NEW YORK, March 28, 2006 (PRIMEZONE) -- Azurel, Ltd. (Pink Sheets:AZUR) today announced that it has entered into a letter of intent to merge with National Stem Cell, Inc. (NSCI). Upon the completion of the merger, NSCI shareholders will own more than 90% of the outstanding shares of the surviving entity which will be called National Stem Cell, Inc.
The letter of intent is a non-binding indication of the parties to merge and is subject to further due diligence by both parties. The parties intend to enter into a definitive merger agreement within 60 business days.
About National Stem Cell, Inc.
National Stem Cell, Inc. (NSCI) is a biotechnology company headquartered in Mountainside, New Jersey dedicated to the advancement of regenerative medicine. Incorporated in 2005, NSCI is allied with a local laboratory and cryo-storage facility through a joint venture with Biogenetics Inc. and operates the Sperm Bank of New York as a wholly owned subsidiary. Through its sponsored research agreement with the Johns Hopkins University School of Medicine's Institute for Cellular Engineering (ICE), NSCI is focused on the development of potential stem cell therapies for the treatment of diabetes and cardiac injury. The company also plans to develop a genetically diverse national umbilical cord blood bank to meet the growing need for transplant grade umbilical cord blood stem cells.
About Azurel
Azurel Ltd., headquartered in New York, is a cosmetic company with its own proprietary brands including Privilege and Benendre.