EWING, N.J., May 1 /PRNewswire/ -- StemCyte Inc. today announced that it has located its East Coast operations in Ewing, N.J.
The move, which was supported by a Business Employment Incentive Program (BEIP) grant through the New Jersey Economic Development Authority, puts StemCyte's executives in close proximity to one of the company's collaborators: world-renowned spinal cord injury researcher Wise Young, M.D., Ph.D., at Rutgers University.
"The research being done by Dr. Young at Rutgers is top-notch," said Kenneth J. Giacin, chairman and chief executive officer of StemCyte. "In addition, Governor Corzine's plan for developing New Jersey as an active hub for stem cell research and therapeutics development was an important reason for our decision to move our East Coast operations to the state. We're pleased to become an integral part of New Jersey's life sciences community with our focus on therapies derived from umbilical cord blood."
In addition to the New Jersey location, StemCyte's operations are in California and Taiwan. The company is also developing StemCyte India Therapeutics in collaboration with Apollo Hospitals and Cadila Pharmaceuticals.
About StemCyte Inc.
StemCyte Inc. is a global cell therapy company with a focus on umbilical cord blood stem cells. Since 2001, the company's stem cell products have been used to successfully treat more than 600 patients suffering from life- threatening diseases and conditions. StemCyte also has a leadership position in the development of new cell therapies in high growth areas with the greatest clinical need. The company is accredited by AABB (formerly the American Association of Blood Banks) and Foundation for the Accreditation of Cellular Therapy (FACT). For more information, visit www.stemcyte.com.
CONTACT: Ian Stone, +1-619-814-3510, ian.stone@russopartnersllc.com, or
David Schull, +1-212-845-4271, david.schull@russopartnersllc.com, both of
Russo Partners LLC, for StemCyte Inc.
Web site: http://www.stemcyte.com/