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CalbaTech LifeStem Subsidiary Files for Key Patent for Its Stem Cell Delivery Device
Tuesday , June 14, 2005 05:44 ET
IRVINE, Calif., June 14, 2005 /PRNewswire-FirstCall via COMTEX/ --CalbaTech, Inc. (OTC Bulletin Board: CLBE), an emerging life sciences company (http://www.CalbaTech.com) concentrating on providing products and platforms to the research market for biotech and pharmaceutical companies and to academic institutions, announced today that its wholly owned subsidiary, LifeStem, Inc., has filed a U.S. Patent Application for its Stem Cell Delivery Device. The patent is for the Device and Methods for Treatment of Necrotic Tissue using Stem Cells.
The Stem Cell Delivery Device, for which the utility patent was filed, is a system for the regeneration of cardiac muscle post myocardial infarction. This apparatus is designed for the targeted delivery of peripheral blood-derived autologous adult stem cells to diseased tissue for the purpose of regenerating healthy functional tissue. The Company believes that adult stem cells have tremendous potential to promote the regeneration of dead or diseased cardiac tissue.
"We are pleased that research continues to show that adult stem cells provide significant promise for restorative therapies," said LifeStem President Dan Fulkerson. "LifeStem is committed to its plan to continue to work with adult stem cells and to further develop our delivery of stem cells into diseased heart tissue through our proprietary system," said Mr. Fulkerson. "The Company continues to move forward expeditiously in the stem cell arena, which holds the promise of conquering some of mankind's most dreaded diseases."
Current scientific data supports the contention that stem cells hold huge promise for the treatment, cure and possible prevention of numerous diseases including heart disease and Parkinson's Disease, as well as spinal cord injuries. Recent data has indicated that if adult autologous (one's own) stem cells are reintroduced to the donor, it could provide advantages similar to embryonic stem cells without the risk of rejection.
About LifeStem Inc.
LifeStem, a wholly owned subsidiary of CalbaTech, is positioning itself to become a leading supplier of "Cellular Logistics". The Company's focus is to provide services and technologies to facilitate the efficient acquisition and delivery of purified adult stem cells, development of stem cell delivery devices for clinical applications and clinical applications of specific stem cell based therapies.
About CalbaTech
CalbaTech is focused on developing and providing products and platforms to the research market, both for biotech and pharmaceutical companies, as well as academic institutions. It is concentrating on acquiring, incubating and developing early stage life science based companies that are developing next generation products and technologies, both in the United States and in the United Kingdom. In addition to growth through acquisition, CalbaTech, comprised of three divisions, Molecular Applications, Research Reagents, and Cellular Therapeutics, is building an experienced and innovative scientific staff, including several notable members of its Scientific Advisory Board that intend to contribute breakthrough innovation in areas of biological discovery.
Contact: Paul Knopick (949) 707-5365 pknopick@eandecommunications.com
Note: Certain statements in this news release may contain "forward looking" information within the meaning of rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, may include forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements.
SOURCE CalbaTech
Paul Knopick, +1-949-707-5365, pknopick@eandecommunications.com, for CalbaTech
posted
This one only needs volume. Chart so ready to pop. With adult stem cell research being the next big thing in bio-tech...this co. is setup to move big.
CalbaTech Announces Significant Six-Month Revenue Increase, Details the Company's Expectations for LifeStem Inc., Its Adult Stem Cell Subsidiary Friday August 12, 5:00 am ET
IRVINE, Calif., Aug. 12 /PRNewswire-FirstCall/ -- CalbaTech, Inc. (OTC Bulletin Board: CLBE - News), an emerging life sciences company (http://www.CalbaTech.com) concentrating on providing products and platforms to the biotech and pharmaceutical research market and to academic institutions, today announced revenues for the six months ended June 30, 2005 totaled $625,345, up from $58,217 for the same period in 2004.
Revenues for the second quarter totaled $310,525, compared to revenues of $40,941 for the same period in 2004. CalbaTech announced a loss of ($454,087) or ($0.01) per share for the second quarter compared to a loss of ($379,656) or ($0.02) per share in 2004.
"We are pleased that our total operational expenses remained static at $1 million in 2005, the same amount as the previous year, despite significant increased activity," said James DeOlden, CalbaTech Chairman and CEO. "We are confident that Molecula (http://www.molecula.com) and K-D Medical (http://www.kdmedical.com) will continue to complement each other and that our cross marketing plans will allow these two subsidiaries to generate $1.5 million in revenues in the current fiscal year."
The 10-QSB filing goes into detail on the Company's expectations for LifeStem Inc., its subsidiary that is focusing exclusively on the emerging adult stem cell market. The market for stem cell technology is currently $500 million, and has been estimated to grow to $30 billion by the year 2010 due to the growth of new cellular therapeutics as well as clinical applications. LifeStem's strategy is to leverage CalbaTech's infrastructure of companies to obtain a leadership position in the emerging stem cells arena and become a preferred provider of adult stem cells to the clinical researcher as part of a comprehensive package of stem cell based services.
LifeStem is positioning itself to become a leading supplier of "Cellular Logistics" in this large new market. The Company is focused on providing a stem cell banking service to affluent individuals; providing services and technologies to facilitate the efficient acquisition and delivery of purified adult stem cells to the research market; developing delivery devices for clinical applications, and developing clinical applications of specific stem cell based therapies.
About CalbaTech
CalbaTech is focused on developing and providing products and platforms to the research market, both for biotech and pharmaceutical companies, as well as academic institutions. In addition to growth through acquisition, CalbaTech, comprised of three divisions, Molecular Applications, Research Reagents, and Cellular Therapeutics, is building an experienced and innovative scientific staff, including several notable members of its Scientific Advisory Board, that intend to contribute innovation in areas of biological discovery.
Contact: Paul Knopick E&E Communications (949) 707-5365 pknopick@eandecommunications.com
Note: Certain statements in this news release may contain "forward looking" information within the meaning of rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, may include forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements.
-------------------------------------------------------------------------------- Source: CalbaTech, Inc.
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