Mr. Norman Tsui reports

AVAGENESIS ANNOUNCES ADVISOR AND PRIVATE PLACEMENT TO BIOLASCO'S COLIN CHEN

Avagenesis Corp. has appointed Colin Chen, chairman and chief executive officer of BioLASCO Taiwan Co. Ltd., as an adviser. Mr. Chen will also complete a non-brokered private placement of $100,000 (U.S.) for Avagenesis common shares at a price of 25 cents per share.

"Avagenesis has an innovative cell bioprocessing system that will revolutionize and standardize the processing and study of important adipose tissue cell populations that are under intensive academic and clinical research in stem cell biology, medicine and cell therapy globally," stated Mr. Chen. "I am pleased to assist with Avagenesis and to connect them with the top medical thought leaders for stem cell translational medicine in Asia."

"We are very pleased to welcome Colin Chen as our adviser," stated Norman Tsui, chief executive officer of Avagenesis. "BioLASCO is one of the most-respected names in Asia for research animals as a technology licensee of Charles River Laboratories and also as a distributor of the Jackson Laboratory in Taiwan."

The non-brokered private placement is subject to TSX Venture Exchange final acceptance. All shares issued under the private placement are subject to a hold period expiring four months and one day from the date of issuance.

About Avagenesis

Avagenesis is a biotechnology company engaged in the commercialization of licensed cell isolation medical technologies for use in regenerative medical aesthetics, wound management and non-healing wounds, cardiovascular and heart diseases, peripheral arterial disease, critical limb ischemia or diabetic leg, hepatic disease, and kidney disease.

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