Human BioSystems
OTC Bulletin Board : HBSC

Human BioSystems

January 23, 2006 07:00 ET

Human BioSystems Reviews Major Events In Year 2005-CEO Interviewed by Wall Street Reporter

PALO ALTO, CALIFORNIA--(CCNMatthews - Jan. 23, 2006) - Human BioSystems (OTCBB:HBSC), developer of preservation platforms for organs and other biomaterials, reviews the major events that impacted HBS in the year 2005, and sets goals for 2006.

The year 2005 marked the Company's ninth year of existence, according to HBS CEO, Harry Masuda. "It was an eventful year in that the positive decisions we made in 2005 affected the senior management, the Board of Directors, and the overall operation of the Company. This should better prepare us for 2006 and beyond," Mr. Masuda said.

"We streamlined the organization to place more emphasis on meeting our short term corporate objectives in 2005. While marketing and strategic planning are important functions toward achieving our long term goals, the decision was made to downsize recurring expenses in not only those but other areas, favoring the placement of more resources toward completing the platelet human infusion studies sooner and towards accelerating our organ preservation research," continued Mr. Masuda.

Dr. David Winter joined Human BioSystems as President in 2005. He brings to HBS a comprehensive experience and knowledge base encompassing the regulatory procedures that the Company anticipates it will encounter in 2006. "Dr. Winter's expertise in managing medical technology companies is welcome, especially now as we commence discussions with possible strategic partners in 2006," noted Mr. Masuda.

Dr. Larry McCleary joined the Board of Directors in 2005, bringing additional medical and business expertise to HBS.

HBS's Advisory Board was strengthened with the addition of Mr. Gary Harris, who has during his career been involved in many mergers and acquisitions, investment banking transactions, and licensing of technology.

Dr. Luis Toledo, HBS Chief Medical Officer, stated, "We believe that we have achieved major breakthroughs in preservation technology during this past year. One of our accomplishments included the transplantation and recovery of an animal kidney that had been frozen for 3 months, showing some initial function after transplantation. We also demonstrated that our HBS-AZ preservation solution was superior to the HTK solution (the current medical gold standard in Europe) in survival studies conducted on small animals. We hope to duplicate our results with organs from larger animals and humans in the future, providing a process which could ultimately result in better donor/recipient matches, potentially reaching our goal of reducing the need for immuno-suppressant drugs."

"Platelet studies in humans have been slow in the past due to lack of available funds and other factors. However HBS has now enlisted two independent laboratories to conduct equivalent studies on humans. The successful conclusion of these studies should allow the Company to take the next step toward FDA approval and the commercialization of the HBS platelet preservation technology," according to Dr. David Winter, HBS President. The Company plans to complete these studies in 2006.

Harry Masuda, CEO of HBS was recently interviewed by Wall Street Reporter. Mr. Masuda discusses the past year and future plans in his audio interview which can be heard by accessing the link below.

HBS is headquartered in Palo Alto, California with research facilities in Michigan.

Certain statements contained herein are "forward-looking'' statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, results from ongoing research and development as well as clinical studies, failure to obtain regulatory approval for the Company's products, if required, failure to develop a product based on the Company's technology, failure of any such products to compete effectively with existing products, the inability to find a strategic partner or to consummate a relationship with a potential strategic partner on acceptable terms, and other factors discussed in filings made by the Company with the Securities and Exchange Commission.

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