CITY OF INDUSTRY, Calif., July 26, 2005 (PRIMEZONE) -- U.S. BioDefense (OTCBB:UBDE) announced today that is has retained Dr. Cyndi Chen, 26, as the new director of Stem Cell research. Dr. Chen will immediately begin to spearhead the Stem Cell Center of Excellence strategic plan and to evaluate the six (6) month option to license "Generation of Human Neural Crest Stem Cell Line and Its Utilization in Human Transplantation" world patent application WO 03/054202 A1 and U.S. patient application 5,958,767 and related applications with the University of British Columbia developed by Dr. Seung Kim in the Department of Neurology at UBC. U.S. BioDefense joins Asstrom (Nasdaq:ASTM), Geron (Nasdaq:GERN), and Viacell (Nasdaq:VIAC) in the industry and alongside StemCells, Inc. (Nasdaq:STEM) is the only other public company to focus on pioneering Neural Crest Stem Cell technology in the United States. A webcast powerpoint presentation by Dr. Chen will provide a layperson's guide to the breakthrough stem cell technology in the near future.
Dr. Cyndi Chen received her Ph.D from the City of Hope Graduate School of Biological Sciences at the Beckman Research Institute for original research on The Regulations of Autoimmune Diabetes. Dr. Chen's vast experience in the area of research include projects that involve the characterizing and isolating antigen-specific T cells that are associated with Type 1 diabetes. In studying possible mechanisms involved in these T cell functions, Dr. Chen discovered a strong interest in utilizing these mechanisms as a way to delay and inhibit diabetes development in mice.
In 1983, the Beckman Research Institute of City of Hope was established with generous support from the Arnold and Mabel Beckman Foundation. The Institute is comprised of basic science research groups within the divisions of Biology, Immunology, Molecular Medicine and Neurosciences, as well as several smaller departments. More than 300 physicians and scientists collaborate to discover, develop and implement innovative strategies for the prevention and treatment of cancer and other catastrophic diseases.
"I am excited be to part of this emerging company and look forward to being the driving force behind U.S. BioDefense efforts to be at the forefront of Stem Cell research and commercialization," said Dr. Chen.
"We are excited to have Dr. Chen join our accomplished team of researchers. Her strong laboratory background and take charge personality makes her the best candidate to lead our team," said David Chin, CEO. "We are confident that with her hands on approach to management makes her the correct candidate to move our company forward."
About U.S. BioDefense, Inc.
U.S. BioDefense is a Department of Defense central contractor that researches, develops, and commercializes leading-edge biotechnology. U.S. BioDefense, Inc. is focused on transferring, researching, and commercializing groundbreaking technology from Universities, Research Labs, Fortune 500 Companies, and Government Agencies. U.S. BioDefense has formed a subsidiary, Stem Cell Research Institute, Inc. to explore the commercialization of the Stem Cell technology.
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 based on its Stem Cell technologies.
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.