HepaLife Technologies Inc. Announces Successful Acquisition of AquaMed Technologies, Inc.

Published: May 18, 2010

NEW YORK, May 17, 2010 (GLOBE NEWSWIRE) -- On May 11, 2010, HepaLife Technologies, Inc. (OTCBB:HPLF) (Frankfurt:HL1) (WKN:500625), a Florida corporation ("HepaLife"), consummated a merger (the "Merger") whereby HepaLife acquired all of the issued and outstanding common and preferred shares of AquaMed Technologies, Inc., a privately held Delaware corporation ("AquaMed") in exchange for 84.8 million shares of HPLF common stock. As a result of the Merger, AquaMed became a wholly-owned subsidiary of HepaLife.

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