IRVINE, Calif., July 15, 2004 (PRIMEZONE) -- BioGentech Corp. (OTCBB:BGTH) announced today that, effective July 8, the company has changed its name to Cobalis Corp. (OTCBB:CBSC) to reflect its transformation to a pharmaceutical company focused on over-the-counter anti-allergy medications. The company will continue to be listed on the OTC Bulletin Board. Its trading symbol has changed to CBSC effective with the start of trading on Thursday July 8, 2004. The company's new website is www.cobalis.com.
About Cobalis Corp. - PreHistin(TM)
Headquartered in Irvine, California, Cobalis Corp. is an over-the-counter pharmaceutical company. Its flagship product, PreHistin, designed to prevent the primary cause of airborne allergies, is scheduled for Phase III clinical trials in Q4 of 2004 and initial marketing in the U.S. will commence upon final FDA marketing approval. The U.S. anti-allergy medication market was $7.2 billion in 2003 and is expected to exceed $10 billion by 2010. Prior studies have shown that the active ingredient in PreHistin appears to have essentially no risks of adverse effects to the general population, including sedation and drowsiness found in many of the allergy products currently available.
For further information please visit the website at www.cobalis.com.
SAFE HARBOR STATEMENT
This news release includes statements that are not historical facts and are considered "forward-looking" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect BioGentech Corp's current views about future events. They are identified by their use of terms and phrases such as "believe," "expect," "plan," "anticipate," "possibility" and similar expressions identifying their forward-looking character. Investors should not rely on these forward-looking statements as assurances of future events, because such statements are inherently subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from the Company's expectations. The factors that may affect the outcome of such expectations include, but are not limited to factors detailed from time to time in the Company's filings with the Securities and Exchange Commission.