020429 Mad Cow Strip Test Under Review in Europe

New York, NY - Genesis Bioventures, Inc. announced the preliminary test results of a lateral flow strip test for Mad Cow Disease developed by one of its investee companies, Prion Developmental Laboratories, Inc. ("PDL").

Dr. Pierluigi Gambetti, Director, National Prion Disease Pathology Surveillance Center, and his research team headed by Professor Man-Sun Sy, PhD., at Case Western Reserve University and Dr. Richard Rubenstein, Head of the laboratory of Molecular and Biochemical Neurovirology at the NYS Institute for Basic Research in Staten Island, New York have developed unique antibodies capable of detecting abnormal prions in a novel testing platform. In particular, the researchers have identified antibodies that work together to detect abnormal prion proteins in bovine, deer, and sheep brain tissue.

These findings have led to the development of a lateral flow strip test to detect abnormal prion proteins specifically related to Bovine Spongiform Encephalopathy ("BSE") or Mad Cow Disease. As a result of the development of the strip test, PDL has initiated development of a unique test kit to analyze solid brain tissue samples for the purpose of diagnosing Mad Cow Disease. PDL has filed a patent application on the use of the test for detection of prion containing material.

Preliminary tests in an independent European laboratory have demonstrated comparable sensitivity of the PDL strip test with the more time consuming Bio- Rad BSE test, which is currently the standard test in use in Europe and Japan. The PDL test is still under review in Europe with larger validation studies planned. A number of possible business relationships between PDL and the European pharmaceutical company conducting the evaluation are being investigated.

Dr. Robert B. Petersen, Chief Scientific Officer at PDL stated, "The novel platform developed at PDL, using our sister company Virotek's proprietary strip test technology, has allowed us to produce a robust test requiring less time and equipment than any test marketed today. We are excited about going forward with a large study to demonstrate the sensitivity and specificity of our test. The spread of chronic wasting disease in North America, as detailed in the press, makes development of these tests even more critical as we try to limit the possibility of these diseases affecting livestock."

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