GenoMed, Inc. Files Form 10-SB With Securities and Exchange Commission
ST. LOUIS, Mo., April 4 /PRNewswire-FirstCall/ -- GenoMed, Inc. (OTC Pink Sheets: GMED) ("the Company" or "GenoMed"), a medical genomics biotechnology company, announced today that it has voluntarily filed a Form 10-SB with the Securities and Exchange Commission pursuant to Section 12(g) of The Securities Exchange Act of 1934 in order to be eligible to apply to have its common stock quoted on the Over-the-Counter Bulletin Board.
GenoMed is a medical genomics company that is focused on identifying disease causing genes, and using these genes to develop clinical treatments against diseases. GenoMed has relationships with disease specimen sources such as the American Diabetes Association, Biocollections Worldwide, Muna Inc., and others for study using GenoMed's DiseaseGeneNet(TM) platform. GMED plans to screen a collection of over 4,000,000 Single Nucleotide Polymorphisms (SNPs) during the next 12 months.
GMED's Form 10 filing highlights the Company's business model, which has three primary potential revenue sources:
1. Drug discovery: Identifying gene targets without existing therapies and
pursuing strategic alliances with large, research-oriented
pharmaceutical companies to develop new drugs against these targets.
2. Maximizing the utility and market value of existing drugs through new
clinical indications. Existing drugs may be viable treatments for
targets GenoMed identifies. For example, GenoMed has demonstrated that
a proprietary regimen of ACE inhibitors can dramatically delay the
onset of Type-2 diabetes. New indications do not require the rigorous
FDA review process and can be approved and implemented relatively
quickly.
3. Gene-based diagnostic tests: Millions of people die each year from
disease and thousands more die from responses to drugs. GenoMed's
diagnostics identify the genes, and their variant sequences that are
associated with disease. As such, they may represent targets for new
drugs to attack disease before symptoms ever become visible. They also
can help to determine which drugs should be prescribed to a person
based on his or her unique genetic makeup.
GenoMed will genotype disease specimens using one of the fastest systems currently available in the world, Orchid BioScience's SNPstream Ultra High Throughput (UHT) genotyping system. GenoMed purchased the UHT system in February 2002, and has partnered with DNAprint Genomics, Inc. (OTC Bulletin Board: DNAP) to perform the genotyping services.
GenoMed will use its proprietary DiseaseGeneNet(TM) to fish for disease- associated genes. The Company will focus on a large number of genes that it believes are important in causing disease. Each gene is composed of thousands of letters, which are limited to only C, A, G, and T. At a particular position, DNA from a patient with a particular disease and a healthy specimen may differ by as little as one letter, for example, a C among patients with the disease versus a T among healthy controls. The C would then be associated with the disease under study, as would the entire gene containing this Single Nucleotide Polymorphism (SNP). Drugs directed against this gene would be expected to delay the progression of the disease. GenoMed believes that knowledge of such associations is the key to developing treatments for all common diseases.
GenoMed's management has experience developing new treatments for common diseases. Dr. David Moskowitz, the Company's Chairman and Chief Medical Officer, developed a new drug treatment that delays the progression of kidney disease caused by type 2 diabetes (adult-onset diabetes). Based on data from patients treated by Dr. Moskowitz over a three year period, the drug regimen slowed the rate of progression of renal disease due to type 2 diabetes by 200 percent in African-American men and 50 percent in Caucasian men. With the new treatment, the time to kidney dialysis for African-American men increased from 3.3 years to an average of 9.3 years; treatment for Caucasian men extended the time to dialysis from 2.7 years to 4.0 years. The disease was reversed altogether when patients were treated early in the course of the disease-- before their serum creatinine, a standard measurement of kidney function, reached 2 milligrams per deciliter. The data suggests that if this new treatment were started early enough, both African-American and Caucasian patients with diabetes would never need dialysis. According to Dr. George Griffing, the director of the division of general internal medicine at Saint Louis University School of Medicine, "GenoMed's findings offer great hope to patients with certain devastating diseases, and dramatic opportunity for cost savings."
GenoMed's use of its proprietary DiseaseGeneNet(TM) represents a unique approach to the science of medical genomics. Medical genomics is intended to extend and improve life by identifying genes which cause disease, allowing drugs to be developed which counteract the effects of these disease-causing genes.
About GenoMed
GenoMed is a medical genomics company based in St. Louis, Missouri, that is working to interpret the knowledge of disease genes to provide improved patient treatments rapidly and safely. The company's primary work is genotyping disease specimens. Building on its initial discoveries and successes, GenoMed is dedicated to (1) identifying additional disease- associated genes; (2) working on new treatments using existing drugs; and, (3) developing new drugs specifically designed against disease-causing genes. GenoMed's stock ticker symbol is GMED.
For additional information specific to the new treatment, please visit www.genomedics.com and contact Craig Hall at 941.366.6677 or e-mail at chall@floridafunds.com for a GenoMed investor package.
SOURCE GenoMed, Inc.
CONTACT: Media, Russell LaMontagne, +1-212-219-0800, for GenoMed, Inc.;
or Investors, Craig Hall of GenoMed, Inc., +1-941-366-6677/
Web site: genomedics.com
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