DNAPrint genomics Secures Additional Funding
SARASOTA, Fla.--(BUSINESS WIRE)--June 18, 2001--DNAPrint genomics, Inc. (OTCBB:DNAP) announced today that Tampa Bay Financial has committed to provide the Company with an additional $2,000,000 in growth capital beginning July 15, 2001. This additional funding package will accelerate the Company's mapping and scoring of polymorphisms in the human genome and the development of its analytical software platform for the discovery and commercialization of novel genomics-based diagnostic products. Year-end Progress Report
The Company has assembled one of the top scientific teams within the specialized genomics industry. At present, the headcount is fourteen, seven of whom hold Ph.D.s in Genetics, Statistical Genetics, Mathematics or Computer Science. The Company has, year-to-date, finished building its discovery infrastructure, and is now devoting its resources to operating this infrastructure for the generation and analysis of genetic data.
At present, we are sequencing 1,000,000 bases of DNA per week. This rate of sequencing has allowed us to discover about 1 novel, quality validated SNP for every 200 bases of target sequence in the human genome. This rate of discovery is greater than that which others have reported in the scientific literature. In contrast to maps present in public resources, the proprietary SNP maps the company is building span the entire length of each target gene. Relatively few of the SNPs comprising these maps are present in public genome database resources. In addition, analysis conducted to date have validated these SNPs (as real polymorphisms) at a significantly higher rate than those taken or mined from public database resources. The Company attributes these desirable outcomes to its implementation of unique vertical re-sequencing protocols and proprietary software platform (the patent pending SniPdoc(TM) system) for raw SNP discovery. The proprietary Snipdoc(TM) system enables the Company to find, store and qualify markers that may be linked to a patient's response to specific drugs.
To further accelerate the rate at which the company is mapping and scoring polymorphisms in the human genome, the Company has recently acquired two new state-of-the-art automated liquid handling robots.
"We are all very proud of the work we have done here at DNAPrint; over the course of our first year, we have assembled a world-class genomics data production and analysis infrastructure. In terms of quality, the data that we are producing is as good as any genomics data that I have worked with in my career. As we enter our second year, we look forward with great excitement to continued application of this infrastructure for the development of a unique genomics-based product pipeline," said Dr. Tony Frudakis, CEO of DNAPrint genomics, Inc. About DNAPrint genomics, Inc.:
DNAPrint genomics Inc. was founded by a team of scientists with research and commercial experience in high-level mathematical modeling, programming and molecular genetics. The Company has a focused effort within the population genomics, informatics, and clinical data fields for the application and production of personalized medicine. The Company is located in Sarasota, Florida and is traded publicly on the NASDAQ OTC Bulletin Board under the ticker symbol: DNAP. For more information about the company, please visit dnaprint.com.
For scientific inquiries please contact: Dr. Tony Frudakis at (941) 366-3400. All other inquiries please contact: Richard Craig Hall at (941) 341-0136.
All statements in this press release that are not historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act as amended. 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.
CONTACT: DNAPrint Genomics Inc., Sarasota
For scientific inquiries:
Dr. Tony Frudakis, 941/366-3400 |
