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ChromoCure, Inc.: ChromoCure, Inc. Announces Technology and Intellectual Property Assets Acquisition Adding $1,500,000 to Asset

^{Published on 2009-09-03 09:07:52 - Market Wire}
 

RENO, NV--(Marketwire - September 3, 2009) - ChromoCure, Inc. (PINKSHEETS: [ KKUR ]) announced today it executed a Technology Purchase and Transfer Agreement for $1,500,000, payable in Preferred Stock, wherein the Company receives full title and transfer of all rights, trademarks, intellectual property, protocols, patent disclosures, chromosomal scanner equipment, all proprietary analysis algorithms, mathematical analysis procedures, prior testing data with cancer clinics, cell preparation procedures, and all new hardware designs currently in development related to cancer detection and chromosomal scanning, enumeration, and analysis.

The transaction structure was specifically designed to avoid incurring long-term liabilities in the form of shareholder equity-reducing debt. Instead, the acquisition adds assets and equity and builds shareholder equity.

As previously disclosed, the transition of the company to its new business plan and operations is an essential component of the company's 2009 plan for operations. The Company executed this portion of it plan of operations as previously planned to be immediately subsequent to completion of financial disclosures and filings.

The company recently completed its disclosures and financials as part of this transition plan and succeeded in the removal of the "Caveat Emptor" status associated with the company's prior operations.

The remainder of the Company's plan of operations for 2009 will continue to be executed and investors updated accordingly.

Updates will be timely published on the following:

 -- Announcement of joint research and development agreement. -- Initial scanner installations with diagnostic labs. -- Elimination of significant long-term liabilities and removal from the Balance Sheet. -- Additional appointments to the Company's Advisory Boards. -- Acquisition of profitable labs to expand the company's operations. -- Release of technology and industry White Papers. 

About ChromoCure

ChromoCure develops and provides proprietary cancer detection systems. The Company owns its technology and provides its systems on a revenue sharing basis. The Company's systems measure the unique genomic characteristic found in 100% of all cancers and never found in normal cells. The Company believes its technology has an effective accuracy of 100% for all cancers at all stages. The Company believes its technology superior and will become the gold standard for cancer detection worldwide.

The Company's technology and understanding of cancer also suggest non-toxic and non-invasive approaches to cancer therapy and cure research. The Company will release progress reports on these initiatives from time to time.

Safe-Harbor Statement

This release contains statements or projections regarding future performance that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. The company's filings contain various RISK FACTORS (and are incorporated herein by reference) and should be read before any investment decision.