WOW!!!! Now thats news
ChromoCure Signs LOI With Genome Research Group to Merge and Acquire All IP Assets in Transaction Valued Over [KGYPFRW]
RENO, NV, Apr 15 (MARKET WIRE) --
ChromoCure, Inc. (PINKSHEETS: KKUR) -- The Company signed a Letter of
Intent with Genome Research Group (GRG). Under the terms of the
Agreement, ChromoCure will acquire and merge with GRG and combine the
Company's operations and assets with all GRG Intellectual Property (IP)
assets and operations.
The merger transaction is valued in excess of $25,000,000 and results in
significant increases to shareholder equity and reductions in long-term
liabilities. GRG management will assume control of the new entity. All
current members of the ChromoCure Board and executive management will
step down as part of the transaction. The Company intends to change its
name to Genome Research Group to properly reflect its new operations. The
ChromoCure brand will continue to be used to promote the Company's
collaborative research initiatives.
Operations and assets include GRG's proprietary advanced therapeutic
modeling protocols and algorithms utilizing hypothermic modulation and
resonance. Included also is GRG's therapeutic results and findings,
methodologies and proprietary knowledge in the non-toxic and non-invasive
treatment of cancer.
GRG's advanced Therapeutic Modeling Protocols, together with ChromoCure's
landmark Chromosomal Scanning Technology, further strengthens the
Company's leadership in Cancer Detection, Therapy and Cure by providing
on-demand, real-time cancer progression analysis to monitor and determine
treatment efficacy; and puts new impetus to its groundbreaking Project
Boveri: Finding the Cure.
The Company had recently announced a Technology Exchange and
Collaboration Agreement with GRG, and through the initial integration
phase, determined that joining forces and merging technology and
operations would be of mutual benefit in advancement of their shared
objective; as a focused Cancer Therapy and Cure Research & Development
organization. The Company recently announced its accelerated Therapy and
Cure initiatives through the launch of Project Boveri: Find the Cure;
properly reflecting its pioneering role in cancer detection, therapy and
cure; and its increased research programs and collaborations.
The Company will be conducting its due diligence and will advise in a
timely fashion as to the progress of the completion of this Letter of
Intent and the details regarding the transaction.
About ChromoCure
ChromoCure develops and provides proprietary cancer detection systems and
related therapeutic technologies. The Company's proprietary CS200
Chromosomal Scanner has been proven accurate and efficient in the
measurement of the unique genomic characteristic found in 100% of all
cancers and never found in normal cells. The Company's detection
technology has an effective accuracy of 100% for all cancers at all
stages. The Company believes its technology will become the worldwide
gold standard for cancer detection, progression measurement, and research
for both therapy and cure. The Company also applies its technology and
knowledge to cancer cure and therapeutics research.
Safe-Harbor Statement
This release contains statements or projections regarding future
performance that is forward-looking statements as defined in the Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially from those projected as a result of certain risks and
uncertainties. The company's filings contain various RISK FACTORS (and
are incorporated herein by reference) and should be read before any
investment decision.
ChromoCure, Inc.
www.ChromoCure.com
info@chromocure.com
Tel 1.775.636.6548
Copyright 2010, Market Wire, All rights reserved.
-0-
15Apr10 12:30 GMT
Symbols:
us;KKUR
Source MW MarketWire
Categories:
DRU HEA INW MNG MRG NEWR MST/I MST/I/HCS MST/I/HEA MST/I/MDV MST/R
MST/R/US MST/L/EN MST/R/US TGT/BGN
