SOURCE: DNAPrint Genomics, Inc.

October 31, 2006 07:00 ET

DNAPrint Genomics Partner, Biofrontera A.G., Commences Trading on German Stock Exchanges

SARASOTA, FL -- (MARKET WIRE) -- October 31, 2006 -- DNAPrint Genomics, Inc. (OTCBB: DNAG) today announced that Biofrontera A.G., in which the Company now holds an approximate 10% stake, commenced trading of its common stock yesterday under the symbol B8F on the Börse Dusseldorf (Dusseldorf Stock Exchange), finishing the trading day at EUR 15.25 (approximately $19.40 US), and commenced trading today on the Frankfurter Wertpapierbörse (Frankfurt Stock Exchange).

DNAPrint's stake in Biofrontera consists of 455,234 shares of common stock acquired in July 2005. The euro conversion rate for Oct. 30 was EUR 1.0 = $1.27 US, according to Bank of America. These shares remain restricted, however, and cannot be traded for twelve months from the commencement of trading.

Biofrontera stock is expected to begin trading on Xetra®, the trading system for the Deutsche Börse (German Stock Exchange) on Thursday, Nov. 2.

"We have long maintained that DNAPrint's acquisition of Biofrontera's stock was a sound investment," stated President and Chief Executive Officer Richard Gabriel. "We congratulate Biofrontera on a successful Frankfurt Exchange IPO and we are confident that our investment will generate a substantial equity position for DNAPrint."

Mr. Gabriel is on the Board of Directors of Biofrontera.

About Biofrontera A.G.

Biofrontera A.G. is a biopharmaceutical company specializing in the development of drugs for the treatment of dermatological and inflammatory diseases. The Company has a broad, proprietary product portfolio in varying stages of clinical development. BF-200 ALA, a treatment for actinic keratosis (precancerous skin lesions) and for condyloma (genital warts), is now in phase IIb/III clinical trials. BF-1, a treatment for migraine headaches, is expected to begin clinical development in the fourth quarter of 2006. BF-derm 1 is a proposed treatment for chronic, antihistamine-refractory urticaria (chronic itching) that is in Phase II clinical trials. BF-37, a treatment for atopic dermatitis (often called eczema) is also in Phase II clinical trials.

Biofrontera was founded in 1997 by Prof. Dr. Hermann Lübbert, the current C.E.O. The Company has its headquarters in Leverkusen, Germany, and has access to laboratory facilities at Ruhr-University Bochum. For more information, visit http://www.biofrontera.com/.

About DNAPrint Genomics, Inc.

DNAPrint Genomics, Inc. (www.dnaprint.com) is a developer of genomics-based products and services in two primary markets: biomedical and forensics. DNAPrint Pharmaceuticals, Inc., a wholly owned subsidiary, develops diagnostic tests and theranostic products (drug/test combinations) using the Company's proprietary ancestry-informed genetic marker studies combined with proprietary computational modeling technology. Computational Biology and Pharmacogenomics services are also offered externally to biopharmaceutical companies. The Company's first theranostic product is PT-401, a "Super EPO" (erythropoietin) dimer protein drug for treatment of anemia in renal dialysis patients (with end stage renal disease). Preclinical and clinical development of all the Company's drug candidates will benefit from simulated pre-trials to design actual trials better and are targeted to patients with genetic profiles indicating their propensity to have the best clinical responses. DNAPrint is proud of its continued dedication to developing and supplying new technological advances in law enforcement and consumer ancestry heritage interests. Please refer to www.dnaprint.com for information on law enforcement and consumer applications which include DNAWitness ™, RETINOME™, AncestryByDNA™ and EuroDNA™. DNAWitness-Y and DNAWitness-Mito are two tests offered by the Company. The results from these tests may be used as identification tools when a DNA sample is deteriorated or compromised or other DNA testing fails to yield acceptable results.

Forward-Looking Statements

All statements in this press release that are not historical are forward-looking statements. 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, except as may be required by applicable law or regulation 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 Information

  • Company Contact:
    Richard Gabriel
    CEO and President
    941 366-3400

    Ron Stabiner
    The Wall Street Group, Inc.
    212-888-4848