CITY OF INDUSTRY, Calif., Feb. 3, 2005 (PRIMEZONE) -- U.S. BioDefense, Inc. (OTCBB:UBDE), a Department of Defense central contractor that researches, develops, and commercializes leading-edge biotechnology, is pleased to announce today that it has begun trading under the new stock symbol UBDE (formerly OTCBB:UBDF) after effectuating its three for one forward stock split.
U.S. BioDefense recently announced a new stem cell separation and insertion technology license agreement with a major University. It has recently filed Small Business Innovation Research (SBIR) Grant proposal Number C051-117-0060 with the Department of Defense Chemical Biological Defense Agency in response to SBIR (dodsbir.net) Topic number CBD05-117 'Stem Cell Technology and Autologous Bioengineered Skin for the Treatment of Cutaneous Vesicant Injury'. The company published its white paper Tuesday on Stem Cell technology transfer analyzing California University and industry participants intellectual property resources including ViaCell (NasdaqNM:VIAC), Geron (NasdaqNM:GERN), Aastrom Biosciences (NasdaqSC:ASTM), and StemCells, Inc. (NasdaqSC:STEM).
U.S. BioDefense, Inc. recently entered into a Commercial Evaluation License Agreement with the National Institutes of Health (NIH). The biotechnology is related to a method for universal inactivation of viruses, parasites and tumor cells. The National Institutes of Health Biodefense budget for Fiscal Year 2005 is over $1.7 Billion.
Safe Harbor Statement - Forward-Looking Statements
Included in this release are certain "forward-looking" statements, involving risks and uncertainties, which are covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the U.S. BioDefense's financial performance. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, the success of enhancements to the U.S. BioDefense's brand image, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending, including uncertainties relating to global political conditions, such as terrorism. Information with respect to important factors that should be considered is contained in the U.S. BioDefense's Annual Report on Form 10-K as filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The U.S. BioDefense does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.