SCOTTSDALE, Ariz., Jan. 24 /PRNewswire-FirstCall/ -- ITL Laboratories, L.L.C. ("ITL") announces that Dr. Chan Park, M.D., Ph.D. has accepted appointment as Chairman of the Scientific Advisory Board of ITL's umbilical cord stem cell oncology research initiative. Dr. Park, an internationally recognized oncologist and researcher, has conducted pioneering research into new cancer therapies. Dr. Park holds international patents and has published in prestigious medical journals including Cancer Research, Journal of the National Cancer Institute, Science Nature, Blood, Experimental Hematology, Cancer, British Journal of Cancer, American Journal of Clinical Nutrition, Experimental and Molecular Medicine, Investigational New Drugs and Annals of Oncology.
"We are honored to have Dr. Park join us," commented Neil Riordan, C.E.O. of ITL. "His expertise, innovations and insights into new oncological therapeutics will be an asset to our research of the potential effects of umbilical cord stem cells as oncology drug delivery agents."
Dr. Park was most recently the former Director of the Hematology/Oncology division of the Department of Internal Medicine at Samsung Medical Center in Seoul, Korea and Professor of Medicine at Sungkyunkwan University School of Medicine. Dr. Park was also Full Professor of Medicine at University of Kansas Medical Center. Dr. Park went on to be Professor and Chief of the Oncology-Hematology Division of the department of medicine at Texas Tech University Health Science Center. Dr. Park received his Master's degree and Medical degree from Seoul National University and his Ph.D. from the University of Toronto School of Graduate Studies.
EpiPharma, Inc. ("EpiPharma") (Pink Sheets: EPHM) announced on January 18, 2005 that it has entered into an agreement to purchase 25% of ITL, an entity engaged in the research, development and administration of adult stem cells, including human umbilical cord stem cells (USCs) for the treatment of neurological and degenerative diseases.
EpiPharma was formed on September 13th, 2001 as a subsidiary of Baywood International, Inc. ("Baywood") (OTCBB: BYWD) and began trading on the Pink Sheets on December 14, 2004. A letter of intent to acquire Aidan Products, L.L.C. ("Aidan") was originally signed by Baywood on May 19, 2004 and was renewed and transferred to EpiPharma on January 17, 2005. EpiPharma may immediately exercise its option to invest in ITL upon the close of the acquisition of Aidan. EpiPharma will remain as a majority-owned subsidiary of Baywood after the proposed transaction to acquire Aidan and the investment in ITL is completed.
EpiPharma, Inc. (Pink Sheets: EPHM) focuses on the development, production and acquisition of complex nutraceuticals and other novel technologies for therapeutic applications. EpiPharma's current objective is to sell these complex nutraceutical products through healthcare practitioners and to administer its novel technologies through other healthcare channels. Contact EpiPharma, Inc. at 1-800-519-2037 or for more information visit http://www.epipharma.com/.
Baywood International, Inc. (OTC BB: BYWD) is a nutraceutical company specializing in the development, marketing and distribution of its own proprietary brands under the names Baywood PURECHOICE(R), Baywood SOLUTIONS(R) and Complete La Femme(R). The Company's products are distributed through independent and chain health food stores, pharmacies, grocery stores, and other direct-to-consumer channels both internationally and domestically. Contact Baywood International, Inc. at 1-888-350-0799 or for more information visit http://www.bywd.com/.
This press release may contain forward-looking statements, made in reliance upon Section 21D of the Exchange Act of 1934, which involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. The Issuer's expectations among other things are dependent upon general economic conditions, continued demand for its products, the availability of raw materials, retention of its key management and operating personnel, as well as other uncontrollable or unknown factors which are more fully disclosed in Baywood's Form 10-KSB's and 10-QSB's on file with the United States Securities and Exchange Commission.
CONTACT: Neil Reithinger, President of Baywood International,+1-800-519-2037, email@example.com, for EpiPharma, Inc.; or Sandy Rossen ofI.R. International Consultants, Inc., +1-516-816-2563, firstname.lastname@example.org, forEpiPharma, Inc.