CITY OF INDUSTRY, Calif., Feb. 2, 2005 (PRIMEZONE) -- U.S. BioDefense, Inc. (OTCBB:UBDF) is pleased to announce today that it has been informed by the NASD that its three for one forward stock split will be effective tomorrow February 3rd. The forward split will occur in conjunction with the opening of trading under the new symbol UBDE.
CEO David Chin stated, "We are very happy that our stock split will be effective tomorrow presenting a broader segment of the market with an attractive share price in light of all the recent positive news emerging from the company. The company has received a new CUSIP number and stock symbol and we are now urging shareholders to contact their brokers to assist our transfer agent in ensuring the timely surrender of old certificates for new post split shares."
U.S. BioDefense recently published its White Paper, available at usbiodefense.com, entitled "COLLABORATIVE STEM CELL TECHNOLOGY COMMERCIALIZATION OPPORTUNITIES IN CALIFORNIA". The white paper is focused on exploring the potential of collaborative technology transfer and commercialization of stem cell research in California thereby bridging Universities, Government Agencies, Fortune 500 companies and Research Labs located in foreign States and Countries. The white paper discusses the $3 Billion California Stem Cell Research and Cures Initiative, which finances embryonic as well as adult stem cell research with the State.
About U.S. BioDefense
U.S. BioDefense is a Department of Defense central contractor that researches, develops, and commercializes leading-edge biotechnology. U.S. BioDefense recently announced a new stem cell separation and insertion technology license agreement with a major University. It has filed its Small Business Innovation Research (SBIR) Grant proposal Number C051-117-0060 with the Department of Defense Chemical Biological Defense Agency in response to SBIR (dodsbir.net) Topic number CBD05-117 'Stem Cell Technology and Autologous Bioengineered Skin for the Treatment of Cutaneous Vesicant Injury'. The National Institutes of Health Biodefense budget for Fiscal Year 2005 is over $1.7 Billion. U.S. BioDefense, Inc. recently entered into a Commercial Evaluation License Agreement with the National Institutes of Health (NIH). The biotechnology is related to a method for universal inactivation of viruses, parasites and tumor cells. These inactivated agents can be used as vaccines against the diseases caused by such viruses, parasites and tumor cells. Hence, the immunogenic of the agent as a whole is maintained and can be safely used for vaccination without the threat of infection. U.S. BioDefense, Inc. intends to conduct laboratory experiments under this Agreement to evaluate the suitability for commercial development. Furthermore, U.S. BioDefense, Inc. has agreed to provide the facilities, personnel, and expertise to evaluate the commercial applications. The company has published its white paper on Stem Cell technology transfer analyzing California University and industry participants intellectual property resources including ViaCell (Nasdaq:VIAC), Geron (Nasdaq:GERN), Aastrom Biosciences (Nasdaq:ASTM), and StemCells, Inc. (Nasdaq:STEM).
Safe Harbor Statement Forward-Looking Statements
Included in this release are certain "forward-looking" statements, involving risks and uncertainties, which are covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the U.S. BioDefense's financial performance. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, the success of enhancements to the U.S. BioDefense's brand image, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending, including uncertainties relating to global political conditions, such as terrorism. Information with respect to important factors that should be considered is contained in the U.S. BioDefense's Annual Report on Form 10-K as filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The U.S. BioDefense does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.