SOURCE: Entest BioMedical Inc.

November 10, 2010 09:45 ET

Entest BioMedical Anticipates First Veterinary Clinic Acquisition and Near Term Commencement of ImenVax™ Safety Study

Company Enters Escrow in Connection With the Anticipated Acquisition of Veterinary Hospital With Historical Revenues of $700,000 Per Year; Entest Finalizes ImenVax™ Safety Study Protocols, Expects to Start Study Shortly

SAN DIEGO, CA--(Marketwire - November 10, 2010) - Entest BioMedical Inc. (OTCBB: ENTB) announced today it has entered into escrow on the proposed purchase of a veterinary hospital with historical revenues of approximately $700,000 per year. The details of this proposed transaction were disclosed in a Form 8K filed on October 28, 2010 with the United State Securities and Exchange Commission.

The Company plans to acquire several existing veterinary clinics, with the anticipated benefit to the Company being near term cash flow from operations, established for clinical testing facilities and future distribution channels for the Company's products and services.

Entest BioMedical's Chairman & CEO, David Koos, stated, "I'm excited about our first proposed veterinary hospital acquisition. Not only is the proposed acquisition anticipated to bring immediate revenue from operations to our company but this clinic treats on average more than 700 dogs with cancer per year and has the potential to provide an important link in the distribution chain of the ImenVax™ immuno-therapeutic cancer vaccine for dogs."

The Company also announced that it has finalized protocols with its scientific consultants for the ImenVax™ Safety Study. The objective of this study is to assess the safety of the Company's immuno-therapeutic cancer vaccine for use in dogs with cancer.

About Entest BioMedical Inc.:

Entest BioMedical Inc. (OTCBB: ENTB) is a developer of veterinary medicines that harness the animal's own reparative / immunological mechanisms. The company's products include an immuno-therapeutic cancer vaccine for canines (ImenVax™). The company's immuno-therapeutic cancer vaccine utilizes an encapsulation device as the vaccine delivery system and requires a simple implant procedure.


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