IRVINE, Calif., Jan. 12 /PRNewswire-FirstCall/ -- CalbaTech, Inc. (OTC Bulletin Board: CLBE), an emerging life sciences company (http://www.CalbaTech.com ) concentrating on banking adult stem cells for possible future therapeutic uses and providing products and platforms to the biotech and pharmaceutical research markets and to academic institutions, today said it supports the U.S. House of Representatives for approving a bill to increase the spending of Federal research dollars for stem cell research.
CalbaTech also cited recent research by Robin Young Consulting Group that predicts that sales of adult stem cell products will more than double in 2007, exceeding $35 million, and then explode to more than $175 million in sales by 2009. 'Big growth,' Mr. Young told United Press International, 'will excite capital markets and we should expect to see a fair amount of capital coming in to help support these companies.'
'We are confident we are in the right place at exactly the right time with our unique adult stem cell collection process,' said CalbaTech CEO James DeOlden. 'As the House of Representatives moves forward with its commitment to funding stem cell research, and with the predicted capital markets being invigorated by the expected explosive revenues for the adult stem cell sector, adult stem cell businesses, like the Stem Cell MicroBank(TM) Service of our wholly-owned subsidiary LifeStem(TM), will see a significant, direct benefit.'
Dr. Jason R. Van Tassel, M.D., Chief Medical Officer of LifeStem(TM) stressed that, 'The therapeutic possibilities that may be provided by collecting and preserving healthy adult stem cells on a pre-disease basis could revolutionize the practice of medicine.'
Investors and prospective clients interested in LifeStem's Stem Cell MicroBank(TM) Service should visit the web site (www.life-stem.com) for more information.
About CalbaTech
CalbaTech, Inc. (OTC Bulletin Board: CLBE) is 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. CalbaTech's wholly owned subsidiary LifeStem has developed a unique process to harvest stem cells in micro quantities to be cryopreserved for future transplantation into a client for medical purposes. The collection of stem cells from two different tissue sources increases the potential for treatment of more diseases.
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. We use words such as 'anticipate,' 'believe,' 'expect,' 'future,' 'intend,' 'plan,' and similar expressions to identify forward-looking statements. These statements including those related to being in a large and growing market, exhibiting rapid growth characteristics, and having a growth strategy, are forward looking statements. These forward looking statements are only predictions and are subject to certain risks, uncertainties and assumptions. Some of the risks, uncertainties and assumptions that could cause actual results to differ materially from estimates or assumptions in this press release include the risk that we will not be able to grow our revenues and market share, the risk that our prices do not remain competitive and the risk that we will not achieve profitability. Additional risks are identified and described in the Company's public filings with the Securities and Exchange Commission, including our most recent Report on Form 10-KSB, and Reports on Form 10-QSB and Form 8-K. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events, or circumstances after the date of such statement.
SOURCE CalbaTech, Inc.
Source: PR Newswire (January 12, 2007 - 5:00 AM EST)
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