LOS ANGELES, June 16, 2004 (PRIMEZONE) -- Bio-Life Labs, Inc. (OTCBB:BLFE), a research-driven biotechnology company focused on discovery, development, manufacturing, and commercialization of breakthrough treatments for Cancer, Diabetes Mellitus, Hepatitis C and other serious illnesses, announced today that it is reviewing its product pipeline and has retained California intellectual property law firm Knobbe Martens Olsen & Bear to strengthen and expand the Company's intellectual property assets and provide regulatory compliance advice.
Bio Life Labs' first product candidate Carcinoderm(tm) is a topical agent that is intended to destroy skin cancer cells in patients diagnosed with Basal Cell Carcinoma, Squamous Cell Carcinoma, and Melanoma in a one-time application without harming surrounding healthy tissue. The Company is also advancing pre-clinical programs focused on expanding the application and delivery methods for Carcinoderm(tm) in order to target various solid tumor cancers, as well as treatments for Diabetes Mellitus and Hepatitis C.
"We are passionate about discovering and delivering breakthrough treatments to patients who are suffering from skin and other cancers, and other life-threatening illnesses," said Bio-Life's Chairman and Chief Executive Officer Nancy LeMay. "Retaining Knobbe Martens Olsen & Bear is an important part of an overall strategy designed to protect our research assets and enhance shareholder value."
The American Cancer Society estimates that during 2004, approximately 1 million new cases of Basal Cell or Squamous Cell Carcinoma and about 59,350 new cases of malignant Melanoma will be diagnosed. They also expect that skin cancer will claim the lives of approximately 9,800 Americans. The ACS adds that although death rates from Basal Cell and Squamous Cell Carcinomas are low, these cancers can cause considerable damage and disfigurement if they are untreated. Bio-Life Labs' Executive Vice-President and Chief Medical Officer David Karam, M.D., Ph.D. has formulated Carcinoderm(tm) over years of exhaustive research and development with these patients in mind.
About Bio-Life
Bio-Life, Labs, Inc. is a research-driven biotechnology company focused on discovery, development, manufacturing, and commercialization of breakthrough treatments for cancer, Diabetes Mellitus, and Hepatitis C. The Company's first product candidate, Carcinoderm(tm), is a topical treatment that in the estimation of Management destroys skin cancer cells in patients diagnosed with Basal Cell Carcinoma, Squamous Cell Carcinoma, and Melanoma in a one-time application without harming surrounding healthy tissue.
Bio-Life labs, Inc. cautions you that statements included in this press release that are not a description of historical facts are forward-looking statements. The inclusion of forward-looking statements should not be regarded as a representation by Bio-Life labs, Inc. that any of its plans will be achieved. Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in Bio-Life labs, Inc.'s business including, without limitation, statements about: difficulties or delays in research, development, testing, obtaining regulatory approval, producing and marketing its technologies and products; unexpected adverse side effects or inadequate therapeutic efficacy of its products that could delay or prevent product development or commercialization, or that could result in recalls or product liability claims; the scope and validity of patent protection for its products; its ability to meet product development objectives; competition from other pharmaceutical or biotechnology companies; its ability to obtain additional financing to support its operations; its ability to attract and retain experienced scientists and management; as well as other risks detailed in Bio-Life labs, Inc.'s Securities and Exchange Commission filings. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and Bio-Life labs, Inc. undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof.