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Med BioGene Enters Development Phase For Genetic Screening Test For Colorectal Cancer
February 15, 2007
VANCOUVER, BRITISH COLUMBIA – Med BioGene Inc. (TSX Venture: MBI), a biotechnology company developing genetic biomarkers to improve screening, diagnosis, prognosis and treatment decisions for patients suffering from certain cancers and cardiovascular disease, is pleased to announce that it has  entered the development phase for its genetic screening test for colorectal cancer (CRC).

Under a protocol recently approved by the Ontario Cancer Research Ethics Board, MBI expects to acquire a substantial number of tissue and blood samples from patients with pathologically categorized CRC for use in MBI’s on-going development and validation of its genetic screening test for CRC.

In Canada and the United States, CRC is the fourth most common cancer in both men and women, resulting in approximately 58,000 deaths each year.  Approximately 170,000 Canadians and Americans will be diagnosed with CRC in 2007. 

Early detection of CRC significantly reduces its mortality rate.  Fecal occult blood testing (FOBT), the most widely used screening tool for CRC, when undertaken every 1-2 years leads to a 15–33% reduction in deaths from CRC.  However, the sensitivity of an individual FOBT test is in the low 20% range and false-positive or indeterminate results lead to costly, unnecessary and invasive tests, such as colonoscopy.  Only 37% of CRC cases are diagnosed while the tumor is localized and can be effectively treated, suggesting that current approaches to screening are ineffective because of inadequate test sensitivity, low patient acceptability of invasive and unpleasant test procedures and/or unreliable access within the healthcare system. 

“There are currently no screening tests for colorectal cancer that are both non-invasive and of high predictive value.  Med BioGene is developing a gene expression screening tool to fill that void” said Erinn Broshko, Chief Executive Officer of MBI.  “Screening for colorectal cancer is a multi-billion dollar industry and we believe that Med BioGene is well-positioned to develop this much needed tool” concluded Mr. Broshko. 

About Med BioGene

MBI is a biotechnology company with advanced research and development in gene expression technology. MBI intends to utilize its expertise in gene expression to identifying those genes, known as "biomarkers," which mark the presence of various diseases. These biomarkers will be used as an effective tool for accurate and rapid screening and diagnosis and to unlock innovation in therapeutic development and treatment. With a robust set of qualified biomarkers, disease screening and diagnosis will be quicker, less invasive and more accurate and the safety of new therapeutics will be increased, drug products will get to patients in less time and treatment decisions will be more informed.

MBI is currently focused on developing and validating biomarkers in respect of lymphoma, leukemia, colorectal cancer and cardiovascular disease through its Gene Expression Profiling SystemTM.

For corporate information, please contact:

Erinn B. Broshko
Chief Executive Officer
(604) 306-4969
ebroshko@medbiogene.com
www.medbiogene.com

For investor relations information, please contact:

David Gordon
The Howard Group Inc.
(888) 221-0915
info@howardgroupinc.com
www.howardgroupinc.com

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Certain statements in this press release contain forward-looking information under applicable Canadian securities legislation.  Words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “will,” “would” and similar expressions are intended to identify forward-looking information, although not all forward-looking information contains these identifying words. Forward looking information includes, but are not limited to, those with respect to future profits, future product revenues, future operations and plans, the use of proceeds from financings, the timing of clinical trials and the completion date for clinical trials and the prospects for negotiating partnerships or collaborations and their timing. These forward-looking statements or information are only predictions based upon MBI’s current expectations, and actual events or results may differ materially. MBI may not actually achieve the plans, intentions or expectations disclosed in its forward-looking information. Forward-looking information is subject to known and unknown risks and uncertainties and are based on uncertain assumptions that could cause MBI’s actual results and the timing of events to differ materially from those anticipated in such forward-looking information. You are cautioned not to place undue reliance on this forward-looking information, which speaks only as of the date of this press release. Our forward-looking information does not reflect the potential impact of any future partnerships, collaborations, acquisitions, mergers, dispositions, joint ventures or investments MBI may make. All forward-looking information is qualified in its entirety by this cautionary statement and MBI undertakes no obligation to revise or update any forward-looking information as a result of new information, future events or otherwise after the date of this press release, other than as required by applicable law.

 
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