News came out yesterday. Price jumped to 1.32
CytoGenix Enters into a Supply Agreement with GE Healthcare for DNA Production Reagents [FXMYVCC]
HOUSTON--(Business Wire)--March 23, 2006--
GE Healthcare, a unit of General Electric Company
(NYSE:GE), and CytoGenix, Inc. (OTCBB:CYGX) have entered into a supply
agreement in which GE Healthcare will provide CytoGenix with DNA
production reagents for use in the manufacture of vaccines and
therapeutic compounds by CytoGenix.
Under the terms of the agreement, GE Healthcare has agreed that
CytoGenix will be its exclusive customer for these reagents where the
intended application is the manufacture of therapeutic compounds using
CytoGenix' proprietary processes.
CytoGenix' proprietary synDNA(TM) is a cell-free production
process that enables a more efficient manufacturing cycle than
extraction of DNA from bacterial fermentation. CytoGenix expects to
begin production of commercial-scale amounts of synDNA(TM) in April
and continue development of DNA vaccines and therapeutic products
against infectious diseases (herpes infections, multi-drug resistant
bacterial infections), inflammatory disorders (psoriasis) and cancer.
"This guaranteed source of GMP grade reagents is vital to our
product development especially for our pandemic and bioterrorism
vaccine program," said Dr. Malcolm Skolnick, CytoGenix, Inc. President
and CEO. "We are very pleased to enter into this agreement with GE
Healthcare and look forward to working with them to expand the
development of DNA-based pharmaceuticals," added Dr. Skolnick.
"We believe CytoGenix can effectively utilize GE's innovative
disease research technologies with its own ground-breaking research to
ultimately enhance the efficiency of healthcare delivery and increase
the breadth of options for patient care," said Carl W. Fuller, Ph.D.,
Vice President Science Fellow at GE Healthcare.
About CytoGenix
CytoGenix, Inc. is a Houston-based biopharmaceutical company that
develops and markets innovative products and services based on its
proprietary ssDNA expression technology. The company has developed a
breakthrough synthetic process for large-scale production of high
purity DNA at fraction of the cost of traditional fermentation
methods. CytoGenix currently has one issued US patent and over 41
international or US pending patent applications claiming methods and
materials in connection with this platform technology. Additional
information about CytoGenix and its technology can be found on the
website at
www.cytogenix.com.
SAFE HARBOR: Except for statements of historical fact, the
statements in this press release are forward-looking. Such statements
are subject to a number of risks and uncertainties that could cause
actual results to differ materially from the statements made. These
factors include, but are not limited to, general economic conditions,
risks associated with the acceptance of new products, competition, and
other factors more fully detailed in the company's filings with the
Securities and Exchange Commission. Additional information about
CytoGenix and its technology can be found on the website at
www.cytogenix.com.
CytoGenix, Inc., Houston
Frank Vazquez, 713-789-0070
fvazquez@cytogenix.com
or
Edelman
Amy Meshulam, 323-202-1065
amy.meshulam@edelman.com