
HepaLife Expands Management Team on Heels
of Favorable Outcomes of First-of-its-Kind Bioartificial Liver
Device.
HepaLife appoints Dr. Robert Tuttle as
Vice President of Research and Development, a pioneering cell and
tissue culture biologist, with three FDA approved human therapeutics
and seven in clinical trials
Boston, MA – May 8, 2007 – HepaLife
Technologies, Inc. (OTCBB: HPLF) (FWB: HL1) (WKN: 500625) is pleased
to announce the addition of Dr. Robert Tuttle as Vice President of
Research and Development, to assist the Company with development
of the first-of-its-kind bioartificial liver device, which, in recent
weeks, has mimicked key functions of the liver, and surpassed major
cell biology and biomechanical milestones.
“I’m honored to welcome Dr. Tuttle as
Vice President of Research and Development,” commented Mr.
Frank Menzler, President and CEO of HepaLife Technologies, Inc.
“Dr. Tuttle’s appointment follows important research and development
successes at HepaLife, prompting the expansion of our scientific and management
capabilities.”
Last week, HepaLife announced favorable early test
results of the Company’s proprietary bioreactor system, the
main mechanical component of its patented bioartificial liver device,
which successfully replicated the liver’s key function – removal
of toxic ammonia and synthesis of urea. Researchers consider
this ability vital to successfully replicating the human liver’s
function in an artificial liver device.
(View HepaLife’s April 30, 2007 press release,
announcing HepaLife achieves major milestone in development of artificial
liver device:
http://www.hepalife.com/20070430-1.html.php )
In early tests of HepaLife’s proprietary bioreactor,
researchers seeded the system with the Company’s patented PICM-19
liver cells, which last month, significantly outperformed the world’s
most widely-used human liver cell line and successfully mimicked
the liver’s key metabolic functions.
(View HepaLife’s April 10, 2007 press release
and photographs: PICM-19 cells mimic human liver’s responses,
and significantly outperform world’s most widely-used liver
cell line:
http://www.hepalife.com/20070410-1.html.php)
“The early performance success of our proprietary
bioreactor system follows highly-favorable research findings of HepaLife’s
patented PICM-19 liver cell line,” explained
Mr. Menzler. “Together, these excellent outcomes of our
cell line and bioreactor system mark significant achievements for
HepaLife’s bioartificial liver device, currently under development.
“I look forward to leveraging Dr. Robert Tuttle’s
extensive research knowledge and practical commercial expertise,
as we fully exploit these most important biological and mechanical
milestones in development of the world’s first-of-its-kind
bioartificial liver device.”
Robert Tuttle, Ph.D.
With three FDA approved human therapeutics and seven
in clinical trials, Dr. Robert Tuttle is widely regarded as an innovative,
pioneering cell and tissue culture biologist, with over 25 years
of scientific research and commercial development experience.
Earlier this year, Dr. Tuttle joined HepaLife’s
Scientific Advisory Board, providing important guidance on the Company’s
primary research and development projects. As Vice President
of Research and Development at HepaLife, Dr. Robert Tuttle will devote
his efforts to HepaLife on a part-time permanent basis as
of May, 2007, undertaking key initiatives for scale-up and further
development of the Company’s patented cell lines:
- PBS-1 cell line for potential use in influenza vaccine production;
and,
- PICM-19 liver cell line for use in in-vitro toxicology testing
platforms and incorporation into the first-of-its-kind bioartificial
liver device.
Previously, Dr. Tuttle served as Vice President
Manufacturing for Genetix Pharmaceuticals, where he successfully
led the cGMP manufacturing of the first clinical recombinant Lentivirus
biologic for hemophilia gene therapy.
Between 2000 through 2004, Dr. Robert Tuttle performed
pioneering research in the Biodefense Medical Systems Department
of the Battelle Memorial Institute. Among significant research
achievements during his tenure at Battelle, Dr. Tuttle successfully
invented and patented an avian coccidiosis vaccine, and further invented
the production process for a new, better, safer recombinant anthrax
protective vaccine.
Dr. Robert Tuttle also served as the Director of
Biologics for Novopharm Biotech between 1997 and 2000, during which
time he invented processes to manufacture second entry biologics
(Bio-Generics) such as TPA and EPO and a new, better formulation
of paclitaxel (Taxol®) for first line cancer therapy. Taxol® is
the first anti-cancer agent to surpass $500 million in US sales,
and since FDA approval, has generated over $10 billion in revenues.
While at Immunomedics and Cytogen between 1991 and
1996, Dr. Robert Tuttle scaled up and manufactured six of the first
clinical monoclonal antibodies for in vivo colorectal, prostate
and lymphoma cancer imaging and therapies. Earlier in his career,
Dr. Tuttle directed manufacture and modernization of the commercial
plasma proteins at CSL in Kankakee, Illinois, including the invention
of much-needed PCR-grade albumin, and scaled up the first FDA-approved
tissue engineered living skin equivalent at Organogenesis in Cambridge,
Massachusetts.
ABOUT HEPALIFE TECHNOLOGIES, INC.
HepaLife Technologies, Inc. (OTCBB: HPLF - News;
FWB: HL1) (WKN: 500625) is a biotechnology company focused on the
identification and development of cell-based technologies and products.
Current cell-based technologies under development
by HepaLife include 1) the first-of-its-kind artificial liver device,
2) proprietary in-vitro toxicology and pre-clinical drug testing
platforms, and 3) novel cell-culture based vaccine production to
protect against the spread of influenza viruses among humans, including
potentially the high pathogenicity H5N1 virus.
For additional information, please visit www.hepalife.com.
To receive future press releases via email, please
visit:
http://www.hepalife.com/investor-alerts.php
To view the full HTML text of this release, please
visit:
http://www.hepalife.com/20070508-1.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 makes no commitment 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.
|