Shares of GeneThera Inc. (OTCBB: GTHA) jumped up 45 percent, in early trading today, gaining $0.0145 to $0.0455 per share on volume of 854,948.
The company announced that it has received a contract from the Intramural Research Program, National Institute on Aging, and National Institutes of Health (NIH) to genetically engineer monoclonal antibodies and make them “clinically usable.” The antibodies are expected to be used for treatment of hypertension.
“We are very delighted at the opportunity to work with the NIH; the largest research organization in the world. I believe this is a great opportunity for GeneThera Inc,” stated Dr. Tony Milici – CEO and Scientific Director of GTHA – in a press release.
The work will commence on June 20, 2007, and be performed by GTHA’s Colorado facility.
The company provides genetics-based diagnostic and is currently working on vaccine solutions to meet the growing demands of today’s veterinary industry and tomorrow’s agriculture and healthcare industries. Over the next 12 months, in order to have the capability of achieving its business plan, GTHA will require at least $5 million.
GTHA is a biotechnology company that develops molecular testing and DNA vaccines for animal diseases that may cause diseases in humans. The core of its operation is the ongoing development of molecular diagnostic assays using Real Time Fluorogenic Polymerase Chain Reaction (F-PCR) technologies to detect the presence of infectious disease from the blood of animals, particularly, live animals.