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Genesis Bioventures Announces Breast Cancer Marker Granted European Diagnostic and Therapeutic Patent Approval

Posted on: Tuesday, 19 June 2007, 15:00 CDT

Genesis Bioventures, Inc. (OTCBB:GBIW) announced today that Mammastatin, the breast cancer marker exclusively licensed to the Company by the University of Michigan, was granted an additional Patent from the European Patent Office for diagnostic and therapeutic uses. The Mammastatin technology is developed for use as the Mammastatin Serum Assay, a breast cancer risk assessment test developed by Biomedical Diagnostics, the Company's subsidiary.

"We are very pleased with this positive development," said Douglas C. Lane, President and CEO of Genesis Bioventures. "This patent grant further validates the global patentability of the Mammastatin technology and extends our proprietary MSA test to 16 European nations."

"This further solidifies the domestic and international intellectual property protection strategy we have implemented with the University of Michigan," continued Mr. Lane. "The issuance of this patent will be very important as we gain further regulatory approval and market presence for the Mammastatin technology internationally. This newest patent grant notification will expand our worldwide patent protection and marketability for MSA."

The MSA was initially developed at the University of Michigan Cancer Center and is licensed exclusively to the Company by the university for scientific and commercial development as a blood test to assess women's health. The Company also has the exclusive worldwide option to develop Mammastatin for breast cancer therapeutic purposes.

About Genesis Bioventures, Inc.

Genesis Bioventures, Inc. is a biomedical development corporation focusing on the development and marketing of novel diagnostics and therapeutics in oncology and neurodegenerative diseases.

Statements in this press release that are not strictly historical facts are "forward-looking" statements (identified by the words "believe", "estimate", "project", "expect" or similar expressions) within the meaning of the Private Securities Litigation Reform Act of 1995. These statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, changes in the regulatory environment, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. The statements in this press release are made as of today, based upon information currently known to management, and the Company does not undertake any obligation to publicly update or revise any forward-looking statements.

Source: Business Wire

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