BioE Wins 2006 Tekne Award for "Remarkable" Stem Cell Advancements and "Smart Business Model".

Award program honors companies, innovations and individuals that positively impact Minnesota's technology-based economy

ST. PAUL, Minn. -- BioE([R]), Inc., a biomedical company providing human umbilical cord blood stem cells as enabling, high-quality cellular tools for drug discovery and therapeutic research, announced today it won a 2006 Tekne Award for its "remarkable" stem cell advancements with the company's rare Multi-Lineage Progenitor Cell([TM]) (MLPC([TM])) derived from human umbilical cord blood. The Tekne selection committee also distinguished BioE for its "smart business model for today's stem cell research technology."

The Minnesota Tekne Awards have been held annually since 2000 and honor companies, innovations and individuals that positively impact Minnesota's technology-based economy. The Minnesota High Tech Association (MHTA) and Minnesota Technology, Inc., in partnership with LifeScience Alley, present the Tekne Awards. BioE was recognized in the "Emerging Biotechnology" category.

"Because our state is privileged to serve as a home to many leading high-tech companies, it's an honor to be singled out and named a Tekne Award winner," said Kate Rubin, president of MHTA. "We are proud to acknowledge BioE for its exciting work with cord blood stem cells, and look forward to seeing the company continue to grow and help further establish Minnesota as a national and global hotbed of scientific discovery and innovation."

The MLPC is a unique stem cell that was discovered and commercialized by BioE and has shown the capacity to turn into multiple cell and tissue types Co including neural stem cells, nerve cells, lung cells, early stage liver and pancreas cells, skeletal muscle, fat cells, bone cells, and blood vessels. Since July 2005, BioE has licensed its MLPC to more than 80 academic research institutions, corporate laboratories and pharmaceutical organizations located around the world for stem cell and regenerative medicine research and drug development.

"We are thrilled to receive a 2006 Tekne Award," said Michael Haider, president and chief executive officer for BioE. "The stem cell industry is rapidly taking shape and recognition like this helps further solidify our burgeoning leadership position. We've had a banner year already in 2006 thanks to the tremendous efforts of our employees, research collaborators and partners. Next year also looks very promising, as we continue to take ownership of an entirely new category of highly functional cord blood stem cells and capitalize on a variety of diverse business opportunities."

For more information about the Tekne Awards, visit www.tekneawards.org.

About BioE

Headquartered in St. Paul, Minn., BioE is a biomedical company providing human cord blood stem cells as enabling, high-quality cellular tools for drug discovery and therapeutic research. The company's novel Multi-Lineage Progenitor Cell([TM]) (MLPC([TM])) Co derived from human umbilical cord blood and obtained using PrepaCyte([R]), the company's proprietary cell isolation platform Co provides clinicians and researchers a flexible, long-term and non-controversial tool for therapeutic research and drug discovery and screening. BioE is privately owned and was founded in 1993. For more information about the company, please visit www.bioe.com or call [phone].

About MTI 

Minnesota Technology, Inc. (MTI) helps drive the small to mid-size manufacturing sector by selling greater efficiency tools, productivity and growth solutions, and cutting edge information at competitive rates. MTI operates as a private 501(C)3 organization, collaborating with the federal government, to provide a public service that stimulates business and economic development in Minnesota's manufacturing sector. MTI's staff are competent, trained professionals with expertise in leading edge productivity tools and growth solutions, committed to making Minnesota a stronger player in the global manufacturing matrix.

About MHTA

The Minnesota High Tech Association accelerates the growth, sustainability and global competitiveness of Minnesota's technology-based economy through public policy advocacy, member collaboration and education, and community outreach. MHTA is the only membership organization that represents Minnesota's entire technology-based economy. MHTA members include organizations of every size Co involved in virtually every aspect of technology creation, production, application and education in Minnesota. MHTA works in partnership with AeA, which represents Minnesota's technology organizations nationally. More information on the MHTA can be found at www.mhta.org.