PEMBROKE PINES, Fla., May 16, 2005 (PRIMEZONE) -- Excelsior Biotechnologies, Inc. (Pink Sheets:EXBG), a biotech development company, announced that it has begun trading under the ticker symbol EXBG. Information on the Company can be found at http://www.ExcelsiorBio.com.
"We are excited with this new development," remarked Excelsior Vice President Dean Ward. "We are exploring some very interesting investment and development opportunities that we feel hold considerable promise and expects to have additional announcements in the near future."
Biotechnology is a $30 billion a year industry that has produced some 160 drugs and vaccines. Biotechnology is responsible for hundreds of medical diagnostic tests that keep the blood supply safe from the AIDS virus and detect other conditions early enough to be successfully treated. Market capitalization, the total value of publicly traded biotech companies (U.S.) at market prices, was $311 billion as of mid-March 2004.
The Company
Excelsior Biotechnologies, Inc. is a biotech development company, publicly traded under the ticker symbol EXBG. Excelsior is pursuing synergistic, value-added opportunities in the biotech field with the potential for achieving high-growth returns for our investors. Excelsior was formerly known as Chaichem Holdings, Inc. pursuing various biotechnology opportunities, developments and investments and is not affiliated with Chaichem Pharmaceuticals International Inc., Chaichem Inc. or Chaiquest Inc., or any of its other companies or affiliates.
This news release contains forward-looking statements regarding Excelsior 's business strategies and future plans of operations. Forward-looking statements involve known and unknown risk and uncertainties. The company's risks and uncertainties include: intense price competition, economic, political and regulatory uncertainties, the need to raise additional capital for growth and expansion and its reliance on the Internet as a means for promoting the software it sublicenses. The forward-looking statements contained in this news release speak only as of the date hereof and Excelsior disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in Excelsior's expectations or future events.