BOTHELL, Wash., Feb. 11 /PRNewswire-FirstCall/ -- In response to the recent comments by certain plaintiff law firms regarding their filing of class action lawsuits, CellCyte Genetics Corporation (the "Company") (OTC Bulletin Board: CCYG) asserts that the pending claims are without merit and will be shown to be so in a court of law. To that end, CellCyte has retained the international law firm of Duane Morris LLP as its counsel and will defend itself vigorously in these matters. Concurrently, the Company will continue its commitment to and pursuit of its policy of ensuring that its operations comply with all applicable laws.
"CellCyte is founded on patented technology discovered by and licensed from the US Department of Veteran Affairs. We continue a solid and aggressive development plan for this important technology for the delivery of adult stem cells to the human heart," said Gary A. Reys, Chairman and CEO of CellCyte. "Our highly skilled management and scientific team are committed to developing our technologies to their fullest potential and we continue to be actively involved in collaborations with the Cleveland Clinic and other research leaders".
"Further," Reys said, "CellCyte is actively moving its intellectual properties through the US patent and Trademark office to insure that our technologies are well protected, which is one of the cornerstones of any biotechnology company which helps insure our shareholders a solid and protected technology base. Our most recent patent was issued in November 2007 that covers CellCyte's lead composition. This most recent patent milestone gives CellCyte three fully issued patents."
CellCyte Genetics continues to be actively engaged in carrying out its business plan and corporate objectives as stated in the company's literature and filings. This fact is further evidenced by such major advances as its move to the Company's new 26,000 foot facility and corporate offices in Bothell Washington and its continued business development efforts headed by Tony Colasin, who was previously Senior Director of Business Development at ICOS, which was recently acquired by Lilly.
About CellCyte Genetics
CellCyte Genetics, a Washington State company, is an emerging
biotechnology company engaged in the principal business of the discovery,
development and commercialization of breakthrough stem cell enabling
therapeutic products for use in regenerative medicine. The Company also has
a medical device division being developed to grow and expand a variety of
cells including Islet cells for diabetes and eventually proteins.
For further information see: http://www.cellcyte.com.
Symbol: OTCBB - CCYG; Frankfurt/Berlin Symbol - LK6 WKN. No.: A0MLCV.
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THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY'S PERIODIC REPORTS FILED FROM TIME-TO- TIME WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION. THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKE FULL RESPONSIBILITY FOR ITS CONTENTS. EACH OF THE NASD, THE SEC AND THE OTCBB NEITHER APPROVES NOR DISAPPROVES OF THE CONTENTS OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
|SOURCE CellCyte Genetics Corporation|
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