Insception Succeeds in Bid for Lifebank and Now Owns 91.32% of Outstanding Common Shares

Insception Biosciences Inc. and Lifebank Corp. (TSX VENTURE:LBK) announced today
that Insception has been successful in its bid to acquire Lifebank under its
previously announced offer. A total of 10,330,941 common shares in the capital
of Lifebank were validly deposited at the expiry time of the offer. Insception
now owns a total of 10,330,941 common shares in the capital of Lifebank. At the
time of the close of the offer, this represented approximately 91.32% of
Lifebank's issued and outstanding common shares on a fully-diluted basis.


Insception has taken up these shares and payment for such deposited shares will
be made on or before September 28, 2012. Insception will pay the offered
consideration of $0.495 in cash per share in respect of taking up the those
shares validly deposited at the expiry time of the offer.


Insception now intends to acquire all of the remaining shares by compulsory
acquisition. Upon completion of the compulsory acquisition, Insception intends
to de-list the Lifebank shares from the TSX Venture Exchange. Shareholders are
encouraged to tender their remaining Lifebank shares to the offer as soon as
possible to receive prompt payment.


About Insception

Insception is the largest cord blood program in Canada, with over 39,000 cord
blood units banked. Insception is a private company owned by Argosy Partners,
Mount Sinai Hospital, management and its scientific founders. By continuing to
partner with leading Canadian medical facilities such as Toronto's Mount Sinai
Hospital, the Insception Cord Blood Program is able to provide every Canadian
family with security, state of the art processing and storage, financial
stability and long term professional governance. For more information, visit
www.insception.com.


About Lifebank

Started in 1996, Lifebank is a leading national company in the biomedical field
based at the British Columbia Institute of Technology campus in Burnaby, British
Columbia. Lifebank provides processing and cryogenic storage of umbilical cord
blood stem cells for families in Canada and worldwide. With proven quality
systems, Lifebank provides informed parents with the comfort that their
children's cord blood stem cells are processed and stored by an experienced,
professional and dedicated organization. Lifebank's website can be found at
www.lifebank.com.


Other Information

Certain statements made herein are forward-looking statements that involve risks
and uncertainties. Often, but not always, forward looking statements can be
identified by the use of words such as "plans", "expects", "expected",
"scheduled", "estimates", "intends", "anticipates", or "believes", or variations
of such words and phrases, or state that certain actions, events or results
"may", "could", "would", "might" or "will" be taken, occur or be achieved. These
forward-looking statements reflect Insceptions's and Lifebank's best judgment
based on current information, factors and assumptions, and although the parties
base these statements on circumstances that they believe to be reasonable when
made, there can be no assurance that future events will not affect the accuracy
of such forward-looking information. As such, the forward-looking statements are
not guarantees of future performance or actions, and actual performance and
actions may vary materially from the actions and expectations discussed in this
press release.


Each of Insception and Lifebank disclaims any intention or obligation to update
or revise any forward-looking statements whether as a result of new information,
future events or otherwise, or to explain any material difference between
subsequent actual events and such forward-looking statements, except to the
extent required by applicable law.


This news release does not constitute an offer to buy or an invitation to sell,
or the solicitation of an offer to buy or invitation to sell, any of the
securities of Lifebank. Such an offer may only be made pursuant to an offer and
take-over bid circular filed with the securities regulatory authorities in
Canada.


Insception has filed an offer and take-over bid circular and Lifebank has filed
a directors' circular with Canadian provincial securities regulators. Investors
and security holders are urged to read the offer and take-over bid circular and
directors' circular regarding the proposed transaction referred to in these
documents because they contain important information. Investors may obtain a
free copy of the offer and take-over bid circular, directors' circular and other
documents filed by Insception and Lifebank with the Canadian provincial
securities regulators on Lifebank's company profile on SEDAR at www.sedar.com.