TORONTO, June 20 /PRNewswire-FirstCall/ - Predictive medicine companyPreMD Inc. (TSX: PMD; Amex: PME) today announced the successful completion ofits agreement with one the world's leading health and beauty companies. As aresult of the completion of this project, PreMD expects to enter intoadditional agreements with the company for further product development andother skin testing initiatives.
"We are very pleased to be working with a leading health and beautycompany to jointly develop new and highly promising applications in skin-basedtests," said Dr. Brent Norton, president and CEO of PreMD Inc.
Dr. Norton continued: "On June 4, PreMD announced it had appealed therecent decision made by American Stock Exchange (the "AMEX") to delist itsstock. We have requested an oral hearing with the AMEX listing committee inorder to present our strategy and progress in achieving our objectives. Atthis time we believe the hearing will not take place until late August orSeptember. While there is no guarantee that we will be successful inmaintaining our AMEX listing, we will continue to devote substantial effortsto achieving this and building value in the company."
About PreMD Inc.
PreMD Inc. is a leader in predictive medicine, dedicated to developingrapid, non-invasive tests for the early detection of life-threateningdiseases. PreMD's cardiovascular products include a line of non-invasive skincholesterol tests. PreMD's other skin cholesterol products include PREVU(x)LT, a skin cholesterol test designed for use in the life insurance industry.The Company's cancer tests include ColorectAlert(TM), LungAlert(TM) and abreast cancer test. PreMD's head office is located in Toronto, Ontario and itsresearch and product development facility is at McMaster University inHamilton, Ontario. For more information about PreMD, please visitwww.premdinc.com.
This press release contains forward-looking statements. These statementsinvolve known and unknown risks and uncertainties, which could cause theCompany's actual results to differ materially from those in theforward-looking statements. Such risks and uncertainties include, amongothers, the successful development or marketing of the Company's products, thecompetitiveness of the Company's products if successfully commercialized, thelack of operating profit and availability of funds and resources to pursue R&Dprojects, the successful and timely completion of clinical studies, productliability, reliance on third-party manufacturers, the ability of the Companyto take advantage of business opportunities, uncertainties related to theregulatory process, and general changes in economic conditions. In addition,while the Company routinely obtains patents for its products and technology,the protection offered by the Company's patents and patent applications may bechallenged, invalidated or circumvented by our competitors and there can be noguarantee of our ability to obtain or maintain patent protection for ourproducts or product candidates.
Investors should consult the Company's quarterly and annual filings withthe Canadian and U.S. securities commissions for additional information onrisks and uncertainties relating to the forward-looking statements. Investorsare cautioned not to rely on these forward-looking statements. PreMD isproviding this information as of the date of this press release and does notundertake any obligation to update any forward-looking statements contained inthis press release as a result of new information, future events or otherwise.
SOURCE PreMD Inc.