SOURCE: Upstream Biosciences Inc.

August 16, 2007 09:00 ET

Upstream Biosciences Announces Supply Agreement With Analytical Biological Services, Inc. for Tissue Samples for Biomarker Validation

Agreement Will Support Development of BioMarkers for Liver and Prostate Cancer

VANCOUVER, BC--(Marketwire - August 16, 2007) - Upstream Biosciences Inc. (OTCBB: UPBS), today announced it has signed an agreement with Analytical Biological Services, Inc. (ABS), to supply tissue samples to further the development of the Upstream biomarker program. Pursuant to the agreement, ABS will specifically supply human tissue samples for both prostate and liver cancers, and ABS is positioned to supply the donor medical data, histological and pathological data when required. Upstream discovers and develops proprietary diagnostic and prognostic biomarkers to improve the early detection of certain cancers including prostate and liver, and to predict the individual patient response to specific treatments. Terms of the agreement were not disclosed.

"ABS has developed a large network of tissue sources that can be utilized to meet our needs and support our biomarker development efforts," said Joel L. Bellenson, Upstream CEO. "We are pleased to have completed this agreement. We anticipate that securing a steady source of tissue samples will allow our programs to move ahead expeditiously."

Charles F. Saller, Ph.D., CEO of ABS added: "We look forward to working with Upstream Biosciences to enable the rapid progress of their programs to validate their proprietary prostate and liver cancer biomarker candidates."

Based in Wilmington, Delaware, ABS provides a full range of tissues, human cells, blood components, body fluids, and tissue-derived bioreagents for basic research, drug discovery, and biomarkers studies.

Upstream is developing diagnostic tests designed to aid in the early detection of cancer by identifying individuals with a high degree of susceptibility to the disease. The company is also developing genetic-based diagnostic tests to measure how individuals respond to specific drugs, enabling physicians to determine beforehand whether a therapy will be useful or harmful to the patient. A recent study in the Journal of the American Medical Association estimated that each year about 100,000 people die in the United States due to adverse reactions to prescription drugs. Please visit Upstream's website at www.upstreambio.com

For more information, please contact Samantha Haynes at 1-800-539-0289 or info@upstreambio.com.

Media Contact: GendeLLindheim BioCom Partners, Barbara Lindheim: Tel: 212-918-4650

Notice Regarding Forward-Looking Statements: This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, the expectation and/or claim, as applicable, that: (i) the Company's biomarkers may improve the early detection of certain cancers including prostate and liver, and may predict the individual's response to specific treatments; (ii) securing a steady source of tissue samples may allow the Company's programs to move ahead expeditiously; (iii) the Company's tests are designed to aid in the early detection of cancer by identifying individuals with a high degree of susceptibility to the disease; and (iv) collaboration with ABS may enable the rapid progress of the Company's programs. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (i) the risk that the Company does not execute its business plan; (ii) the inability of the Company to keep pace with technological advancements in the field of genetic diagnostics; (iii) the Company's inability to adequately protect its intellectual property or the Company's inadvertent infringement of third party intellectual property; (iv) the Company not being able to retain key employees; (v) competitors providing better or cheaper products and technologies; (vi) markets for the Company's products not developing as expected; (vii) the Company's inability to finance its operations or growth; (viii) inability to obtain all necessary government and regulatory approvals; and (ix) the inability to effectively market and commercialize the Company's technologies, including the establishment of viable relationships with third parties. These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's periodic reports filed from time-to-time with the Securities and Exchange Commission and available at www.sec.gov.

Contact Information

  • For more information, please contact:
    Samantha Haynes
    1-800-539-0289
    Email Contact

    Media Contact:
    GendeLLindheim BioCom Partners
    Barbara Lindheim
    Tel: 212-918-4650