CalbaTech, Inc.'s Subsidiary, LifeStem Inc., Wins Orange County Innovation Award For Science

IRVINE, Calif., Oct. 6 /PRNewswire-FirstCall/ -- CalbaTech, Inc. , 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, is pleased to announce that its wholly-owned subsidiary, LifeStem, Inc., has won the 2006 Innovation in Science award presented by Orange County Innovation (OCI).

Along with LifeStem, other 2006 OCI winners include: For Innovation in Technology, The Samueli Foundation; For Innovation in the Arts, The Segerstrom Family; and for Innovation in Technology, EON Reality, Inc.

OCI was formed by top business and community leaders to showcase Orange County, California, as a hotbed of innovation. One of the largest counties in the U.S., with a population of more than three million, it has the 27th largest economy in the world. The award celebrates innovation, which it describes as the ability to create, to invent and to respond to challenges in today’s business world with new ideas and strategies.

LifeStem recently introduced the LifeStem MicroBank(TM) Service, its service that allows healthy individuals the ability to collect their own adult stem cells from both peripheral blood and adipose tissue. The stem cells are then cryogenically stored for possible future therapeutic use.

“We are pleased that LifeStem has received this recognition and we’re anxious to move forward with LifeStem to show the importance of storing stem cells for future therapeutic use,” said James DeOlden, CalbaTech CEO. “We are signing agreements with new collection sites almost every week and are working through logistics related to marketing and training.”

Mr. DeOlden recently told Drug Discovery News, a publication serving those interested in the news and business of discovery science, that LifeStem anticipates more than 1,000 clients will take advantage of its service during its first year, with revenues topping $3.9 million. In a September 14th, 2006 article in the Orange County Register, Mr. DeOlden said that stem cells should be banked now, while a person is healthy. “You don’t want to be in a position where you have a disease, and there’s a therapy available, and you don’t have healthy cells.” The newspaper said the science of stem cells is creating a “21st-century gold rush” in California.

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. 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.

CalbaTech, Inc.

CONTACT: Paul Knopick of E&E Communications, +1-949-707-5365,pknopick@eandecommunications.com, for CalbaTech, Inc.

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