CellCyte Genetics Corp. Continues to Move Its Technology Forward in Light of Plaintiff Law Firm Press Releases
Bothell (euro adhoc) -
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BOTHELL, Wash., Feb. 12 -- 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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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
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THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS
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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
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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.SOURCE CellCyte Genetics Corporation
end of announcement euro adhoc
Further inquiry note:
Investor Relations of CellCyte Genetics Corporation,
+1-425-368-1790
Web site: http://www.cellcyte.com
Branche: Biotechnology
ISIN: US15116P1030
WKN: A0MLCV
Börsen: Börse Frankfurt / Open Market
Börse Berlin / free trade
Börse Stuttgart / free trade
Börse München / free trade