HepaLife(TM) Achieves 20-Fold Increase in Cell Production for Bioartificial Liver...

HepaLife(TM) Achieves 20-Fold Increase in Cell Production for Bioartificial Liver While Reducing Labor 4-Fold

BOSTON--(Business Wire)--
HepaLife Technologies, Inc. (OTCBB: HPLF) (FWB: HL1) (WKN:
500625), developing the first-of-its-kind bioartificial liver device
intended for the treatment of liver failure announced today
significant process improvements for cell manufacturing and storage,
important factors in cost-efficiently producing enough cell-based
liver devices for in-vivo trials, and ultimately, clinical
application.

Efficient large-scale manufacturing of HepaLife's patented PICM-19
liver stem cells is a key consideration in the operation of the
Company's bioartificial liver, since scientists anticipate that tens
of billions of cells will be needed inside the device's bioreactor
system.

"Efficient cell manufacturing protocols in combination with
improved storage capabilities provide us with important tools in
moving us towards clinical and commercial success," explained Mr.
Frank Menzler, President and CEO of HepaLife Technologies, Inc. "We
are very pleased with the enhanced production of our patented PICM-19
cells, an especially important achievement as we move towards in vivo
studies."

HepaLife researchers have achieved important cell-production
improvements including a 20-fold increase in output, and a concurrent
reduction in labor intensive cell maintenance by four-fold. The
improved cell growth process make use of FDA cGMP (U.S. Food and Drug
Administration's current Good Manufacturing Practice) compliant
technology, an important factor in allowing the Company to readily
transfer the manufacturing of its PICM-19 cells to third-party
contract manufacturers.

Using the new cell production technology, HepaLife researchers
initiated pilot production of PICM-19 cells, which showed desirable
liver function characteristics such as ammonia utilization, urea
production rates and drug detoxification activities. HepaLife
researchers hope to further optimize cryopreservation protocols for
these cells in order to provide for better storage and improved
viability when thawed for use in liver support treatment.

In ongoing tests, HepaLife's proprietary PICM-19 liver stem cells
inside the bioartificial liver have been perfused with cell culture
media, blood plasma and whole blood, an environment designed to better
mimic natural conditions for animal and human clinical trials in
preparation for anticipated in vivo studies.

Intended for the treatment of liver failure, the HepaLife(TM)
Bioartificial Liver device consists of three basic components: (1) a
plasma filter, separating the patient's blood into blood plasma and
blood cells; (2) the bioreactor, a unit filled with the patented
PICM-19 liver stem cell line which biologically mimics the liver's
function; and (3), the HepaDrive(TM), a perfusion system for pumping
the patient's plasma through the bioreactor while controlling gas
supply and temperature for best possible performance of the cells.

ABOUT HEPALIFE TECHNOLOGIES, INC.

Based in Boston, Massachusetts, HepaLife Technologies, Inc.
(OTCBB: HPLF) (FWB: HL1) (WKN: 500625) is a developer of cell-based
medical technologies addressing prevalent human health concerns.

HepaLife is developing the first-of-its-kind bioartificial liver
device intended for the treatment of liver failure using the Company's
patented PICM-19 liver stem cell line. The HepaLife(TM) bioartificial
liver, currently under development, is designed to serve as a
supportive device, either allowing the liver to regenerate upon acute
liver failure, or to bridge the patient's liver functions until a
transplant is available.

Utilizing its patented liver stem cell line PICM-19, HepaLife is
designing testing platforms to improve the pharmaceutical industry's
capability to evaluate drug toxicity and possible side-effects before
pharmaceutical compounds are commercially distributed.

Any statements contained in this press release regarding our
ongoing research and development and the results attained by us
to-date have not been evaluated by the Food and Drug Administration.

For additional information, please visit www.hepalife.com.

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http://www.hepalife.com/press_releases/20080731.html.php

Legal Notice Regarding Forward-Looking Statements

No statement herein should be considered an offer or a
solicitation of an offer for the purchase or sale of any securities.
This release contains forward-looking statements that are based upon
current expectations or beliefs, as well as a number of assumptions
about future events. Although the Company believes that the
expectations reflected in the forward-looking statements and the
assumptions upon which they are based are reasonable, it can give no
assurance that such expectations and assumptions will prove to have
been correct. Forward-looking statements, which involve assumptions
and describe our future plans, strategies, and expectations, are
generally identifiable by use of the words "may," "will," "should,"
"could," "expect," "anticipate," "estimate," "believe," "intend," or
"project" or the negative of these words or other variations on these
words or comparable terminology. The reader is cautioned not to put
undue reliance on these forward-looking statements, as these
statements are subject to numerous factors and uncertainties,
including but not limited to adverse economic conditions, intense
competition, lack of meaningful research results, entry of new
competitors and products, adverse federal, state and local government
regulation, inadequate capital, unexpected costs and operating
deficits, increases in general and administrative costs, termination
of contracts or agreements, technological obsolescence of the
Company's products, technical problems with the Company's research and
products, price increases for supplies and components, litigation and
administrative proceedings involving the Company, the possible
acquisition of new businesses or technologies that result in operating
losses or that do not perform as anticipated, unanticipated losses,
the possible fluctuation and volatility of the Company's operating
results, financial condition and stock price, losses incurred in
litigating and settling cases, dilution in the Company's ownership of
its business, adverse publicity and news coverage, inability to carry
out research, development and commercialization plans, loss or
retirement of key executives and research scientists, changes in
interest rates, inflationary factors, and other specific risks. We
currently have no commercial products intended to diagnose, treat,
prevent or cure any disease. The statements contained in this press
release regarding our on going research and development and the
results attained by us to-date have not been evaluated by the Food and
Drug Administration. There can be no assurance that further research
and development, and /or whether clinical trial results, if any, will
validate and support the results of our preliminary research and
studies. Further, there can be no assurance that the necessary
regulatory approvals will be obtained or that HepaLife will be able to
develop commercially viable products on the basis of its technologies.
In addition, other factors that could cause actual results to differ
materially are discussed in the Company's most recent Form 10-Q and
Form 10-K filings with the Securities and Exchange Commission. These
reports and filings may be inspected and copied at the Public
Reference Room maintained by the U.S. Securities & Exchange Commission
at 100 F Street, N.E., Washington, D.C. 20549. You can obtain
information about operation of the Public Reference Room by calling
the U.S. Securities & Exchange Commission at 1-800-SEC-0330. The U.S.
Securities & Exchange Commission also maintains an Internet site that
contains reports, proxy and information statements, and other
information regarding issuers that file electronically with the U.S.
Securities & Exchange Commission at http://www.sec.gov. The Company
undertakes no obligation to publicly release the results of any
revisions to these forward looking statements that may be made to
reflect the events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.

HepaLife Technologies, Inc.
Mr. Frank Menzler, President, 800-518-4879

Copyright Business Wire 2008