CITY OF INDUSTRY, Calif., Feb. 4, 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 will be building awareness of its California Stem Cell Technology Transfer Initiative next week on CNBC Television.
David Chin, CEO, stated "We are aggressively seeking and hereby invite inquiries from new collaborative industry partners including stem cell biologists, researchers and clinicians with disease-specific expertise, physicians and surgeons skilled in novel modes of cell delivery, and investigators experienced in developing and assessing animal models of human diseases to create a new research team in California."
U.S. BioDefense is aggressively pursuing its Stem Cell Technology Transfer Initiative by licensing stem cell separation and insertion technology, filing a SBIR Grant proposal with the Department of Defense Chemical Biological Defense Agency for Stem Cell Technology and Autologous Bioengineered Skin, and by preparing to deploy an open source stem cell research and development collaboration platform to facilitate relationships among researchers, physicians, industry experts, and advisors.
About U.S. BioDefense
U.S. BioDefense is a Department of Defense central contractor that researches, develops, and commercializes leading-edge biotechnology. U.S. BioDefense recently announced a new stem cell separation and insertion technology license agreement with a major University. It has filed its 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 National Institutes of Health Biodefense budget for Fiscal Year 2005 is over $1.7 Billion. 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. These inactivated agents can be used as vaccines against the diseases caused by such viruses, parasites and tumor cells. Hence, the immunogenic of the agent as a whole is maintained and can be safely used for vaccination without the threat of infection. U.S. BioDefense, Inc. intends to conduct laboratory experiments under this Agreement to evaluate the suitability for commercial development. Furthermore, U.S. BioDefense, Inc. has agreed to provide the facilities, personnel, and expertise to evaluate the commercial applications. The company has published its white paper on Stem Cell technology transfer analyzing California University and industry participants intellectual property resources including ViaCell (Nasdaq:VIAC), Geron (Nasdaq:GERN), Aastrom Biosciences (Nasdaq:ASTM), and StemCells, Inc. (Nasdaq:STEM).
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.