CalbaTech Announces $999,926 Reduction in Debt; First Adult Stem Cell Harvesting...

CalbaTech Announces $999,926 Reduction in Debt; First Adult Stem Cell
Harvesting Scheduled

LAGUNA HILLS, Calif., March 31 /PRNewswire-FirstCall/ -- CalbaTech, Inc.
(OTC Bulletin Board: CLBE), the emerging life sciences company
(http://www.CalbaTech.com ) concentrating on the collection and banking of
adult stem cells for possible future therapeutic uses, today announced the
Company decreased debt by $999,926 in 2007.
CalbaTech announced revenues of $1.149 million in 2007, down slightly from
$1.250 million in 2006. Gross profit in 2007 totaled $662,849. Net income in
2007 was $27,940 compared to $13,801 in 2006.
"The significant decrease in debt is a major achievement for our financial
stability and our future prospects," said James DeOlden, CEO. "We are also
pleased to announce that the very first harvesting of adult stem cells by
LifeStem(TM) will occur at the Youthtopia Med Spa, near Atlanta, on May 10th."
Mr. DeOlden also announced that "Keller Medical Institute, the well
respected medical group headquartered in Monterey, California, which is
marketing and selling the LifeStem(TM) service for the collection of healthy
adult stem cells for future medical use, has added three physicians to its
LifeStem training program."
LifeStem(TM) is a wholly owned subsidiary of CalbaTech. The procedure it
developed for the harvesting of adult stem cells uniquely involves the
collection of both blood and adipose tissue. The process allows for the
collection of adult stem cells in micro quantities to be cryopreserved for
future transplantation into the same client, with possible future medical
therapies ranging from heart disease to diabetes and other diseases that are
currently difficult to treat.
About CalbaTech
CalbaTech, Inc. (OTC Bulletin Board: CLBE) is the emerging life sciences
company (http://www.CalbaTech.com), concentrating on providing products and
platforms to the research market for biotech and pharmaceutical companies and
to academic institutions, as well as providing services in the collection,
processing and storage of adult stem cells.
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. We use words such as
"anticipate," "believe," "expect," "future," "intend," "plan," and similar
expressions to identify forward-looking statements. These statements including
those related to being in a large and growing market, exhibiting rapid growth
characteristics, and having a growth strategy, are forward looking statements.
These forward looking statements are only predictions and are subject to
certain risks, uncertainties and assumptions. Some of the risks, uncertainties
and assumptions that could cause actual results to differ materially from
estimates or assumptions in this press release include the risk that we will
not be able to grow our revenues and market share, the risk that our prices do
not remain competitive and the risk that we will not achieve profitability.
Additional risks are identified and described in the Company's public filings
with the Securities and Exchange Commission, including our most recent Report
on Form 10-KSB, and Reports on Form 10-QSB and Form 8-K. Statements made
herein are as of the date of this press release and should not be relied upon
as of any subsequent date. The Company's past performance is not necessarily
indicative of its future performance. The Company does not undertake, and the
Company specifically disclaims, any obligation to update any forward-looking
statements to reflect occurrences, developments, events, or circumstances
after the date of such statement.
Contact:
Paul Knopick
E&E Communications
(949) 707-5365
pknopick@eandecommunications.com

SOURCE CalbaTech, Inc.

Paul Knopick of E&E Communications, +1-949-707-5365,
knopick@eandecommunications.com, for CalbaTech, Inc.