IRVINE, Calif., Feb. 27 /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, said today that it believes that the announcement that the University of Southern California has received $25 million to construct a stem cell research facility at its medical school shows that Southern California will be the national leader for this cutting edge technology.
“We believe that this shows that LifeStem, Inc., our wholly owned subsidiary, which is in charge of our Stem Cell MicroBank(TM) Service for the collection of healthy adult stem cells for storage for potential future therapeutic use, is in the right place at the right time with the right product,” said James DeOlden, CalbaTech CEO.
Previously, a state funding initiative approved by California voters established a state institute for stem cell research. “I believe that Southern California is going to be the hub for research that could give us answers for the treatment of diabetes, cardiovascular diseases and numerous other diseases,” Mr. DeOlden said.
LifeStem recently announced an agreement with Solana MedSpas to offer its Stem Cell MicroBank(TM) Service to the spa customers and will be working to make the Stem Cell MicroBank(TM) Service the most available and acceptable two tissue adult stem cell banking service in the United States.
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(TM) service.
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.
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. Nothing in this release indicates any relationship whatsoever between CalbaTech, Inc., LifeStem, Inc., and the University of Southern California. Any belief or understanding based upon this release to the contrary is incorrect.
CalbaTech, Inc.
CONTACT: Paul Knopick of E&E Communications for CalbaTech, Inc.,+1-949-707-5365, pknopick@eandecommunications.com
Web site: http://www.CalbaTech.com/
