SOURCE: DNAPrint Genomics, Inc.

November 15, 2005 07:00 ET

DNAPrint genomics to Acquire Ellipsis Biotherapeutics

Compatible Technologies Target Development Drugs for Personalized Medicine

SARASOTA, FL -- (MARKET WIRE) -- November 15, 2005 -- DNAPrint™ genomics, Inc. (OTC BB: DNAG), a developer of genomics-based products and services, today announced that it has entered into an agreement to acquire the clinical genomics and genotyping assets of Ellipsis Biotherapeutics Corporation ("Ellipsis"), a privately held drug and diagnostic discovery company based in Toronto, Canada.

Under terms of the agreement, Ellipsis is selling these core assets for 6,500,000 shares of DNAPrint genomics common stock. Pending completion of DNAPrint due diligence and Ellipsis shareholder approval, the transaction is expected to be completed by Nov. 30, 2005. DNAPrint will retain Ellipsis' employees, management and business operations. In addition, DNAPrint will retain the Ellipsis Biotherapeutics name and operate Ellipsis Biotherapeutics as a subsidiary of DNAPrint genomics.

"Ellipsis has developed novel drug technologies and has spun those operations out," stated Hector J. Gomez, M.D., Ph.D., DNAPrint Chairman and Chief Medical Officer and head of its wholly owned DNAPrint Pharmaceuticals, Inc. subsidiary. "The value for DNAPrint is that Ellipsis' platform technology is highly compatible with our mission to expand our capabilities and increase our revenues."

Richard Gabriel, DNAPrint President and Chief Executive Officer, noted that DNAPrint is actively involved in development of pharmacogenomics through in-house research, licensing agreements and the acquisition of synergistic technologies, all targeting future growth for the Company. "Our recent acquisition of Kenna Technologies, which builds computer models that mimic complex biological systems, as well as Ellipsis' synergistic gene platform applications, will broaden our capabilities and add to the growing number of products in our pipeline."

Ellipsis is located in downtown Toronto adjacent to the academic health science complex and major teaching hospitals. Using the Beckman Coulter GenomeLab SNPstream and the Illumina Beadstation, Ellipsis performs contract SNP genotyping for academic centers, hospitals, human health care corporations and biotech companies. Its diverse services include human, plant and animal analyses.

"We are very excited to become part of the DNAPrint group of companies," stated Dr. Laurence Rubin, Chief Executive Officer of Ellipsis. "Our core competencies provide a unique fit for the future growth and development of our contract services as well as opportunity to participate in novel research programs and collaborations."

About DNAPrint

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 (end stage renal disease). Pre-clinical and clinical development of all the Company's drug candidates will benefit from simulated pre-trials to better design actual trials and are targeted to patients with a genetic profile indicating their propensity to have the best clinical response. 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 EURO-DNA™.

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 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
    President and CEO
    941-366-3400
    -or-
    Ron Stabiner
    The Wall Street Group, Inc.
    212-888-4848