SOURCE: Proteonomix

Proteonomix

December 13, 2010 10:07 ET

Proteonomix (PROT) Applauds Cephalon Stem Cell Acquisition; Notes Similar Proteonomix StromaCel® Technology

MOUNTAINSIDE, NJ--(Marketwire - December 13, 2010) - Proteonomix, Inc. (OTCBB: PROT) notes the favorable similarity between technology involved in the Cephalon, Inc. (CEPH) transaction with Australian company Mesoblast Limited.

Michael Cohen, the Company's founder and CEO stated, "We applaud the transaction between Cephalon and Mesoblast and take this opportunity to note that our StromaCel® bone marrow derived stem cell technology attacks similar medical problems with a different approach." (Transaction Hyperlink)

Mr. Cohen continued, "Our StromaCel® technology is also designed to treat damage to cardiac tissue caused by myocardial infarction (MI) and we are actively seeking funding to open clinics worldwide to treat MI patients. This technology was developed in conjunction with the University of Miami where bone marrow derived stem cells are undergoing Phase I trials. We are seeking joint venture partners to give effect to this strategy."

Proteonomix is a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives. Proteoderm, Inc. is a wholly owned subsidiary of Proteonomix. StromaCel, Inc.'s goal is the development of therapeutic modalities for the treatment of Cardiovascular Disease (CVD). StromaCel, Inc. is pursuing the licensing of other technologies for therapeutic use. National Stem Cell, Inc. is Proteonomix's operating subsidiary. The Sperm Bank of New York, Inc. is a fully operational tissue bank. Proteonomix Regenerative Translational Medicine Institute, Inc. ("PRTMI") intends to focus on the translation of promising research in stem cell biology and cellular therapy to clinical applications of regenerative medicine. Proteonomix intends to create and dedicate a subsidiary to each of its technologies. Please also visit www.proteonomix.com, www.proteoderm.com and www.sec.gov.

Forward-looking Statements
Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Proteonomix, Inc. cautions that statements made in this press release constitute forward-looking statements and makes no guarantee of future performance. Actual results or developments may differ materially from projections. More specifically, the investment may never occur, product performance and/or side effects may necessitate termination of any joint venture, and inadequate or no business may develop causing failure of the joint ventures and there are inherent risks in foreign operations, particularly those in the Mideast. Forward-looking statements are based on estimates and opinions of management at the time statements are made.

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