inflammatory diseases. He has been with Ellipsis since 2000.
"The Ellipsis Biotherapeutics acquisition strengthens our position in the diagnostic and clinical patient testing market," stated Richard Gabriel, Chief Executive Officer and President of DNAPrint Genomics. "It also provides potential business opportunities with several large pharmaceutical and animal health care companies currently utilizing Ellipsis's high throughput screening technologies."
Ellipsis is located in downtown Toronto in close proximity to the University of Toronto campus, the recently opened MaRS Centre and major academic teaching hospitals. Using the Beckman Coulter GenomeLab SNPstream and the Illumina Beadstation, Ellipsis performs contract SNP genotyping for academic centers, hospitals, human health care corporations and biotech companies in diverse areas covering human, plant and animal analyses. In addition, Ellipsis has acquired a diverse portfolio of genetic data and intellectual property from unique patient populations, specifically with Inflammatory Bowel Disease (Crohn's disease) including last year's publications of the discovery of a gene for Crohn's disease. Diagnostic applications are currently under development in this and related areas of autoimmune inflammatory disorders.
"We are very excited to be part of the DNAPrint group of companies," Dr. Laurence Rubin stated. "Our core competencies provide a unique fit for future growth and development of our contract services as well as opportunities to accelerate novel research programs and collaborations."
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 (end stage renal disease). Pre-clinical and clinical development of all the Company's drug candidates will benefit from simulated pre-trials to better design actual trials and are targeted to patients with a genetic profile indicating their propensity to have the best clinical response. 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 EURO-DNA(tm).
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 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.