MISSISSAUGA, ONTARIO--(Marketwire - November 20, 2007) - Covalon Technologies Ltd. (the “Corporation” or “Covalon”) (TSX VENTURE: COV) is pleased to announce that it has successfully achieved an important milestone with its EPAS1 technology that is expected to allow Covalon to engineer mesenchymal stem cells (MSCs) for increased expression of EPAS1, a hypoxia inducible factor. EPAS1 is a “master” gene that is a regulator of the expression of vascular endothelial growth factor and several other important angiogenic proteins crucial to new blood vessel growth required to deliver blood, oxygen and nutrients to regenerative tissues by cell transplantation.