SOURCE: Umbra Applied Technologies, Inc.

Umbra Applied Technologies, Inc.

March 07, 2014 09:40 ET

Umbra Applied Technologies Group Introduces Propestat

SHORT HILLS, NJ--(Marketwired - Mar 7, 2014) -  Intrepid Innovations Corporation, an (OTC:UATG )company, announced that its wholly owned subsidiary, Intrepid Medical Technologies Corporation, has introduced its blood product storage and preservation product, Propestat. The CEO of Intrepid Innovations Corporation, Chuck Winters, commented that, "Propestat, has the potential to be a paradigm shifting technology in blood product storage and platelet preservation."

Blood storage and platelet preservation is a major issue. Every day in the U.S., approximately 41,000 units of blood are required in hospitals and emergency treatment facilities for patients needing treatment with cancer, organ transplants, and accident/trauma. There is a constant, vital demand for greater blood supply and storage management. Chuck Winters further stated that, "The aim of Propestat is to increase the viability of blood products and platelets. We believe that Propestat has the potential to help doctors save the lives of their patients by creating a better, more stable supply of blood and blood platelets."

Chairman of Umbra Applied Technologies Group, Alex Umbra, remarked that "We are truly excited about the future of Propestat and look forward to undergoing preclinical trials in the near future". Propestat was developed under exclusive agreement with Protokinetix (OTC: PKTX). Umbra Applied Technologies Group anticipates that its continued collaboration with Protokinetix will ensure that Propestat impacts the biotechnology community, and ultimately, patients in a very meaningful way."

About Intrepid Innovations Corporation

Intrepid Innovations Corporation is a member of the Umbra Applied Technologies Group (OTC: UATG) family of companies. Intrepid Innovations is a diversified technologies company with holdings in alternative energies, natural resource exploration, and medical technologies.

About Umbra Applied Technologies Group, Inc.

Umbra Applied Technologies Group, Inc. is a diversified, leading edge technology company with an intrepid vision in the fields of alternative energy, conventional energy, medical innovation, environmental remediation, weaponry, and compound recognition technologies which are marketed toward homeland security.

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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

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