News Release

LOS ANGELES--(BUSINESS WIRE)--Moraga Biotechnology Corporation, an adult stem cell company based in Los Angeles, California, announces the licensing of its blood-derived Blastomere-Like Stem Cells (BLSCs) with Pharmacells, Ltd. headquartered in Glasgow, Scotland. The licensing agreement provides Pharmacells access to Moraga's proprietary adult stem cell technology for banking its BLSCs that have been isolated, processed, and cryopreserved from the blood of individuals. Moraga's scientists have found that its BLSCS are able to differentiate into most tissues and organs of the body.

Moraga's chief executive, Dr. John F. Wong, noted: "We are very pleased to have Pharmacells as our business partner to advance the Company's adult stem technology in the United Kingdom and Ireland. With Pharmacells, we believe we can continue to expand the use of our stem cell technology to other countries within the Europe Union in the very near future."

Pharmacells' Managing Partner, Neil R. Fell, MBChB B.Med.Sci, added: "We are very pleased to have been allowed the opportunity to utilize the amazing work of Moraga Biotechnology Corp. in the European marketplace. The potential for their proprietary technology is immense, and together with Moraga we are certain that we will be able to make significant progress and introduce BLSCs as a new and better way to research and use adult stem cells." Dr. Fell also believes that Moraga's BLSCs, which will be banked in their facility, can be used in the clinic for treating a plethora of human diseases such as heart attacks, chronic obstruction pulmonary disease, Parkinson's disease and stroke in the near future."

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