Exhibit 99.1
News release via Canada NewsWire, Toronto 416-863-9350
Attention Business Editors:
PreMD Successfully Completes Project for Health & Beauty Company
Provides Update on AMEX Appeal Hearing
TORONTO, June 20 /CNW/ - Predictive medicine company PreMD Inc. (TSX:
PMD; Amex: PME) today announced the successful completion of its agreement
with one the world's leading health and beauty companies. As a result of the
completion of this project, PreMD expects to enter into additional agreements
with the company for further product development and other skin testing
initiatives.
"We are very pleased to be working with a leading health and beauty
company to jointly develop new and highly promising applications in skin-based
tests," said Dr. Brent Norton, president and CEO of PreMD Inc.
Dr. Norton continued: "On June 4, PreMD announced it had appealed the
recent decision made by American Stock Exchange (the "AMEX") to delist its
stock. We have requested an oral hearing with the AMEX listing committee in
order to present our strategy and progress in achieving our objectives. At
this time we believe the hearing will not take place until late August or
September. While there is no guarantee that we will be successful in
maintaining our AMEX listing, we will continue to devote substantial efforts
to achieving this and building value in the company."
About PreMD Inc.
PreMD Inc. is a leader in predictive medicine, dedicated to developing
rapid, non-invasive tests for the early detection of life-threatening
diseases. PreMD's cardiovascular products include a line of non-invasive skin
cholesterol tests. PreMD's other skin cholesterol products include PREVU(x) LT,
a skin cholesterol test designed for use in the life insurance industry. The
Company's cancer tests include ColorectAlert(TM), LungAlert(TM) and a breast
cancer test. PreMD's head office is located in Toronto, Ontario and its
research and product development facility is at McMaster University in
Hamilton, Ontario. For more information about PreMD, please visit
www.premdinc.com.
This press release contains forward-looking statements. These statements
involve known and unknown risks and uncertainties, which could cause the
Company's actual results to differ materially from those in the
forward-looking statements. Such risks and uncertainties include, among
others, the successful development or marketing of the Company's products, the
competitiveness of the Company's products if successfully commercialized, the
lack of operating profit and availability of funds and resources to pursue R&D
projects, the successful and timely completion of clinical studies, product
liability, reliance on third-party manufacturers, the ability of the Company
to take advantage of business opportunities, uncertainties related to the
regulatory process, and general changes in economic conditions. In addition,
while the Company routinely obtains patents for its products and technology,
the protection offered by the Company's patents and patent applications may be
challenged, invalidated or circumvented by our competitors and there can be no
guarantee of our ability to obtain or maintain patent protection for our
products or product candidates.
Investors should consult the Company's quarterly and annual filings with
the Canadian and U.S. securities commissions for additional information on
risks and uncertainties relating to the forward-looking statements. Investors
are cautioned not to rely on these forward-looking statements. PreMD is
providing this information as of the date of this press release and does not
undertake any obligation to update any forward-looking statements contained in
this press release as a result of new information, future events or otherwise.
(x) Trademark
%SEDAR: 00007927E %CIK: 0001179083
/For further information: Ron Hosking, Vice-President, Finance, Tel:
(416) 222-3449, Email: rhosking(at)premdinc.com; Michelle Rabba, Manager,
Corporate Communications, Tel: (416) 222-3449 ext. 25, Email:
mrabba(at)premdinc.com/
(PMD. PME)
CO: PreMD Inc.
CNW 09:00e 20-JUN-08
