Acquisition News – Biotechnology Growth Company Announces Acquisition Option – New FDA Cleared Products to be Marketed in North America

Biotechnology acquisition news - New acquisition terms announced - Growth company, CalbaTech, Inc. (Irvine, California), announces new acquisition terms for Qicc, Ltd. (Scotland). U.S. FDA clears new Immunohistochemistry reagents and kits. North American sales and marketing program to be enacted.

IRVINE, CA (PRWEB) July 14, 2003 – Biotechnology growth company, CalbaTech, Inc. (Stock Symbol = CLBE), continues to enact their acquisition based corporate growth and expansion program.

They recently announced that they have reached new terms with Qicc, Ltd. (Scotland), including an option for the future acquisition of majority ownership of Qicc. See http://www.calbatech.com/news7-1.htm for more information.

With recent U.S. Food and Drug Administration clearance for its QiccStain(TM) Immunohistochemistry reagents and kits under an exemption as a Class I Device, CalbaTech is taking steps to begin selling Qicc's slide-based diagnostics products in North America. See http://www.calbatech.com/qicc.htm.

The Exclusive License with Qicc covers all of Qicc's manual products in North America, as well as for the development and distribution of an automated product in both North America and Japan. CalbaTech has recently begun its search for a strategic partner in Japan. Interested parties are encouraged to contact the company, http://www.calbatech.com/calbatech.htm.

CalbaTech, Inc. acts as the entrepreneurial arm for inventors and their sponsoring universities. The corporate growth program focuses on acquiring, incubating and enhancing early stage, life science based companies that are developing next generation products and technologies.

Acquisition and expansion is planned both in the United States as well as in the United Kingdom.

Management has selected the growth sector niches of bio-informatics, bio-security and platform reagents (http://www.calbatech.com/life-sciences.htm) as areas that offer lower risks and the potential for faster returns.

Additional information can be obtained on the Company's Website at: http://www.CalbaTech.com.

Note: Certain statements in this news release may contain "forward looking" information within the meaning of rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, may include forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements.