SOURCE: Tulip BioMed, Inc.

June 21, 2006 08:28 ET

Initial Feedback on Tulip BioMed Disposable Surgical Instruments Positive

Tulip Announces Results From First Use of the Product on Patients

SAN DIEGO, CA -- (MARKET WIRE) -- June 21, 2006 -- Tulip BioMed™, Inc. (PINKSHEETS: TPBD), formerly known as Cell Bio-Systems, a developer of medical devices and patented technologies for the living tissue markets, including plastic, cosmetic, and orthopedic surgeries, today announced it has received initial feedback on its new Fat Transfer Kit, which contains its recently FDA-approved disposable surgical instruments.

The first commercial procedures using this new technology were performed by Dr. Robert Alexander of Seattle, Washington. Dr. Alexander is Board-certified in cosmetic surgery, recognized as one of the top plastic surgeons in the United States, and is a pioneer in fat transfer procedures, having performed more than a thousand of these procedures. As a member of Tulip BioMed's Board of Scientific Advisors, Dr. Alexander was one of the first physicians to receive promotional micro-cannula kits for use in live surgery using fat transfer procedures after the instruments received FDA clearance in May.

Dr. Alexander reports positive results. "The disposable cannulas are very easy to use, and the super-luer is the best," said Alexander. "With the hydrophilic coating on the inside and outside of the instruments, they become more slippery when wet; after two to three passes, resistance effectively disappears. And the cellular sizes are very even, with minimal or no matrix."

Plastic surgeons look for minimal resistance with a surgical cannula because less resistance allows the instrument to more easily slip through human tissue, causing less trauma to the cells and potentially supporting a reduced recovery time period.

"We are ecstatic, but not surprised, about the feedback from Dr. Alexander," said CEO Marc Pilkington. "We have done a lot of work and preparation to make sure that these kinds of results would occur using our disposable cannulas. This is just the first of many testimonials we are anticipating."

According to Darin Andersen, president and COO of Tulip BioMed, after completing the first production pieces earmarked for promotional and sample kits, Tulip BioMed now has 48,000 pieces in various stages of final production, from final assembly through sterilization. Another 48,000 pieces are in the initial stages of manufacturing and a third batch of 48,000 pieces is entering the approval process.

"This feedback underscores the real need for this new technology," said Andersen. "We are working hard to fill the product pipeline to meet the expected demand for this product."

About Tulip BioMed, Inc.

Tulip BioMed, Inc. (PINKSHEETS: TPBD), formerly known as Cell Bio-Systems, Inc., is a Nevada corporation with operations based in San Diego, California. Founded in 2004, Tulip BioMed, Inc. is a medical device, biotechnology company that manufactures and distributes patented technologies for the plastic and cosmetic surgery, biopsy, orthopedic surgery, stem cell therapy and other living tissue markets. Tulip BioMed, Inc. is the exclusive licensee of patented syringe connection devices that use the worldwide-recognized Tulip brand name. Tulip BioMed, Inc. manufactures, markets, and distributes medical devices, adapted with these and other patented technologies, to physicians, clinics, military, health organizations, hospitals and other distribution outlets. For more information, go to: www.tulipbiomed.com. Products are available for sale at www.tulipdisposable.com.

Safe Harbor: This press release contains certain forward-looking information about Tulip BioMed, Inc., formerly Cell Bio-Systems, Inc. ("Cell Bio-Systems"), which is intended to be covered by the safe harbor for "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Words such as "expect(s)," "feel(s)," "believe(s)," "will," "may," "anticipate(s)," and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, financial projections and estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to future operations, products and services; and statements regarding future performance. Such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of Tulip BioMed, Inc., that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include: our lack of operating revenue and earnings history, our need for additional capital to pursue our business strategy. We are a non-reporting company and as such do not make periodic filings with the Securities and Exchange Commission. We trade on the Pink Sheets and there can be no assurances that a liquid market will develop in our securities. Readers are cautioned not to place undue reliance on these forward-looking statements. Tulip BioMed, Inc. does not undertake any obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

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