GENELINK SIGNS LETTER OF INTENT FOR LICENSING AGREEMENT WITH MEDQUEST
PHARMACY
July 8, 2002
Margate, NJ-(BUSINESS WIRE) - July 8, 2002 - GeneLink BioSciences, Inc. (OTCBB:GNLK)
announced today that it has signed a letter of intent with MedQuest Pharmacy
of Midvale, Utah, to enter into a licensing agreement for GeneLink's genetic
profiling technology for nutritional supplements and skin-care products.
This licensing agreement would allow MedQuest Pharmacy to utilize GeneLink's
patented DNA Collection Kit® and genetic profiling technologies to
provide its physician network with an innovative line of personalized skin
care and nutritional products. Further details were not disclosed.
MedQuest Pharmacy is a leading "compounding pharmacy" providing health
care practitioners with state-of-the-art diagnostic services, customized
pharmaceuticals, and nutraceutical products. MedQuest serves a growing
base of over 1,500 active healthcare professionals with 20,000 patients
by blending time-honored, individual formulation techniques with modern
medical knowledge and quality control.
"MedQuest has maintained a sharp focus on utilizing customization
to support preventive health care and longevity medicine", says John
R. DePhillipo, Chairman/CEO of GeneLink. "GeneLink and MedQuest is
an ideal association as we begin to offer the benefits of nutragenetic
and dermagenetic profiling to health care professionals and their
patients."
"We are very pleased to be associated with GeneLink and expect to
have our agreement finalized and initial order placed in the next
week," says Jacque Bray, CEO of MedQuest. "We anticipate making this
exciting technology and accompanying products available to our physician
network both nationally and internationally on August 1st".
GeneLink BioSciences, Inc., a pioneer DNA banking and hereditary genetic information
service has developed a proprietary method for genetic assessments
(patents pending) and is beginning to license these breakthrough
nutragenetic and dermagenetic profiles to companies that market or
manufacture products for the $100 billion plus skin care, nutritional
supplement and health care industries. For more information about
GeneLink, visit its website at www.genelink.info.
Forward-Looking Statements: This press
release contains certain forward-looking statements within the meaning
of section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. With the exception of historical
information contained herein, the matters discussed in this press
release involve risk and uncertainties. Actual results could differ
materially from those expressed in any forward-looking statement.
GNLK disclaims any intention or obligation to revise any forward-looking
statements whether as a result of new information, future developments
or otherwise.
SOURCE: GeneLink BioSciences, Inc.
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