SOURCE: Tulip BioMed, Inc.

July 11, 2006 08:28 ET

Tulip BioMed Begins Negotiations for Worldwide Distribution Plan

President Darin Andersen Undertakes Trip to China as Company Approves Production for Large Capacity Cannula Used in Liposuction

SAN DIEGO, CA -- (MARKET WIRE) -- July 11, 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 that the company is now in full negotiations with potential distributors worldwide.

President Darin Andersen is currently in China along with Board of Advisor participant Jay Poe to negotiate with several potential distributors in the Pacific Rim and China. Poe is a principal with NYPRO Corp., a global manufacturing company doing a billion dollars a year in revenue, and acts as a strategic advisor to Tulip BioMed and its production capabilities.

"This is an important step in meeting our overall distribution plan," said Marc Pilkington, CEO of Tulip BioMed. "Jay is well-experienced in global operations and is a wonderful asset for the company. I am sure that he and Darin will negotiate well for Tulip BioMed, helping us to put in place a worldwide distribution plan to complement our recently announced global certification strategy."

Tulip BioMed also announces the release of a second wave of products into production. These products are geared for large volume liposuction and were covered by the 510-K that received FDA clearance in May 2006. The anchor product for this group, the 60cc hub cannula, has completed its design and prototype stage and has been released for production. Samples are expected to be available for the American Society of Plastic Surgeons convention in San Francisco, October, 2006. Distribution of these products are planned for (Q1) 2007.

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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