GeneNews Limited announced a number of Board and management changes designed to better position its recently formed joint venture, Innovative Diagnostic Laboratory LLP (IDL), to become a leader in molecular diagnostics and personalized medicine, with a primary focus on cancer-related indications. Dr. Heiner Dreismann has stepped down as GeneNews' Interim CEO, but continues as the Company's Lead Director. In that capacity, he will leverage his wealth of experience and contacts in the molecular diagnostics industry to advance GeneNews' business development activities.

Specifically, Dr. Dreismann intends to help assemble, through a combination of internal pipeline development, third party licenses and potential acquisitions, a robust menu of advanced cancer assays to be offered by IDL in the United States. James Howard-Tripp has been appointed Executive Chair of GeneNews' Board, succeeding Rory Riggs, who has stepped down as Chair, but remains a Director. Mr. Riggs has been a member of GeneNews' Board since inception, is a large shareholder and will continue to actively support the Company.

Mr. Howard-Tripp, who joined the GeneNews Board in 2002, has specialized in the research, development and launch of innovative pharmaceutical products and the growth and development of the companies that research and market them. He has been involved in the management (GD Searle, Wyeth-Ayerst) and creation (Allelix, Labopharm, Dermacor) of several successful companies. He has 13 years' experience as a President and CEO and has sat on multiple Boards, most as Chairman.

Most recently, as President and CEO of Labopharm, he oversaw the research, development and approval of 3 products and the launch of 2, with the lead product marketed in 19 countries (total end user sales approximately $100 million).