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Grant Life Sciences Enters into Memorandum of Understanding (MOU) With U.S. State Department's 'Bio-Industry Initiative' (BII)

Posted on: Thursday, 19 January 2006, 09:00 CST

'BII' designed to foster medical and other biological R&D in the former Soviet Union by converting former biowarfare scientists to productive peacetime activities

Grant Life Sciences Inc. (OTC Bulletin Board: GLIF) announced today the signing of a Memorandum of Understanding (MOU) with Dr. Peter Sveshnikov and Dr. Vsevolod Kiselev of the Russian Republic, for the in-licensing of certain of their technologies that are highly complementary to Grants' antibody-based test for detecting cervical cancer. The Sveshnikov/Kiselev technology comes to Grant from the U.S. State Department through its Bio-Industry Initiative (BII) program. The BII is designed to foster medical and other biological research and development in the former Soviet Union by converting former biowarfare scientists to productive peacetime activities.

Sveshnikov/Kiselev have developed an Enzyme-Linked Immunosorbent Assay (ELISA) to detect specific cancer-causing proteins from the human papillomavirus (HPV) -- the obligate cause of cervical cancer -- in the cervical mucous and cells (which make up liquid-based pap samples). The test utilizes certain monoclonal antibodies against these cancer-causing HPV proteins for detection. Thus far, the test is designed to detect cancer-causing proteins from HPV types 16 and 18 which, collectively, are responsible for most cervical disease. This type-specific antigen test, once fully validated and expanded to include additional types of HPV associated with cervical dysplasia and cancer, would be a very synergistic and complementary test to existing Pap technology. It will provide for very low-cost HPV testing as currently performed in Western countries, without the need for additional cervical specimens beyond what is now taken. In addition, large capital outlays would not be required, since most laboratories can readily do ELISA testing.

Sveshnidov/Kiselev have already tested their technology with 1000 Russian samples to confirm the potential of this technology. Grant will be further validating with more specimens from Russia and via the many cervical specimens obtained in the United States under its Institutional Review Board (IRB) approval in controlled clinical settings.

"Together, when validated, Grant will have two complementary cervical dysplasia or cancer diagnostic tests that will work on blood serum or cervical mucous and cells," said Dr. Hun-Chi Lin, President and Chief Scientist at Grant. "A blood-based test is eminently suitable for the 1.7 billion women worldwide who currently are not tested by Pap smear cytology. This inadequacy results in over 300,000 deaths per year. Meanwhile, a test employing cervical mucous or cells is readily fitting for Western medical venues, and has the potential of reducing costs dramatically when compared against those for current HPV DNA-testing. Furthermore, it could significantly reduce expenditures for follow-up referral procedures that turn out to be overwhelmingly negative, with billions of dollars per year in unnecessary medical expenses saved as a consequence."

About Grant Life Sciences Inc.

Grant Life Sciences Inc. develops products to improve the efficiency of detecting and diagnosing cervical cancer, including a sensitive, reliable, non-invasive, point-of-care test. The diagnostic assay being developed by the Company has initial clinical validation indicating superior sensitivity and specificity in detecting cervical cancer and its precursors, a disease that kills in excess of 300,000 women annually. Currently there are more than 120 million cervical screening tests administered annually in the U.S. and Europe. More than 120 million eligible women 20+ years old in developed nations still do not get Pap smears, and globally more than 1.7 billion over the age of 20 have never been checked due to cultural, religious or economic reasons. Further information is available at: www.grantlifesciences.com.

Forward-Looking Safe Harbor Statement

With the exception of historical information, the matters discussed in this press release are "forward-looking statements" that involve a number of risks and uncertainties. The actual future results of Grant Life Sciences could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rates and unanticipated events such as terrorist activities, results of clinical trials, and market acceptance of the Company's products. In some cases, "forward-looking statements" can be identified by terminology such as "may,""will,""should,""expect,""plan,""anticipate,""believe,""estimate,""predict,""potential" or "continue," or other comparable terminology. Although Grant Life Sciences believes that the expectations reflected in the "forward-looking" statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such "forward-looking statements" will be achieved. Grant Life Sciences undertakes no duty to update any of the "forward-looking statements," whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such "forward-looking statements." For further risk factors associated with our Company, review our SEC filings.

Source: Business Wire

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