Human BioSystems
Human BioSystems: Human BioSystems Signs Project Agreement to Assist the Company in Evaluating Potential Partners of Its Preservation Technologies
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The issuer is solely responsible for the content of this announcement.
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Human BioSystems Signs Project Agreement to Assist the Company in
Evaluating Potential Partners of Its Preservation Technologies
Palo Alto, CA – August 15th, 2006 – (OTCBB:HBSC) Human BioSystems (‘HBS’ or
‘Company’) announced today that it has signed an agreement with UTEK
Corporation (‘UTEK’) to assist HBS in identifying and making introductions
to potential business partners of the Company’s preservation technology,
including its above zero and below zero preservation technology for organs
and other biomaterials, as well as its blood platelet preservation process.
According to Harry Masuda, CEO of Human BioSystems, ‘UTEK has contacts that
are relevant to HBS technology and we are excited to establish this
business relationship to utilize their expertise towards optimizing our
process of selecting the right partner for each of our technologies.
Partnering has been in our business plan from the beginning and it has been
our goal to establish strategic partners who have the distribution channels
required to sell our products worldwide.’
HBS plans to market its preservation technologies worldwide, including a
number of markets in the United States. The diversity of markets available
to HBS makes the UTEK Project Agreement an essential step forward toward
achieving the Company’s goal of leveraging its efforts to bring products to
market as quickly as possible. As UTEK helps to identify the appropriate
partners for the HBS technologies, the Company can move forward in creating
new markets for its preservation technologies.
‘When we license a technology, we can segment and limit the license to a
particular application, an example being the preservation of donor organs
while excluding the application for islet cells. We may also elect to sell
components of our technology such as packaged solutions to companies as a
‘general preservation solution’ for research, which may result in
commercial sales of our preservation solutions. In other words, licensing
will not preclude us from entering non-licensed markets or activities,’
continued Mr. Masuda.
Human BioSystems is a developer of preservation platforms for organs and
other biomaterials. The Company, which is headquartered in Palo Alto,
California with research facilities in Michigan, has been granted four
patents by the U.S. Patent Office. HBS also announced recently the signing
of a letter of intent to enter the BioFuels business through the
acquisition of two ethanol production facility projects from EXL III.
Contact:
Human BioSystems Investor Relations
Harry Masuda Yes International
CEO Rich Kaiser
(650) 323-0943 (800) 631-8127
hmasuda@humanbiosystems.com rich@yesinternational.com
Investor Relations
Concept Communications, LLC
James D. Caldwell
(727) 447-0514
jc@conceptcg.com
Certain statements contained herein are ‘forward-looking’ statements (as
such term is defined in the Private Securities Litigation Reform Act of
1995). Because such statements include risks and uncertainties, actual
results may differ materially from those expressed or implied by such
forward-looking statements. Factors that could cause results to differ
materially from those expressed or implied by such forward-looking
statements include, but are not limited to, results from ongoing research
and development as well as clinical studies, failure to obtain regulatory
approval for the Company’s products, if required, failure to develop a
product based on the Company’s technology, failure of any such products to
compete effectively with existing products, the inability to find a
strategic partner or to consummate a relationship with a potential
strategic partner on acceptable terms, and other factors discussed in
filings made by the Company with the Securities and Exchange Commission
(c)DGAP 17.08.2006
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