Vensearch Capital Corp.
TSX VENTURE : VNS.P

July 15, 2005 08:00 ET

Vensearch and Genetic Diagnostics Inc. Announce Issuance of Key US Patent

TORONTO, ONTARIO--(CCNMatthews - July 15, 2005) -

Not for dissemination in the United States of America

Vensearch Capital Corp. (TSX VENTURE:VNS.P) ("Vensearch" or the "Corporation") and Genetic Diagnostics Inc. ("Genetic Diagnostics"), the company with which Vensearch has previously announced a proposed business combination as its Qualifying Transaction (the "Business Combination"), are pleased to announce the recent issuance in the United States of another patent licensed to Genetic Diagnostics by Ingeneus Corp.

US Patent 6,911,536 titled Triplex and Quadruplex Catalytic Hybridization claims compositions and methods for assaying duplex DNA by the formation of triplex or quadruplex complexes which trigger catalytic reactions. By such methods probes are reacted with target DNA to form sequence specific complexes. Upon formation, the probe is enzymatically cleaved. The probe fragments dissociate from the target DNA and are replaced by other intact probes which in turn are cleaved. Probe fragments may then be detected.

Genetic Diagnostics, based in Toronto, is a development stage DNA diagnostics company that has licensed and continues to further develop a revolutionary diagnostic platform that it intends to commercialize in Canada and the United States. For more information regarding Genetic Diagnostics contact Stephen Johnston, the President at 416-360-3469 or go to www.dna3.com.

As indicated above, completion of the Business Combination is subject to a number of conditions, including but not limited to, TSX Venture acceptance. The Business Combination cannot close until the required approvals are obtained. There can be no assurance that the Business Combination will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Information Circular of Vensearch in connection with the Business Combination, any information released or received with respect to the Business Combination may not be accurate or complete and should not be relied upon. Trading in the securities of Vensearch should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the Business Combination and has neither approved nor disapproved the contents of this press release.

Contact Information

  • Vensearch Capital Corp.
    Jeffrey Dawson
    Chief Financial Officer
    1-877-932-8858