BOTHELL, Wash., Feb. 11 /PRNewswire-FirstCall/ -- In response to the
recent comments by certain plaintiff law firms regarding their filing of
class action lawsuits, CellCyte Genetics Corporation (the "Company") (OTC
Bulletin Board: CCYG) asserts that the pending claims are without merit and
will be shown to be so in a court of law. To that end, CellCyte has
retained the international law firm of Duane Morris LLP as its counsel and
will defend itself vigorously in these matters. Concurrently, the Company
will continue its commitment to and pursuit of its policy of ensuring that
its operations comply with all applicable laws.
"CellCyte is founded on patented technology discovered by and licensed
from the US Department of Veteran Affairs. We continue a solid and
aggressive development plan for this important technology for the delivery
of adult stem cells to the human heart," said Gary A. Reys, Chairman and
CEO of CellCyte. "Our highly skilled management and scientific team are
committed to developing our technologies to their fullest potential and we
continue to be actively involved in collaborations with the Cleveland
Clinic and other research leaders".
"Further," Reys said, "CellCyte is actively moving its intellectual
properties through the US patent and Trademark office to insure that our
technologies are well protected, which is one of the cornerstones of any
biotechnology company which helps insure our shareholders a solid and
protected technology base. Our most recent patent was issued in November
2007 that covers CellCyte's lead composition. This most recent patent
milestone gives CellCyte three fully issued patents."
CellCyte Genetics continues to be actively engaged in carrying out its
business plan and corporate objectives as stated in the company's
literature and filings. This fact is further evidenced by such major
advances as its move to the Company's new 26,000 foot facility and
corporate offices in Bothell Washington and its continued business
development efforts headed by Tony Colasin, who was previously Senior
Director of Business Development at ICOS, which was recently acquired by
Lilly.
About CellCyte Genetics
CellCyte Genetics, a Washington State company, is an emerging
biotechnology company engaged in the principal business of the discovery,
development and commercialization of breakthrough stem cell enabling
therapeutic products for use in regenerative medicine. The Company also has
a medical device division being developed to grow and expand a variety of
cells including Islet cells for diabetes and eventually proteins.
For further information see: http://www.cellcyte.com.
Symbol: OTCBB - CCYG; Frankfurt/Berlin Symbol - LK6 WKN. No.: A0MLCV.
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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 NEWS RELEASE, WHICH ARE NOT PURELY
HISTORICAL, ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS
REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.
EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED
IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO
CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER
MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED
OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS,
INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE
SUCH WORDS AS "ESTIMATE," "ANTICIPATE," "BELIEVE," "PLAN" OR "EXPECT" OR
SIMILAR STATEMENTS ARE FORWARD- LOOKING STATEMENTS. RISKS AND UNCERTAINTIES
FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH
THE CLOSING OF THE SHARE EXCHANGE AGREEMENT AND THE DEVELOPMENT AND FUNDING
OF THE COMPANY CONSEQUENT THEREON, AS WELL AS THE RISKS SHOWN IN THE
COMPANY'S MOST RECENT ANNUAL REPORT ON FORM 10-KSB AND ON FORM 10-QSB AND
FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE
COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL
PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE
COMPANY'S ABILITY AND LEVEL OF SUPPORT FOR ITS RESEARCH AND DEVELOPMENT
ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY'S DEVELOPMENT
EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL
SUCCESS.
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 NEWS 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 UNITED STATES SECURITIES
AND EXCHANGE COMMISSION. THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT
OF THE COMPANY WHO TAKE FULL RESPONSIBILITY FOR ITS CONTENTS. EACH OF THE
NASD, THE SEC AND THE OTCBB NEITHER APPROVES NOR DISAPPROVES OF THE
CONTENTS OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN
OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY
SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER,
SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR
QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
Key(s): stem cells stem cell islet cells CellCyte Genetics
