health

Genesys Venture Inc. Congratulates DiaMedica Inc., Kane Biotech Inc. and Sanomune Inc.

October 10, 2008

Three companies started by Manitoba based management firm selected as top life sciences companies

Winnipeg, Manitoba – October 10, 2008 – Genesys Venture Inc. (GVI), a life sciences management services firm, is pleased to congratulate DiaMedica Inc. (TSXV:DMA), Kane Biotech Inc. (TSXV:KNE) and Sanomune Inc. on being selected as winners in Canada’s Top 10 Life Sciences Competition, organized by OCRI (Ottawa Centre for Research and Innovation) and presented by Borden Ladner Gervais LLP. Winners are selected by an independent expert panel of Canadian and U.S. venture capitalists.

“Successful companies require great science, skilled management and access to sufficient capital – without all three of these elements commercial potential for life science based technologies is rarely realized”, stated Dr. Albert D. Friesen, Founder and President of Genesys Venture Inc. “We congratulate the management and staff of DiaMedica, Kane Biotech and Sanomune and we look forward to continuing to support their efforts in advancing break-through technologies for improving human health.”

DiaMedica is a biotechnology company developing novel treatments for various stages of Type 2 diabetes with three clinical stage products. The Company’s lead product, DM-71, demonstrated the ability to reduce HbA1c (glucose) levels and weight in a Phase IIa human trial. DM-83 showed efficacy in reducing insulin levels in a Phase IIa meal tolerance test. DiaMedica’s third clinical stage product, DM-99, is in a Phase IIa trial expecting results in the second half of 2008. The Company was built upon the pioneering research into the root cause of Type 2 diabetes conducted by Dr. Wayne Lautt at the University of Manitoba. DiaMedica trades under the symbol “DMA” on the TSX Venture Exchange. This was the second year in a row that DiaMedica was selected to Canada’s Top Ten™.

Kane Biotech is a biotechnology company engaged in the development of products to prevent and remove biofilms. Biofilms are a major cause of a number of serious medical problems including chronic infections and medical device related infections. Biofilms are pervasive, costly to deal with and are involved in approximately 80% of all human bacterial infections. Kane Biotech is currently developing two lead technology platforms: DispersinB®, a novel antibiofilm enzyme that inhibits as well as disperses microbial biofilms, and PS/CHX, a broadspectrum antimicrobial/antibiofilm product. Kane Biotech was founded by GVI based on technology from the University of North Texas Health Sciences Centre, Fort Worth. The Company has subsequently built its pipeline through internal research and has added technologies from the University of Medicine and Dentistry of New Jersey and the University of Toronto. Kane Biotech trades on the TSX Venture Exchange under the symbol “KNE”.

Sanomune is a private biopharmaceutical start-up focused on neurological and autoimmune disorders and was spun-out from the University of Manitoba. Sanomune’s lead product, SAN-61, is targeting the treatment of Alzheimer’s disease and other neurological conditions with a naturally-occurring, orally available protein. The Company was recently selected for presentation as a Hot Topic at the International Conference on Alzheimer’s Disease (ICAD) 2008.

“Manitoba has a number of regional advantages including costs of doing business, an educated and dedicated work force and access to world-class science and research institutions. GVI is pleased to compliment the local advantages for life sciences firms”, added Dr. Friesen.

About Genesys Venture Inc.

Genesys Venture Inc. provides the expertise, experience and energy required to start-up and manage emerging health and biotechnology ventures. Founded by renowned bio-entrepreneur Dr. Albert Friesen, the GVI team has extensive experience in technology and business development to offer its clients.

The Company provides many services to client companies through an enhanced incubation model and active participation in management. GVI takes the idea of an incubator to the next level, becoming actively involved with each new venture and offering a tailored mix of services vital to successfully develop a technology to address market opportunities.

Successful commercialization of health technology requires quality innovation plus experienced management, market and technical expertise, and access to sufficient capital. These elements represent the gap between innovation and commercialization, without them the potential is never realized.

For more information, please contact:
L. Michael Coutts
Director, Business Development
Genesys Venture Inc.
Ph: 204-477-7597
Fax: 204-453-1546
mcoutts@genesysventure.com

www.genesysventure.com

Caution Regarding Forward-Looking Information

Certain statements contained in this press release constitute forward-looking information within the meaning of applicable Canadian provincial securities legislation (collectively, “forward-looking statements”). These forward-looking statements relate to, among other things, our objectives, goals, targets, strategies, intentions, plans, beliefs, estimates and outlook, including, without limitation, our anticipated future operating results, and can, in some cases, be identified by the use of words such as “believe,” “anticipate,” “expect,” “intend,” “plan," “will,” “may” and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements.

These statements reflect management’s current beliefs and are based on information currently available to management. Certain material factors or assumptions are applied in making forward-looking statements,and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from these expectations include, among other things:

Genesys Venture Inc. undertakes no obligation to update or revise any forward-looking statement. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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