SOURCE: CalbaTech

March 02, 2007 08:35 ET

CalbaTech Begins Development of New Subsidiary to Enable It to Bring Its Stem Cell Microbank™ Service to the United Kingdom

Will Seek Listing on the London Stock Exchange

IRVINE, CA -- (MARKET WIRE) -- March 2, 2007 -- CalbaTech, Inc. (OTCBB: CLBE), an emerging life sciences company ( concentrating on the collection and banking of adult stem cells for possible future therapeutic uses and providing products and platforms to the biotech and pharmaceutical research markets and to academic institutions, today announced that it was creating a new subsidiary under CalbaTech to enable it to take its stem cell service to the United Kingdom and also to seek listing on the London Stock Exchange.

CalbaTech has excellent contacts into Scotland through one of its founders, a former researcher at Glasgow University, and has seen an opportunity to further develop its business by establishing a wholly owned subsidiary to sell its Stem Cell Microbank™ Service in the United Kingdom. CalbaTech expects that this new subsidiary will be managed entirely within the United Kingdom and will not distract from CalbaTech's United States focus. This new subsidiary will also seek to be listed on the London Stock Exchange, which will create opportunities for new capital for this subsidiary and CalbaTech, as well as create a significant asset on CalbaTech's Balance Sheet. CalbaTech is currently seeking counsel from entities knowledgeable about such a listing and will sign a consulting agreement at the time it selects an entity to provide such assistance. The Company has also consulted with an office of the British Consulate to help with this endeavor.

CalbaTech will license to its new subsidiary any and all intellectual property that is relative to stem cells that it currently owns along with any new intellectual property that it develops, with the geographic limitation being the United Kingdom, with an option for the continent of Europe, based upon performance.

The United Kingdom has shown its leadership in the leading edge of science through "Dolly" the sheep, as well as developing stem cell advances, and recently Sir Richard Branson of Virgin Atlantic has earmarked funds to create a national cord blood banking service in the United Kingdom.

About CalbaTech

CalbaTech, Inc. (OTCBB: CLBE) is an emerging life sciences company ( concentrating on providing products and platforms to the research market for biotech and pharmaceutical companies and to academic institutions. CalbaTech's wholly owned subsidiary LifeStem has developed a unique process to harvest stem cells in micro quantities to be cryopreserved for future transplantation into a client for medical purposes. The collection of stem cells from two different tissue sources increases the potential for treatment of more diseases.

Note: Certain statements in this news release may contain "forward-looking" information within the meaning of rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Act of 1934 and are subject to the safe harbor created by those rules. We use words such as "anticipate," "believe," "expect," "future," "intend," "plan," and similar expressions to identify forward-looking statements. These statements including those related to being in a large and growing market, exhibiting rapid growth characteristics, and having a growth strategy, are forward-looking statements. These forward-looking statements are only predictions and are subject to certain risks, uncertainties and assumptions. Some of the risks, uncertainties and assumptions that could cause actual results to differ materially from estimates or assumptions in this press release include the risk that we will not be able to grow our revenues and market share, the risk that our prices do not remain competitive and the risk that we will not achieve profitability. Additional risks are identified and described in the Company's public filings with the Securities and Exchange Commission, including our most recent Report on Form 10-KSB, and Reports on Form 10-QSB and Form 8-K. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events, or circumstances after the date of such statement.

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