ORLANDO, Fla., Oct. 4, 2006 (PRIMEZONE) -- Dave Gentry, President of RedChip Companies, Inc., recently conducted an audio/video interview with Douglas C. Lane, President, CEO, and Chairman of Genesis Bioventures, Inc. (OTCBB:GBIW). The audio/video interview is currently airing on RedChip.com.
Douglas Lane said in the interview that GBIW has recently established "a new management team with experience in biopharmaceuticals, a team that can take our existing products and put them into marketplace today." Mr. Lane also discussed the Company's Breast Cancer risk assessment tool, the Mammastatin Serum Assay (MSA). Mr. Lane pointed out that "the technology is ready to go; we now have a CLIA-certified laboratory, and are ready to offer our technology to the market today." In the RedChip interview, Douglas Lane also discusses the Company's global market opportunities for their Rapid Mad Cow 30 minute assay test. When asked about GBIW's margins, Mr. Lane stated that "GBIW has the ability to achieve 15-20% pre-tax income on revenues of $25-30 million within two to three years time."
To watch the audio/video interview in its entirety, please visit http://www.redchip.com/. To see Genesis Bioventures' presentation at the RedChip Small-Cap Conference in New York please visit http://www.redchip.com/visibility/investor.asp?symbol=GBIW&interview=1.
About Genesis Bioventures, Inc.
Genesis Bioventures, Inc. (GBIW) is a North American-based biomedical corporation focused on facilitating the development and marketing of novel diagnostics, therapeutics and niche products. The Company's immediate development and acquisition efforts are focused on cancer diagnostics, therapeutics and neurodegenerative discoveries within the emerging field of proteomics.
The Company's rapid Mad Cow Test is a 30-minute assay that eliminates the economic disincentive current producers have to test all cattle processing: and, more importantly, it creates a substantial economic incentive for wholesalers and retailers to price a 15% to 35% premium for "BSE-Free" beef for an additional a penny a pound cost.
The Company's focus is on the development and marketing of its proprietary Mammastatin Serum Assay Test for breast cancer risk assessment. A recent publication highlighting two studies showed that most women in the studies with low (or no) levels of the protein Mammastatin had breast cancer, while most women in the studies with normal levels of the protein did not have breast cancer.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial businesses, the risk of obtaining financing, recruiting and retaining qualified personnel, and other risks described in the Company's Securities and Exchange Commission filings. The forward-looking statements in this press release speak only as of the date hereof, and the Company disclaims any obligation to provide updates, revisions or amendments to any forward-looking statement to reflect changes in the Company's expectations or future events.
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