Press Release - June 15, 2004

State Approves Genodix Funding Initiative

State regulators have announced their approval of Genodix Corporation's funding initiative. Expected to provide the capital required for important new research projects, the Genodix initiative required approval from the State of California. At least fifteen investors, many of whom remain silent partners, will be helping to funding Genodix's latest project. Regulators initially expressed concern about the nature of such anonymous payments. Controller Steve Westly helped shepherd Genodix through the approval process. Historically, such investor payments have been used to fund a variety of projects in California, New York, Washington, and Nevada.

"Fortunately for us," remarked Genodix financial officer Lowell Cooper, "we've got some experience with such unconventional revenue streams. Once we have the required approvals, we can immediately begin to offset some of our operating costs, which are substantial. Reasonable contributions are not unheard of for the sorts of projects we work on at Genodix."

Pioneering research work doesn't come cheap. At the forefront of genetic research, scientists require expensive, and very specialized equipment. "You just can't do innovative, cutting edge science without the right scientific infrastructure," says chief scientific officer Carl Pauling. "Money should never be your limiting reagent." Establishing a solid investment stream is a priority for all biotech companies. New companies often struggle to find funding. Thanks to the creative investment solutions organized by Genodix's financial staff, our pioneering genomic research has a bright future.