FREEHOLD, N.J., Sept. 23, 2005 (PRIMEZONE) -- New Life Scientific, Inc. (OTCBB:NWLF) today announced the signing of a Letter of Intent with CureLab, Inc. for a long-term Joint Development and Marketing Plan (JDMP) of Cure Lab's pharmaceutical and biotech products. The intended agreement of collaboration will allow New Life to gain access to new product lines and CureLab to accelerate development of its current products using the experience of New Life's scientific staff as well as use of New Life's recently announced acquisition of Pharma Trials International and conducting clinical studies in Eastern Europe to reduce the cost of development.
CureLab, Inc. has expertise in the clinical and technical development of pharmaceutical and biotech products, and is the holder of licenses and patents for various pharmaceutical compounds, products and drug delivery systems.
Wieslaw J. Bochenek, M.D., Ph.D., F.A.C.P. president of New Life Scientific, Inc. commented that: "New Life Scientific, Inc. looks forward to the opportunities CureLab presents and stands ready to assist in the further development and value of its products, licenses and intellectual property."
About New Life Scientific, Inc. (NWLF):
NWLF recently acquired Novo Life Scientific (Ukraine), the holder of a cooperation agreement with the Institute of Molecular Biology and Genetics of the Ukrainian Academy of Sciences (IMBG). Nova Life Scientific, in conjunction with IMBG, highly regarded for its extensive knowledge and expertise in the fields of molecular cell biology and molecular genetics research, intends to develop and market certain stem cell related products and therapies, and to establishment a stem cell bank in the region of Ukraine. Novo Life Scientific (Ukraine) has been researching and is in the process of developing the business model for the creation of a stem cell bank and stem cell treatment facilities to be based in Europe. The company hopes to analyze and share its research regarding stem cell therapy and tissue regeneration with other scientific groups and to take advantage of the extensive research previously conducted in Ukraine by IMBG.
New Life Scientific, Inc, has also recently acquired Pharma Trials (PTI), a provider of services in the areas of clinical trials, market research and the regulatory approval of products for pharmaceutical companies and Contract Research Organizations (CROs).
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