SOURCE: Vitro Diagnostics, Inc.

October 30, 2007 08:00 ET

Vitro Will Report Increased Product Sales in 2007

AURORA, CO--(Marketwire - October 30, 2007) - Vitro Diagnostics, Inc. (OTCBB: VODG), dba Vitro Biopharma, will report increased VITROCELL™ product sales for its fiscal year 2007, ending October 31. Sales increased about six-fold compared to 2006 and represent sales of human pancreatic cell lines and growth media optimized to support these cells. These products were sold through an existing distribution agreement and are primarily intended for use in biomedical research. Sales of VitroPlus II, a cell culture media, increased 50% over 2006 sales by volume, indicating continued usage of our cell lines by the research community. VitroPlus II is a proprietary liquid formulation developed by the Company for optimum growth of its cell lines. Also, there was an increase in sales of cell lines (~50% of the total increase) which indicates increased market demand for these novel human pancreatic cell lines. Our products are especially suited for research studies of stem cell self-renewal and differentiation.

"We are pleased with the increased product sales. This indicates a growing market acceptance of our products. Our existing products represent a small market compared to the markets we are presently pursuing," says Dr. Jim Musick, Vitro's President and CEO. "We have outsourced marketing and distribution of these existing products to focus our available resources on the commercialization of new stem cell-derived human beta islets. We believe there is a large, unmet market need in diabetes basic research, drug development and discovery. We intend to pursue all available opportunities to increase both existing and new product sales and look forward to further increased sales in 2008."

About Vitro Diagnostics, Inc.

Vitro Diagnostics, Inc. dba Vitro Biopharma (OTCBB: VODG) http://www.vitrodiag.com, has generated over 30 adult pancreatic stem cell lines that are distinctly different from the limited number of embryonic stem cell lines that are presently approved for federally funded research. These cell lines may have commercial application in drug development and discovery, diabetes research and therapy. The Company developed and manufactures the VITROCELL™ brand of human cell lines consisting of pancreatic-derived cell lines and related products that are sold for various research and commercial applications.

Safe Harbor Statement

Certain statements contained herein and subsequent oral statements made by and on behalf of the Company may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are identified by words such as "intends," "anticipates," "believes," "expects" and "hopes" and include, without limitation, statements regarding the Company's plan of business operations, product research and development activities, potential contractual arrangements, receipt of working capital, anticipated revenues and related expenditures. Factors that could cause actual results to differ materially include, among others, acceptability of the Company's products in the market place, general economic conditions, receipt of additional working capital, the overall state of the biotechnology industry and other factors set forth in the Company's Annual Report on Form 10-KSB for the fiscal year ended October 31, 2006 under the caption, "Risk Factors." Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking statements. Except as otherwise required by applicable securities statutes or regulations, the Company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • CONTACT:
    Dr. James Musick
    Chief Executive Officer
    Vitro Diagnostics, Inc.
    (720) 859-4120
    E-mail: Email Contact