VANCOUVER, B.C., April 14, 2004 (PRIMEZONE) -- HepaLife Technologies, Inc. (OTCBB:HPLF) is pleased to announce that effective immediately the Company has been approved for dual listing on the Berlin Bremen Stock Exchange under the symbol HL1 (CUSIP number -- US42689P1049 and security code -- 500625).
This listing has been facilitated by one of the largest brokers in Germany, Berliner Freiverkehr (Aktien) AG, a leading market maker for the Unofficial Regulated Markets on the Berlin Bremen and Frankfurt Stock Exchanges.
"With rising global interest in emerging biotechnologies and life sciences, we are pleased to offer international investors the opportunity to economically participate in our Company's growth," commented HepaLife President, Mr. Arian Soheili. "Moreover, this listing positively increases our visibility throughout Europe, the second largest investor market in the world."
"We are pleased to represent HepaLife, a young growing biotech, and believe that this continues our effort to give European investors a wider scope of investment opportunities," stated Berliner Freiverkehr (Aktien) AG spokesperson Julia Hadicke.
The Berlin Bremen Stock Exchange reported rapid growth of 23% in 2003 and an increase in total turnover to approximately 60 billion Euros, positioning it as a leading regional exchange.
About Berliner Freiverkehr (Aktien) AG
Berliner Freiverkehr (Aktien) AG is one of the largest brokers and market makers in Germany, covering markets in Berlin, Frankfurt, Dusseldorf, Stuttgart and Munich. Since its inception Berliner Freiverkehr (Aktien) AG has dual listed over 7,000 non-domestic equities.
About HepaLife Technologies, Inc.
HepaLife Technologies, Inc. (OTCBB:HPLF), is a development stage biotechnology company focused on the research, development and eventual commercialization of technologies and products to treat various forms of liver dysfunction and disease.
Presently, through a Cooperative Research and Development Agreement, HepaLife Technologies is working towards optimizing the hepatic functionality of a patented cell line, whose hepatic characteristics have been demonstrated to have potential application in the production of an artificial liver device for use by human patients with liver failure.
With 25 million Americans suffering from liver disease, the need for an artificial liver device able to remove toxins and improve immediate and long-term survival results is more critical today than ever before.
Limited treatment options, a low number of donor organs, the high price of transplants and follow up costs, a growing base of hepatitis, alcohol abuse, drug overdoses and other factors that result in liver disease, all clearly indicate that a strong need exists for an artificial liver device, now and into the foreseeable future.
For additional information, please visit www.hepalife.com.
Legal Notice Regarding Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to adverse economic conditions, intense competition, lack of meaningful research results, entry of new competitors and products, adverse federal, state and local government regulation, inadequate capital, unexpected costs and operating deficits, increases in general and administrative costs, termination of contracts or agreements, technological obsolescence of the Company's products, technical problems with the Company's research and products, price increases for supplies and components, litigation and administrative proceedings involving the Company, the possible acquisition of new businesses or technologies that result in operating losses or that do not perform as anticipated, unanticipated losses, the possible fluctuation and volatility of the Company's operating results, financial condition and stock price, losses incurred in litigating and settling cases, dilution in the Company's ownership of its business, adverse publicity and news coverage, inability to carry out research, development and commercialization plans, loss or retirement of key executives and research scientists, changes in interest rates, inflationary factors, and other specific risks. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent Form 10-QSB and Form 10-KSB filings with the Securities and Exchange Commission.