CITY OF INDUSTRY, Calif., June 8, 2005 (PRIMEZONE) -- U.S. BioDefense, Inc. (OTCBB:UBDE) announces that its CEO, David Chin has received the prestigious "Governor's Veterans Employer of the Year Award" for dedication to U.S. Veterans from Arnold Schwarzenegger. The award was presented at the California Employer Advisory Council Conference Veterans Awards Luncheon.
Mr. Chin stated, "I am truly honored for the award and wish to thank my friends, family, and co-workers for their time and dedication to veterans. I also hope that my recognition by Arnold Schwarzenegger and the Center of Regenerative Medicine will help open doors for accelerating the U.S. BioDefense Stem Cell IPO and Center of Excellence Initiative here in California. Once funded, the $3 Billion Stem Cell Fund in California will go a long way to treating veterans with new therapies and creating new job opportunities for doctors, nurses, and scientists at veteran's hospitals and research clinics."
The Governor's Award recognizes employers who consistently demonstrate positive policies toward U.S. veterans in hiring and promotion, as well as through employee retention efforts, ongoing training, and benefits. Mr. Chin was honored with the award for his dedication to the retraining of U.S. veterans through his privately held vocational training center, originally established over 25 years ago. The vocational center is located in Los Angeles and partners with various U.S. veteran and community based organizations to assist veterans in achieving their employment goals.
Only two other companies were honored with the award including, Vinnell Corporation, a Northrop Grumman Company (NYSE:NOC), for its commitment to hiring veterans through its logistic service support contract with the U.S. Army, out of 514 employees of which 217 are veterans. The Home Depot Inc. (NYSE:HD) of Tustin, which currently employs 358 veterans, for its national media campaign to transitioning and retiring veterans, National Guard, reservists, and current military family members.
Eligibility for a Governor's Veterans Employer of the Year Award is limited to California employers who are in compliance with all national, state, and local laws, and who are in good standing with the State of California.
For more information, visit http://www.edd.ca.gov/eddvetnomin.htm.
U.S. BioDefense is a Department of Defense central contractor that researches, develops, and commercializes leading-edge biotechnology. U.S. BioDefense, Inc. is planning an IPO for its Stem Cell Research Institute of California subsidiary. The company is aggressively developing its intellectual property and product portfolio through signing current and negotiating ongoing commercial evaluation agreements and option to exclusively and/ or non exclusively license agreements. Below are five new U.S and Worldwide Patent and Patent Pending Stem Cell technology breakthroughs:
1) Generation of Human Neural Crest Stem Cell Line and Its
Utilization in Human Transplantation;
a) University of British Columbia; World Patent Number
WO 03/054202
(i) Used to treat and hopefully cure brain and spinal
cord injuries.
2) Method for Selective Engraftment of Drug-Resistant
Hematopoietic Stem Cells;
a) University of Minnesota; U.S. Patent Number 6,485,722
(i) Improves Cancer Therapy and selective engraftment
of transfused or transplanted tissues.
1. Method that transfers drug resistance genes into
normally drug sensitive cells.
(ii) Present method thus allows the administration of
higher dosage of chemotherapeutic agents to the host.
3) Liver Cell Progenitor and Use for Treatment of Liver Diseases;
a) Biomedica U of London; World Patent Number WO 03/006638
(i) Repopulation of the liver with healthy cells for
patients with liver disease
(ii) Allow the development of an "artificial liver."
4) Isolation and Characterization of a Human Oral Keratinocyte;
a) University of Michigan; Pending
(i) Major reconstructive surgery
(ii) Help with chronic conditions such as diabetes or
systemic illnesses like diabetes or hemophilia.
1. Infuse the piece of tissue with gene therapy
compounds
5) Use of Non-marrow Stem Cells for Cardiac Regeneration;
a) University of Texas MD Anderson Cancer Center;
Patent Pending
(i) Method for treating damaged myocardium
(ii) Circumventing the pain and anesthesia complications
associated with bone marrow procedures.
-- Allows individual to serve as his or her own source of donor cells
U.S. BioDefense is forming a Stem Cell Center of Excellence consisting of medical advisors to transfer, research, develop, fund, and commercialize technology in California and has submitted applications for several major grants provided by the United States Department of Defense's Chemical Biological Defense Agency and the National Institute of Health. Other companies in the same industry include StemCells Inc. (Nasdaq:STEM), Thermogenesis Corporation (Nasdaq:KOOL), ViaCell, and Aastrom Biosciences (Nasdaq:ASTM).
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 Company's financial performance and technology license option agreements which may expire. 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 Company'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 Company'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 Company 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.