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CalbaTech Begins Development of New Subsidiary to Enable It to Bring Its Stem Cell Microbank(TM) Service to the United Kingdom 8:35a ET March 2, 2007 (Market Wire) CalbaTech, Inc. (OTCBB: CLBE), an emerging life sciences company (http://www.CalbaTech.com) concentrating on the collection and banking of 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 announced that it was creating a new subsidiary under CalbaTech to enable it to take its stem cell service to the United Kingdom and also to seek listing on the London Stock Exchange.
CalbaTech has excellent contacts into Scotland through one of its founders, a former researcher at Glasgow University, and has seen an opportunity to further develop its business by establishing a wholly owned subsidiary to sell its Stem Cell Microbank(TM) Service in the United Kingdom. CalbaTech expects that this new subsidiary will be managed entirely within the United Kingdom and will not distract from CalbaTech's United States focus. This new subsidiary will also seek to be listed on the London Stock Exchange, which will create opportunities for new capital for this subsidiary and CalbaTech, as well as create a significant asset on CalbaTech's Balance Sheet. CalbaTech is currently seeking counsel from entities knowledgeable about such a listing and will sign a consulting agreement at the time it selects an entity to provide such assistance. The Company has also consulted with an office of the British Consulate to help with this endeavor.
CalbaTech will license to its new subsidiary any and all intellectual property that is relative to stem cells that it currently owns along with any new intellectual property that it develops, with the geographic limitation being the United Kingdom, with an option for the continent of Europe, based upon performance.
The United Kingdom has shown its leadership in the leading edge of science through "Dolly" the sheep, as well as developing stem cell advances, and recently Sir Richard Branson of Virgin Atlantic has earmarked funds to create a national cord blood banking service in the United Kingdom.
About CalbaTech
CalbaTech, Inc. (OTCBB: 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.
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