SOURCE: Tulip BioMed, Inc.

December 20, 2006 08:28 ET

Tulip BioMed Comments on Revenue Projections and Conversion Rate of Reusable Users to Disposables

SAN DIEGO, CA -- (MARKET WIRE) -- December 20, 2006 -- Tulip BioMed, Inc. (PINKSHEETS: TPBD), a developer of medical devices and patented technologies for use in the living tissue market, including plastic, cosmetic, and orthopedic surgeries, comments on market acceptance and year-to-date sales of its disposable instruments.

Tulip BioMed has recently begun delivering disposable, minimally invasive, coated cannulas, in multiple tip configurations and sizes for body contouring, for the plastic, cosmetic and filler markets. The instruments developed by Tulip BioMed are designed to solve cross-contamination issues by eliminating reuse of instruments in liposuction, fat transfer and other closed end cannula procedures. The lubricious coating is designed to not only decrease trauma to the cells inside the lumen, but is also designed to increase ease of manipulation for extraction and re-injection procedures, minimize bruising and swelling and shorten recovery periods.

Sales of Tulip BioMed's disposable instruments have been steadily increasing from its "official" launch on September 14, 2006 at the AAFPRS show in Toronto. In the past, medical professionals have been accustomed to using only reusable devices. With the advent of Tulip disposable instruments availability and patient safety awareness growing, Tulip believes the conversion from reusable cannula users to disposable users will grow exponentially.

With several hundred "sample kits" delivered to targeted medical professionals, Tulip BioMed has experienced resounding conversion rates, upwards of 35 - 40% for medical professionals who have been traditionally reusable cannula users. This far surpasses typical conversion rates for new product launches, which normally range from 2% to 5% during the first six to twelve months of a product's life. Tulip BioMed believes that the quality and ease of use make the disposable instruments a must-have product. Tulip BioMed asserts that medical professionals who want an edge will offer completely disposable instruments in their practices, setting these physicians apart from their competition.

Tulip BioMed's Director of Sales and Marketing, Dori Gavitt, said, "Even though sales of our initial line of products have been successful, any new product launch requires change; and change, no matter how good the product is, takes time. We are confident that this change will happen quickly, because of our physician relationships, as well as the attention that the medical profession is paying to Tulip's disposable cannulas. The public's desire for safety will make Tulip a product that will be required in every doctor's office in the near future."

During August of 2006 Tulip BioMed projected revenues to reach a level of $3.0 million per annum, and the company is still confident that even with delays in FDA approval, manufacturing and marketing campaign kick-off, with proper capital Tulip BioMed should reach revenue levels projected of $5.0 million for fiscal year 2007. The company is encouraged by the fostering relationships that are developing in the dermal filler market for the Tulip disposable instruments as well. With over 1.5 million procedures performed in 2005, Tulip's safer blunt end cannulas are a natural fit for this high growth market.

"As a leader in developing tissue friendly devices," said Tulip BioMed CEO Marc Pilkington, "we know that Tulip's disposable cannula system will change how medical professionals and the public view safety and recovery time in their quest to remain youthful and vibrant with the least amount of risk and best results."

About Tulip BioMed, Inc.

Tulip BioMed, Inc. (PINKSHEETS: TPBD) 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: Products are available for sale at

Safe Harbor: This press release contains certain forward-looking information about Tulip BioMed, Inc., 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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