Business Wire - OCT 30, 2001
Dr. Ronald Watson, a prominent national scientist in Nutritional Immunology, will join Biosystems as a director and officer to lead the company's research efforts in the development of new treatments for HIV/AIDS, cancer and immune-related diseases. Dr. Watson has published over 450 articles and has edited over 50 books in the area of Nutrition and Immunology.
Dr. James Wang, Genesis's CEO and President explained, "Biosystems Technologies operates within a virtual company business model with the specific goal of commercializing, marketing and distributing novel diagnostic and therapeutic tools for the treatment of HIV/AIDS, cancer, and other immune-related diseases. Our strategy will seek to effectively control the costs of research and development, lessen the time between clinical research and commercial use, reduce the need for an expensive infrastructure, enable concentration on specific clinical objectives, and bring in licensing and sales revenues with future royalty potential".
"This is another important milestone in the company history. Two of the guiding principles of our business model are based on achieving profitability and maximization of shareholder value. With our already existing profitable operations in place, management believes entering into the biotechnology industry is an excellent use of our resources and expertise and will offer us a competitive advantage in the marketplace in growing our revenues and earnings for years to come. Biosystems Technologies expects to announce some new technology partnerships and agreements in the coming weeks", Dr. Wang concluded.
About Genesis Technology Group, Inc.
The mission of Genesis Technology Group, Inc. is to accelerate the success of technology companies by acquisition and development. The Company develops, invests in, and operates technology related companies in the US, China, Taiwan, Hong Kong and Singapore. The Company strategy includes the internal development and operation of subsidiaries within the Company corporate family, as well as investment in other technology companies directly, and through other venture capital arrangements. The Company strategy also envisions and promotes opportunities for synergistic business relationships among all of the companies within its family. For more information on the company, please visit http://www.genesis-technology.net.
About Biosystems Technologies, Inc.
Biosystems Technologies, Inc. is engaged in the commercialization, marketing and distribution of biomedical products and technologies used to diagnose and treat HIV/AIDS, cancer and other immune-related diseases. Biosystems Technologies seeks to harness the latest scientific discoveries to commercialize and market the potential of proprietary technologies that will form the basis of a range of new and potentially effective treatments for a variety of diseases. The new company's Web site is available at http://www.biosystems-technologies.com.
This announcement contains forward-looking statements that involve risks and uncertainties, including those relating to the company's ability to grow its business and in particular to operating a biotechnology company, which may involve additional regulatory approvals and procedures. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the company's limited operating history, the limited financial resources, domestic or global economic conditions, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws and conditions of equity markets. More information about the potential factors that could affect the company's business and financial results is included in the company's filings, available via the Securities & Exchange Commission.
CONTACT: Genesis Technology Group, Inc., West Palm Beach Dr. Ken Shenkman, 561/835-6600 Fax: 561/835-6611 ken@genesis-systems.net
SOURCE: Genesis Technology Group, Inc.
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