IRVINE, Calif., Nov. 17 /PRNewswire-FirstCall/ -- CalbaTech, Inc. , 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 signed a Letter of Intent (LOI) with Solana MedSpas, http://www.solanamedspas.com, the nation’s foremost developer and syndicator of medical spas, to offer LifeStem’s unique Stem Cell MicroBank Service through the Solana MedSpa network.
LifeStem President, Dan Fulkerson states, “As we reviewed our business plan, we realized that selecting the right distribution channel was an essential element to its overall success. Our model for collecting and storing adult stem cells through our Stem Cell MicroBank Service is a perfect fit with the medspa market. The demographic that we’re targeting is almost identical to the Solana MedSpa’s client base and by joining forces, we will have access to the nation’s largest distribution channel into the rapidly growing medspa market. We envision our relationship with Solana MedSpas generating substantial results for both companies,” Fulkerson notes.
Solana CEO and co-founder John Buckingham adds, “As the medspa industry leader, part of our overall strategy is to continually evaluate new technologies and services that will deliver the best results for our clients. Adding LifeStem’s Stem Cell MicroBank Service to our locations not only positions Solana MedSpas as unique vis-a-vis the competition, but it represents the next logical step with regard to our vision and mission.” Solana MedSpas has opened medspas throughout the United States and plans to have 70 in operation by the end of 2006.
“We view this as a significant step for LifeStem,” says James DeOlden, CEO of LifeStem’s parent company CalbaTech. “We are extremely pleased to be working toward a definitive relationship with Solana MedSpas and their network of medspa owners,” DeOlden remarks.
Terms of the LOI were not released. Both companies seek to have a definitive agreement in place by November 30, 2005.
About CalbaTech
CalbaTech, Inc. 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.
About LifeStem
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 adult stem cells, development of stem cell delivery devices for clinical applications and clinical applications of specific stem cell based therapies. LifeStem, in addition to being the first company to offer micro collection of stem cells, is also the first company to offer a collection service that collects and stores two different types of stem cells. The Company has filed patent applications for an endoscopic stem cell delivery device and its novel Stem Cell MicroBank Service.
About Solana MedSpas
Founded in July 2003, Solana MedSpas is the nation’s innovative leader in the development and syndication of medical spas. Solana MedSpas has created a new market segment by combining aesthetic healthcare with the spa movement, coming from the medical and educational side rather than the spa side. Solana MedSpas makes its proprietary content simultaneously available to its growing distribution network of uniquely branded medical spa facilities all over North America. Solana MedSpas provides the industry’s only model for legally compliant, competitive, and forward-thinking business in all 50 states.
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.
CalbaTech, Inc.
CONTACT: Paul Knopick of E&E Communications, +1-949-707-5365,pknopick@eandecommunications.com, for CalbaTech, Inc.
