TORONTO, May 17, 2018 /PRNewswire/ - GeneNews Ltd ("Genenews" or the "Company") (TSX:GEN) today announced that it is partnering with AIM Laboratories ("AIM"), a privately held diagnostic laboratory in St Louis, Missouri to offer its tests to AIM's client base. GeneNews will reciprocate by offering AIM's tests to the Innovative Diagnostic Laboratory client base.
GeneNews, through Innovative Diagnostic Laboratory ("IDL"), its wholly-owned subsidiary in Richmond, Virginia, operates a full service reference lab focused on early cancer risk stratification and diagnosis and has a strong U.S. presence on the East and West coasts. AIM Laboratories operates a full service reference lab focused on routine blood testing and specializing in therapeutic drug monitoring for prescribed and illicit drugs and services about 20 States with particular strength in the Midwest.
"Combining forces and capitalizing on each company's geographic strengths will help both parties expand rapidly throughout the U.S. Market," commented James R. Howard-Tripp, GeneNews' Chairman and CEO. "In addition, this collaboration will give both companies the opportunity to expand their test menus in order to provide additional benefits to new and existing practices and healthcare systems."
"IDL and AIM already work together in servicing some of IDL's clients in the Midwest," said Sonny Naqvi, AIM's CEO. "This new agreement will allow us to expand operations together, particularly in the fast growing areas of high-risk populations and telemedicine."
The collaboration will begin immediately.
GeneNews, an innovator in the liquid biopsy space, is committed to becoming a leader in advanced diagnostics and personalized medicine, serving as a strong commercialization outlet for early detection of cancer and other chronic diseases. Our mission is to identify, assess and make commercially available a comprehensive menu of diagnostics that provide physicians and patients with personalized clinical intelligence and actionable information to improve health out-comes through the early diagnosis of disease. Our Richmond, Virginia-based Innovative Diagnostic Laboratory clinical reference lab specializes in traditional and advanced clinical evidence-based blood testing that helps find, understand, and address cancer risk in patient populations. Currently, IDL offers risk assessment blood tests for four prevalent cancer types - colon, lung, prostate and breast. GeneNews' common shares trade on the Toronto Stock Exchange under the symbol 'GEN'. More information on GeneNews and IDL can be found at www.GeneNews.com and www.myinnovativelab.com, respectively.
About AIM Laboratories
AIM Laboratories is a premiere, community-based clinical laboratory strategically located in the center of the U.S., in St. Louis Missouri. AIM Laboratories was established by a unique group of dedicated scientists and business executives to provide the healthcare community with the highest level of localized science, service and support. While our advanced facility and scientific staff are capable of running 1000 tests an hour, each of our clients receive superior, prompt and individualized service.
This press release contains forward-looking statements identified by words such as "expects", "will" and similar expressions, which reflect the Company's current expectations regarding future events, including the restructuring of its business. The forward-looking statements involve risks and uncertainties that could cause the Company's actual events to differ materially from those projected herein. Investors should consult the Company's ongoing quarterly filings and annual reports for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements, except as required by law.
SOURCE GeneNews Limited