LAGUNA HILLS, Calif., Oct. 4 /PRNewswire-FirstCall/-- CalbaTech, Inc. (OTC Bulletin Board: CLBE), an emerging life sciences company (http://www.CalbaTech.com) concentrating on the collection and banking of adult stem cells for possible future therapeutic uses and providing products and platforms to the biotech and pharmaceutical research markets and to academic institutions, today announced a corporate update.
LifeStem(TM), Inc., a CalbaTech wholly-owned subsidiary that has developed a unique process to harvest adult stem cells in micro quantities to be cryopreserved for future transplantation into the same client for medical purposes, will be in Atlanta, Georgia this week to train employees of a medspa that will begin selling the Stem Cell Microbank(TM) Service in its Atlanta location. Pre-marketing of the service in the "Atlanta Life" magazine has, according to the owner of the spa, resulted in significant interest by potential clients. LifeStem(TM) will be training the staff in both selling and harvesting techniques.
TherapyStem, Inc., a wholly-owned subsidiary of CalbaTech, signed an MOU with Australian-based Benitec Limited, in which TherapyStem will develop a business providing stem cell storage services for U.S. HIV patients who may use the blood-based stem cells in a possible therapy. Benitec has collaborated with City of Hope, Duarte, California, a biomedical research and treatment center, in the development of a possible HIV therapeutic. This investigational HIV therapeutic creates the possibility that re-engineered blood-based stem cells may be able to take the place of anti-retroviral medication. TherapyStem, Inc. has filed for patent protection for its process to harvest stem cells from HIV infected individuals to be cryopreserved for future transplantation.
MyStem, Inc., a developing wholly-owned subsidiary of CalbaTech, is working to build a platform in which it will sell LifeStem's Stem Cell Microbank(TM) Service into the United Kingdom. One of CalbaTech's founders is working in London developing the licensure and contacts necessary to bring this new subsidiary to market. CalbaTech has also contracted with a group experienced in foreign stock exchange listings to help in listing MyStem on PLUS, a division of the London Stock Exchange.
CalbaTech is in discussions with two medical doctors from Harvard that own a patent that could create another potential cell collection business that would add value to CalbaTech's other services. CalbaTech has submitted a proposal for an exclusive license to this technology. No further information is being provided at this time due to the sensitive nature of the discussions, but CalbaTech will update its shareholders when appropriate.
KD Medical, Inc., http://www.kdmedical.com and Molecula, Inc., http://www.molecula.com, two other wholly-owned subsidiaries of CalbaTech, have overcome the hurdles related to moving their offices last year and have been able to focus on finding new customers for their products.
Both CalbaTech and LifeStem have new offices. CalbaTech is now located at 23341 Del Lago Drive, Laguna Hills, CA, and LifeStem is now in Anaheim, CA. The phone numbers for both companies remain the same, (949) 450-9910 for CalbaTech and (949) 450-9938 for LifeStem. LifeStem's website remains http://www.life-stem.com.
Lastly, CalbaTech is working on creating a new and updated website. It will retain the same address: http://www.calbatech.com. The Company expects to have this website available to shareholders and potential investors in the very near future.
CalbaTech, Inc. (OTC Bulletin Board: CLBE) is an emerging life sciences company (http://www.CalbaTech.com) concentrating on providing products and platforms to the research market for biotech and pharmaceutical companies and to academic institutions, as well as providing services in the collection, processing and storage of adult stem cells.
Note: Certain statements in this news release may contain "forward-looking" information within the meaning of rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Act of 1934 and are subject to the safe harbor created by those rules. We use words such as "anticipate," "believe," "expect," "future," "intend," "plan," and similar expressions to identify forward-looking statements. These statements including those related to being in a large and growing market, exhibiting rapid growth characteristics, and having a growth strategy, are forward looking statements. These forward-looking statements are only predictions and are subject to certain risks, uncertainties and assumptions. Some of the risks, uncertainties and assumptions that could cause actual results to differ materially from estimates or assumptions in this press release include the risk that we will not be able to grow our revenues and market share, the risk that our prices do not remain competitive and the risk that we will not achieve profitability. Additional risks are identified and described in the Company's public filings with the Securities and Exchange Commission, including our most recent Report on Form 10-KSB, and Reports on Form 10-QSB and Form 8-K. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events, or circumstances after the date of such statement.
E & E Communications
|SOURCE CalbaTech, Inc.|
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