Genesis Bioventures Announces Letter Of Intent For Sales And Distribution Of Mad Cow Test Product In China

Los Angeles, CA - Genesis Bioventures, Inc. (GBI) recently announced that BioBDC, the Company's exclusive agent for sales and distribution of Prion Developmental Laboratories' (PDL) Rapid BSE assay for Mad Cow testing for the Pacific Rim, received a Letter of Intent from Wantai Biological Pharmacy Enterprise Co., Ltd. in Beijing, to sell and distribute the Rapid BSE test kits throughout China.

"We are very pleased with this development. Mr. Stuart Brame, President of BioBDC and Dr. Robert Petersen, CEO of PDL were invited to participate in a technology forum in Beijing," said, Douglas C. Lane, President and CEO of Genesis Bioventures. "This Letter of Intent followed from their visit and indicates the high level of interest in PDL's Rapid BSE Assay in China."

"As President of BioBDC we are extremely excited about the progress we have made with our international team in establishing market acceptance in our distribution area," said, Mr. Stuart Brame, President of BioBDC. "The uniqueness and user ease of the (PDL) BSE assay has established a new on site inexpensive benchmark for related testing and we anticipate quick market penetration as we move to product sales."

Genesis Bioventures holds the exclusive worldwide sales, marketing and distribution license for PDL's rapid assays. The Company intends to establish international distribution by exclusive licenses with key partners in six major territories: Pacific Rim; United States; Canada; Europe; South America; and Rest of World. PDL's BSE Rapid Assay is an inexpensive, fast, and easy to perform alternative to current laboratory methods.

SOURCE: About Genesis Bioventures, Inc.