U.S. BioDefense to Launch Open Source Platform for Rapid Stem Cell Research and Development. Read on for the complete announcement.
City of Industry, CA � January 21, 2005 – U.S. BioDefense, Inc. (OTCBB: UBDF) announced today that it is developing an Open Source Stem Cell Research Platform to leverage the distributed power of open source development. The Open Source Stem Cell Research Platform will allow researchers at Universities, Government Agencies, and Fortune 500 companies to read, distribute, modify and contribute to stem cell and biotechnology research in an efficient and streamlined method. The platform which can be used as an Intranet or online will provide access to bioinformatic tools and serve as a robust utility for the rapid evolution of Stem Cell technology research, development, and commercialization.
U.S. BioDefense CEO David Chin stated, �We intend to quickly scale up revenues by focusing on selling Open Source collaborative technology research and transfer tools as well as commercializing leading edge technology. The proliferation of open source development to industries beyond software has prompted U.S. BioDefense to aggressively lead the drive in implementing the philosophy and benefits to the emerging stem cell industry. We are positioning ourselves at the nucleus of Stem Cell research and development tools in order to leverage the potential of California’s $3 Billion Stem Cell Research Fund and our Department of Defense SBIR Grant response related to Embryonic Stem Cell technology for Bioengineered skin commercialization.�
U.S. BioDefense is aggressively pursuing its technology transfer initiative by incorporating the distributed power of open source development in individual biotechnology fields related to biodefense research beginning with its Stem Cell commercialization initiative. The Open Source Stem Cell Research Platform being developed by U.S. BioDefense is an adaptation of the monumental open source movement in software development that has also been embraced by large technology companies like IBM (NYSE: IBM), Novell and Sun Microsystems (Nasdaq: SUNW).
According to Wired Magazine recently the idea of open source biotechnology has been gaining momentum with the introduction of BIOS, the Biological Innovation for Open Society (www.bios.net), a non profit with the support of The Rockefeller Foundation encompassing the creative use of living systems and their environment, and with the implementation of open source principles and development methods in the field of bioinformatics. According to BIOS� web site the organization will create a mechanism �BioForge� by which like-minded individuals and agencies can collaborate with optimum effectiveness to solve problems and create technologies under an open-access regime. The goal of BioForge is to forge a dynamic protected commons of enabling technologies that will be available to the worldwide inventive community for use in improvement and new innovations. The VA Software SourceForge.net Open Source network provides a scalable solution for empowering development teams across the diverse worldwide Open Source community. Today, SourceForge.net is the world’s largest Open Source software development web site, hosting more than 90,000 projects and over 950,000 registered users. OSTG receives more than 230 million page views and over 16 million unique visitors every single month.
About U.S. BioDefense, Inc.
U.S. BioDefense is a Department of Defense central contractor that researches, develops, and commercializes leading-edge biotechnology. U.S. BioDefense recently announced that it had filed its Small Business Innovation Research (SBIR) Grant proposal Number C051-117-0060 with the Department of Defense Chemical Biological Defense Agency in response to SBIR (dodsbir.net) Topic number CBD05-117 ‘Stem Cell Technology And Autologous Bioengineered Skin For The Treatment of Cutaneous Vesicant Injury’. U.S. BioDefense recently sponsored the Project T2 Technology Transfer Conference, the nation’s leading showcase of new university technologies, being hosted at the Wilshire Grand Hotel in Los Angeles, CA. Other sponsors (http://www.projectt2.org/sponsors.htm) include Southern California Edison, Latham & Watkins, Morrison & Foerster, PricewaterhouseCoopers, Canadian Consulate General, and Genzyme (NYSE: GENZ). U.S. BioDefense, Inc. recently entered into a Commercial Evaluation License Agreement with the National Institutes of Health (NIH). The biotechnology is related to a method for universal inactivation of viruses, parasites and tumor cells. These inactivated agents can be used as vaccines against the diseases caused by such viruses, parasites and tumor cells. Hence, the immunogenic of the agent as a whole is maintained and can be safely used for vaccination without the threat of infection. U.S. BioDefense, Inc. intends to conduct laboratory experiments under this Agreement to evaluate the suitability for commercial development. Furthermore, U.S. BioDefense, Inc. has agreed to provide the facilities, personnel, and expertise to evaluate the commercial applications. NIH’s bioterrorism budgets have jumped from $53 million in 2001 to $1.7 Billion in 2005.
Safe Harbor Statement Forward-Looking Statements Included in this release are certain �forward-looking” statements, involving risks and uncertainties, which are covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s financial performance. Such statements are based on management’s current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, the success of enhancements to the Company’s brand image, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending, including uncertainties relating to global political conditions, such as terrorism. Information with respect to important factors that should be considered is contained in the Company’s Annual Report on Form 10-K as filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.
U.S. BioDefense, Inc.
David Chin, 626-961-0562