"Cellerant is pleased to be working with Progenitor Cell Therapy for the manufacture of our first product, CLT-001, a highly purified hematopoietic stem cell product for the treatment of genetic blood disorders, cancer, and autoimmune disease," said Bruce Cohen, President & CEO of Cellerant. "PCT’s cell-based manufacturing and regulatory expertise should allow us to move quickly towards our goal of treating patients in 2006."

PCT has spent the last year collaborating with Cellerant on strategies related to the pre-clinical development of this product, including process development, regulatory compliance, and scale up models.

"We have enjoyed a strong relationship with Cellerant and are truly excited to be involved in bringing this product to market," said Dr. Robert Preti, PCT’s President & Chief Scientific Officer. "The collaboration with Cellerant complements PCT’s growing portfolio of clients and is evidence of the pivotal role PCT is committed to playing in bringing several early cell therapies to market in the coming months. PCT plans to immediately expand both its New Jersey and California facilities and is eyeing other expansion opportunities to meet the demand and needs of our clients."

About Progenitor Cell Therapy, LLC

Progenitor Cell Therapy is a client-based cell engineering company that supports the development of cellular therapies by providing cGMP-compliant cell manufacturing and manufacturing consulting services that address regulatory, financial, technical, process, and quality systems strategies. PCT’s cG(x)P nationwide network enables it to provide a full spectrum of support including preclinical development, clinical research, collection, processing, tissue storage, diagnostics/biologic product testing, manufacturing, distribution and transportation. For more information, please visit www.progenitorcelltherapy.com.

About Cellerant Therapeutics

Cellerant Therapeutics Inc. (www.cellerant.com) is developing and commercializing the use of hematopoietic (blood-forming) stem cell-based therapies for the curative treatment of a variety of cancers, genetic blood disorders and autoimmune diseases. The company’s extensive portfolio of intellectual property and clinical assets is licensed from Novartis and Stanford University.