HepaLife™ Enters Into New Cooperative Research and Development Agreement with U.S. Government Agency

Boston, MA – November 27, 2007 - HepaLife Technologies, Inc. (OTCBB: HPLF) (FWB: HL1) (WKN: 500625) today announced that the Company has entered into a new Cooperative Research and Development Agreement (CRADA) with the U.S. Department of Agriculture, Agricultural Research Service (USDA, ARS) for further optimization of HepaLife’s PICM-19 liver stem cell line for application in the first-of-its-kind bioartificial liver device.

Incorporating the PICM-19 cell line, HepaLife is developing the first-of-its-kind bioartificial liver. HepaLife's bioartificial liver, currently under development, is designed to operate outside the patient's body. The bioartificial liver is envisioned to mimic important functions of the human liver by circulating the patient's blood inside the device, where it is exposed to HepaLife's PICM-19 liver stem cells, thus processing the patient's blood-plasma by removing toxins, enhancing metabolic function, and ultimately, imitating the liver's natural function.

“The execution of our new CRADA and the announcement of our exclusive worldwide PICM-19 license agreement with the USDA earlier this month, together mark important objectives for HepaLife and for the development of our bioartificial liver device,” stated Mr. Frank Menzler, President and CEO of HepaLife. “We continue to achieve the goals set in our business plan, both from a corporate and scientific perspective, and are moving closer to initial in-vivo trials.”

Intended for the treatment of liver failure, the HepaLife™ 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 PICM-19 cells which biologically mimic the liver’s function; and (3), the HepaDrive™, 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.

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

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 methods for the manufacture of vaccines against H5N1 avian influenza and other viruses.

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