GenoMed, Inc. Signs Letter of Intent With Healthcare Management Company
ST. LOUIS, May 30 /PRNewswire-FirstCall/ -- GenoMed, Inc. (OTC Pink Sheets: GMED) ("the Company" or "GenoMed"), a St. Louis, Missouri-based medical genomics biotechnology company, announced today that it has signed a Letter of Intent to license its ACE inhibitor treatment regimen to the physicians under management by the Saint Louis Management Group, Inc. Saint Louis Management Group is a healthcare management company serving 3,800 physicians located in Missouri, Illinois, Arkansas, and Louisiana, including 1,000 physicians in the St. Louis area.
Saint Louis Management Group, founded in 1985 by Michael Wood, is a leading physician management company specializing in group purchasing and physician education. GenoMed's treatments will be administered by Saint Louis Management Group's physicians under GenoMed's close supervision.
Michael Wood, President and CEO of Saint Louis Management Group, stated that "GenoMed's drug regimen is exactly what we are looking for to distinguish our physicians in the marketplace. Our physicians are committed to improving patient outcomes, which GenoMed can clearly deliver. We are confident that patients in the Midwest, especially in the 'Show Me' state, will seek out physicians who can demonstrate superior outcomes. GenoMed's patient outcomes data are superior to anything that I or many of my physicians have seen yet in the medical literature." Mr. Wood further commented, "Most patients want to avoid surgery or hospitalization, so the best approach is to keep them healthy. GenoMed's treatment regimen will help us to accomplish this."
Dr. David Moskowitz, GenoMed's Chairman and Chief Medical Officer, said, "We are extremely pleased to have Saint Louis Management Group join GenoMed's licensing program. We're excited about the growing number of physician organizations which are embracing GenoMed's mission of preventive molecular medicine. Saint Louis Management Group represents hundreds of thousands of new patients who will be eligible for GenoMed's treatment regimens. This collaboration is significant because the potential revenues to be derived from this licensing agreement will be earmarked for the discovery of new disease genes. Collaborations such as this allow us to continue the development of new treatments and products such as the Company's Healthchip(TM). More importantly, we are licensing treatment regimens that have the potential to dramatically improve patients' quality of life. I've seen how important these treatment regimens can be in over 3000 patient-years of clinical experience with my own patients."
GenoMed, Inc. is a medical genomics company whose mission is to improve patient outcomes by identifying the genes that cause disease. A recent St. Louis Business Journal article (http://www.stlouis.bizjournals.com/stlouis/stories/2002/05/13/story8.html) reported that the company has applied for patents based on its finding that the ACE gene is associated with nearly 40 common, age-related diseases. The Company has filed patent applications on its new treatments for both human and veterinary use. A video version of the company's treatment results for chronic kidney failure is available at 216.234.225.2
Consistent with the Company's goal to improve patient outcomes globally, GenoMed is currently working to license its treatments to physicians and healthcare systems worldwide. GenoMed recently held a press conference at La Clinica Health Center (3646 Fairview Ave., St. Louis, MO; tel. 314-664-5565) on Thursday, May 23, 2002 to discuss licensing the same treatment to La Clinica for its Hispanic population, who have a 50% prevalence rate of diabetes. The press conference was held jointly with Lieutenant Governor Joe Maxwell, who encouraged senior citizens to sign up for Missouri Senior Rx Program, and urged improvement in minority health outcomes.
For questions, please contact Krissy Fischer, tel. 1-877-GENOMED, FAX 314-977-0042, email: kfischer@genomedics.com, or visit GenoMed at www.genomedics.com.
SOURCE GenoMed, Inc.
CONTACT: Krissy Fischer of GenoMed, Inc., +1-877-GENOMED, or fax,
+1-314-977-0042, or kfischer@genomedics.com/
Web site: genomedics.com |
