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Press Release
For Immediate Release
Forticell Bioscience Chief Executive Officer
Interviewed on CEOcast.com
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New York, NY -- January 31, 2008 -- Forticell Bioscience, Inc. (OTCBB: FORB), a company focused on advancing regenerative medicine through the development of cellular technology and advanced biomaterial products, announced today that its Chief Executive Officer and President Dr. Costa Papastephanou was interviewed by CEOcast.com, an online business news and investor information media outlet that posts original and syndicated streaming broadcast interviews of chief executive officers at public and private news-making companies.
During the interview, Dr. Papastephanou discussed Forticell’s anticipated entry into the $0.5 billion market for treatment of venous leg ulcers (VLUs), which could occur by July 2008 upon the pending Pre Market Application (PMA) application for its leading product, OrCel®. Studies have shown, as noted in the audio interview, that OrCel is credited with statistically significant improvements in healing as compared to the traditional standard of care for VLUs. Based on this progress, the Company intends to enter into a Phase III trial for a separate indication, diabetic foot ulcers, which would expand OrCel’s addressable market to in excess of $1 billion annually. Dr. Papastephanou further discussed in the CEOcast interview the diversification strategy that has brought two new important regenerative medicine technologies to Forticell. Following a recent announcement on the Company’s second lead product candidate, Fibrin MicroBeads (FMB™), the interview enabled Forticell’s CEO to elaborate on a new collaboration agreement with a Korean pharmaceutical giant to use FMBs for a novel umbilical cord blood stem cell recovery.
The 10-minute interview can be accessed at CEOcast’s Web site, www.CEOcast.com, and will be available through February 4, 2008.
About Forticell Bioscience, Inc.
Forticell Bioscience, Inc. (OTC BB: FORB) is focused on advancing regenerative medicine and stem cell therapy through the development and commercialization of innovative products by combining advanced cell technology and advanced biomaterials. Forticell’s lead product is OrCel® (Bilayered Cellular Matrix). Forticell’s current focus is the application of OrCel® to heal chronic and acute wounds. OrCel® is composed of a collagen sponge seeded with allogeneic epidermal and dermal cells. These cells secrete growth factors and cytokines normally found in acute human wounds and are believed to have a beneficial role in promoting tissue regeneration.
A pivotal clinical trial evaluating a cryopreserved version of OrCel® in the treatment of venous leg ulcers has been completed and a Pre Market Approval (PMA) application has been filed. Forticell has already obtained FDA approvals for use of a non-frozen version of OrCel® in the treatment of Epidermolysis Bullosa and donor sites in burn patients. In addition, the FDA has granted Forticell approval to initiate a pivotal (Phase III) trial evaluating OrCel® for the treatment of diabetic foot ulcers.
Through Forticell Bioscience’s wholly owned Hapto subsidiary, the Company is expanding its human tissue engineering capabilities with the development of two fibrin derived advanced biomaterial technologies, Fibrin MicroBeads (FMB™) and Haptides™. FMB™ has the potential to play a significant role in advancing stem cell therapy, having demonstrated the ability to efficiently recover adult stem cells and allow for their growth, differentiation, and potential reimplantation into the patient. Haptides™ utilize proprietary synthetic peptides that mimic the mechanism of cell attachment to fibrin. These peptides have demonstrated the ability to significantly enhance cell attraction and attachment providing the potential to use Haptides™ in the development of product opportunities applicable to the cosmetic tissue augmentation and reconstruction, wound healing, orthopedics, and drug delivery markets.
Additional information about Forticell Bioscience is available on the Internet at www.forticellbioscience.com.
About CEOcast.com
CEOcast.com is the premier source of original and syndicated streaming broadcast interviews of chief executive officers at public and private news-making companies. Organized by industry, its analysts average over 15 years experience covering and evaluating Wall Street's leading companies.
CEOcast's programming is distributed to millions of on-line investors at over 700 financial web sites as well as to more than 20,000 portfolio managers, buy-side analysts and traders at more than 3,300 North American institutions. Content is also disseminated to over 7,000 investment research professionals representing over 425 institutions.
This news release may contain "forward-looking statements" for the purposes of the United States Securities and Exchange Commission's "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995 and Rule 3B-6 under The Exchange Act. Without limitation, statements regarding expected FDA approvals, clinical trial results, product performance, expectations with respect to sales, gross margins, research and development expenditures, earnings per share, capital expenditures, collaborations, or other expansion opportunities would be “forward-looking statements.” These statements may be identified by words such as "expects", "anticipates", "intends", "estimates", "believes" or similar expressions in connection with any discussion of future financial and operating performance. The forward-looking statements contained herein involve risks and uncertainties that may cause results to differ materially from the Company's expectations including but not limited to, global economic trends, competitive pricing or product developments, government legislation and/or regulations, technology, manufacturing, legal and patent issues, suppliers, capital availability, personnel changes, cancellation or delays in renewal of contracts, and lack of suitable raw materials or packaging materials. Investors are cautioned to review risk factors in the Company's filings with the United States Securities and Exchange Commission.
FOR MORE INFORMATION, PLEASE CONTACT
At the Company: ir@ortecinternational.com
Ortec's Investor Relations Firm: Jordan Darrow at jdarrow@DarrowIR.com or 631-367-1866
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