Auckland, New Zealand, 18 July 2012 - Genesis Research and Development
Corporation Ltd (NZSX/ASX: GEN) advises that the Memorandum of Understanding
with Mariposa Health Ltd regarding a proposed merger of the two companies has
been terminated.
On 12th January 2012 Genesis announced a proposal to merger with Mariposa
Health Ltd. Both parties have worked diligently to advance the proposal but
it has become apparent that the merger as originally contemplated is unlikely
to proceed so the MOU has been terminated.
About Genesis
Founded in 1994, Genesis is a New Zealand-based biotechnology company that
built a broad therapeutic development platform targeting immune disorders and
cancer and a novel single stranded gene silencing technology using the RNAi
mechanism. Genesis holds an equity interest in Real Time Genomics Inc. and
has royalty rights resulting from previous collaborations for various
products that are being developed by other parties in the fields of
agriculture, forestry, etc. For further information see www.genesis.co.nz
Media contacts:
Stephen Hall, Chief Executive - Genesis Research and Development Corporation
Limited, +64 21 715 725
Aki von Roy, Chairman- Genesis Research and Development Corporation Limited,
+64 21 556 659
End CA:00225086 For:GEN Type:MERGER Time:2012-07-19 08:30:11