Genesis Bioventures Announces Letter of Intent for Sales and Distribution of Mad Cow Test Product in China

Genesis Bioventures, Inc. (GBI) (OTCBB:GBIW) today 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. About Wantai Biological Pharmacy Enterprise Co., Ltd. Text Wantai BPEC is an advanced biological and diagnostic company centered in Beijing, China. Wantai develops and manufactures IVD tests for detecting infectious diseases in humans. The GMP/ISO-certified company offers ELISA kits for HIV, HTLV, Treponema pallidum, and hepatitis A, B, C, D, E, and G, as well as rapid screening tests for hepatitis B and sexually transmitted diseases. In addition, the company manufactures and supplies purified recombinant antigen. Wantai with 600 employees has a state of the art diagnostic manufacturing facility with a range of diagnostic products. www.ystwt.com About BioBDC Text BBDC (Bio Business Development Corp.) is a Diagnostic Marketing Corporation holding an exclusive sales and distribution contract for the tested and patented lateral flow test in the Pacific Rim, which will become the benchmark platform for testing for Prion related animal diseases. BBDC is positioned with contracts signed with BBDC Australasia (New Zealand and Australia) and has prepared all market studies required for branding the product and delivery to our distribution partners. www.biobdc.com About Prion Developmental Laboratories PDL is a leading biotechnology company that researches, develops and produces advanced diagnostic and food safety monitoring tests for human and animal diseases caused by prions. Genesis Bioventures, Inc. has a significant investment in PDL. About Genesis Bioventures, Inc. Genesis Bioventures, Inc. is a biomedical development corporation focusing on the development and commercialization of its owned and licensed assets for diagnostic and therapeutic product development. The Company holds the exclusive worldwide license to market, sell and distribute PDL’s Rapid Assays for prion related diseases. Statements in this press release that are not strictly historical facts are "forward-looking" statements (identified by the words "believe", "estimate", "project", "expect" or similar expressions) within the meaning of the Private Securities Litigation Reform Act of 1995. These statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, changes in the regulatory environment, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. The statements in this press release are made as of today, based upon information currently known to management, and the Company does not undertake any obligation to publicly update or revise any forward-looking statements.