October 22, 2009 (FinancialWire) — Entest BioMedical Inc. (OTCBB: ENTB) (Current Market Cap: $4.03 Mil.) said it has signed a letter of intent to acquire Therinject LLC., a UK-based firm engaged in cancer research, marker testing and development, and “bead” formation used in vaccine development.

company chairman David Koos said that Entest BioMedical has already established a joint venture with Therinject and Bio-Matrix Scientific Group (OTCBB: BMSN), the majority owner of Entest. Of the acquisition, he said, “I believe this is an obvious natural fit and removes any potential conflicts between each company’s goals.”

Once a definitive agreement is in place, Therinject will become a wholly owned subsidiary of Entest BioMedical. The transaction is subject to reaching final agreement on terms and conditions.

San Diego-based Entest BioMedical is a majority owned subsidiary of Bio-Matrix Scientific Group. The company is involved with the development of stem cell therapy treatments for chronic obstructive pulmonary disease, immuno-cancer therapies, testing procedures for diabetes, stem cell research applications for diabetes and other illnesses.

The company also is involved with medical device development, including stem cell extraction instrumentation.

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