GenoMed, Inc. Obtains American Diabetes Association Approval
SARASOTA, Fla.--(BUSINESS WIRE)--Dec. 19, 2001--GenoMed Inc. ("the Company" or "GenoMed") (Pink Sheets:GMED), a St. Louis, Missouri based medical genomics biotechnology company, announced today that it has obtained approval from the American Diabetes Association ("ADA") to utilize its bank of DNA samples from patients with type 2 diabetes.
The ADA's diabetes DNA bank, the "G.E.N.N.I.D." collection, is the world's largest shareable repository of DNA from patients with type 2 diabetes. The ADA has assembled the collection at a cost exceeding $10,000,000.
During the next 12 months, GenoMed intends to utilize the G.E.N.N.I.D. collection to identify disease-predisposition genes for type 2 diabetes. GenoMed expects to apply data obtained through its research of the collection to substantiate the utility of the Company's scientific approach. The Company's ultimate objective will then be to develop clinical treatments against type 2 diabetes.
"While the ADA cannot endorse the activities of any single company, the ADA is keenly aware that many important research advances in the field of diabetes will come from industry," stated Matt Petersen, the Director of Research Programs at the American Diabetes Association's headquarters in Alexandria, Virginia.
"We are pleased to have obtained approval from the ADA to access this valuable resource. I am confident that the ADA appreciates the capital, the time, and the effort that GenoMed is allocating to the research and clinical treatment of diabetes," stated GenoMed's Chief Medical Officer, Dr. David Moskowitz.
About GenoMed
GenoMed was founded with the sole purpose of translating knowledge of disease genes into better patient outcomes as rapidly and as safely as possible. The Company's business model specifically links improved patient outcomes to Company revenues through clinical treatment and genetic diagnoses of diseases.
For additional information please visit genomedics.com and/or contact Craig Hall @ (941) 366-6677 or email at chall@floridafunds.com.
CONTACT: GenoMed Inc., Sarasota
Craig Hall, 941/366-6677
chall@floridafunds.com
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