TAMPA, FL--(Marketwire - December 01, 2009) - Stem Cell Therapy International Inc. (OTCBB: SCII) announced that it has signed an agreement with Histostem Ltd. of
South Korea ("Histostem"), for the exclusive, worldwide rights to the
distribution of the Company's existing SteMixx line of stem cell based
cosmetic products, as well as future products under development.
Previously available for purchase only in Korea, SteMixx received approval
last month from the Korean FDA as an effective cosmetic for the treatment
of aging skin. Stem Cell Therapy International will seek similar product
validations from regulatory agencies in the United States and Europe and
expects to begin distributing SteMixx products in the United States in
early 2010.
David Stark, President and CEO of SCII, commented, "This distribution
agreement, combined with the Korean FDA's approval of product labeling, is
an extremely favorable development in our Business Plan. This is an
important building block that enables Stem Cell and Histostem to
confidently move forward with international opportunities to grow the
business in advance of the final closing of our merger. The worldwide
cosmeceutical market is estimated at $21 billion, and SteMixx is an
established cosmetic product now validated by the Korean FDA for an
extremely lucrative segment of that market. We look forward to introducing
SteMixx in other markets around the world."
Andrew J. Norstrud, Chief Financial Officer of Stem Cell, added, "This
agreement provides us with the opportunity to validate the effectiveness of
SteMixx according to accepted international standards and we believe our
team's combined 30 years experience in international regulatory affairs
positions us well to create protocols for the study of this product that
will meet the rigorous certification criteria of the U.S. and European
regulatory agencies. We intend to study the active ingredients of SteMixx
with the goal of developing a line of products that best utilizes its
proprietary agents. Our involvement as the exclusive distributor of
SteMixx adds to the momentum created by the recent approval of Histostem
patents in the U.S. and E.U. and we expect to finalize our merger in the
near term."
In October of this year, Histostem received a U.S. patent for the isolation
of stem cells for therapy, a method central to obtaining one of the primary
ingredients for the development and manufacturing of the SteMixx facial
cream, as well as for previous and anticipated future clinical trials of
stem cell therapies. Histostem also received an E.U. patent for the
isolation of stem cells from live media, the first patent ever awarded for
this unique method. The patented method is used to isolate stem cells
directly from a freshly donated cord blood sample, greatly enhancing the
immediacy and point-of-care possibilities for patients seeking treatment
with stem cells derived from a non-controversial source.
David Stark added, "We are currently evaluating the optimal distributing
partners for SteMixx, which is expected to be a high-end luxury brand sold
through department stores and other superior retail venues."
About Stem Cell Therapy International, Inc.
Stem Cell Therapy International, Inc. (OTCBB: SCII) is in the field of
regenerative medicine. SCII (soon to have its name changed to AmStem
Corporation) is a company devoted to the treatment of patients with stem
cell transplantation therapy as well as providing the supplies of
biological solutions containing new lines of stem cell products.
About AmStem International Corporation
AmStem is a new biotechnology company based in Northern California, in the
watershed of stem cell innovation fueled by President Obama's recent
announcement to lift Federal funding limitations for stem cell research.
AmStem provides biotherapeutic and cosmetic stem cell products, stem cell
collection and storage know-how, and access to nanotechnology vital to
cutting edge stem cell research. Its web site is under construction at
www.amsteminc.com.
About Histostem Co. Ltd.
Histostem was founded in Seoul, Korea in 2000, to date it has treated more
than 500 patients with stem cells and currently has approximately 50
full-time employees and several part-time employees. Histostem's
intellectual property portfolio consists of 6 patents that have been
granted and 5 patents pending. To its knowledge Histostem is one of the
very few stem cell companies in the world currently earning several million
dollars in income from its products and technology. A comprehensive list of
Histostem's achievements can be found at the company's website
http://www.histostem.co.kr (click on English version when entering the
site).
About the Pending Stock Purchase and Reorganization
On November 2, 2009, Stem Cell Therapy International Inc., filed with the
Security and Exchange Commission (SEC) an informational statement related
to the change in articles of incorporation of the Company to effect an
increase of the number of authorized shares of common stock to five hundred
million (500,000,000) shares and change the name to AmStem Corporation.
This is the most time consuming pre-closing criteria for the completion of
the Reorganization and Stock Purchase agreement as filed with the SEC on
September 25, 2009. Management expects that all of the pre-closing
requirements will be completed by the beginning of December and the close
of the stock purchase and reorganization agreement will occur prior to the
end of the year.
Forward-Looking Statements
Some of the statements included in this press release, particularly those
anticipating future clinical and business prospects for Stem Cell Therapy
International, Inc., may be forward-looking statements that involve a
number of risks and uncertainties. For those statements, we claim the
protection of the safe harbor for forward-looking statements contained in
the Private Securities Litigation Reform Act of 1995. Among the factors
that could cause our actual results to differ materially are the following:
our ability to obtain necessary capital, our ability to successfully
complete the merger, successfully complete clinical trials; our ability to
meet anticipated development timelines, our ability to establish global
market for the cord blood cells, clinical trial results, successfully
consummate future acquisitions, manufacturing capabilities or other
factors; and other risk factors identified from time to time in our reports
filed with the Securities and Exchange Commission. Any forward-looking
statements set forth in this press release speak only as of the date of
this press release. We do not intend to update any of these forward-looking
statements to reflect events or circumstances that occur after the date
hereof.
