IRVINE, Calif., May 9 /PRNewswire-FirstCall/ -- CalbaTech, Inc. , an emerging life sciences company (http://www.CalbaTech.com) concentrating on the collection and banking of adult stem cells for future therapeutic uses and providing products and platforms to biotech, pharmaceutical and academic institutions, today announced that it has contracted with Hunter Wise Financial Group, LLC, Irvine, California, to seek a listing for a new subsidiary of CalbaTech on the PLUS Exchange in London and to bring its stem cell service to the United Kingdom.
"CalbaTech is seeking to establish a new subsidiary to sell its Stem Cell Microbank(TM) Service into the United Kingdom," said James DeOlden, CEO. CalbaTech has sought out the expertise of Hunter Wise, which has vast experience in this sector, and has contracted with them to raise capital for the subsidiary and seek a subsequent listing for this new subsidiary. CalbaTech will license to its new subsidiary any and all intellectual property that is relative to its stem cell service, with the geographic limitation being the United Kingdom, with an option for the continent of Europe, based upon future performance.
CalbaTech expects that this new subsidiary will be, after funding of working capital and subsequently being listed on the PLUS Exchange, more than seventy-percent owned by CalbaTech and its shareholders. Management may, in the future, distribute a pro-rated portion of the subsidiary's shares to shareholders of record, but has no intention of doing so at this time. Management sees this opportunity as a significant step forward in CalbaTech's overall business plan. Management has worked diligently to achieve the opportunity to have a subsidiary in the UK which is entirely funded from capital raised through the PLUS listing and do so with minimal dilution to the parent company.
"This subsidiary will be funded entirely from funds made available through the new listing. We could not have found a more economically feasible way to accomplish this important endeavor," Mr. DeOlden said.
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.
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.
Contact: Paul Knopick E & E Communications (949) 707-5365 pknopick@eandecommunications.com
CalbaTech, Inc.CONTACT: Paul Knopick of E & E Communications, +1-949-707-5365,pknopick@eandecommunications.com, for CalbaTech, Inc.
Web site: http://www.CalbaTech.com/
