TAMPA, FL--(Marketwire - September 25, 2009) - Stem Cell Therapy International, Inc. (OTCBB: SCII) is proud to announce the execution of the Reorganization and Stock
Purchase Agreement ("the Agreement") with Histostem Co., Ltd., a Korean
company ("Histostem" and together with SCII, "the parties"). This results
in one of the first fully merged Pacific Rim stem cell companies and cord
blood repositories with a U.S. entity. Following the execution of the
Agreement, AmStem International, Inc. ("AmStem") -- a wholly owned
subsidiary of SCII -- will be managing the U.S. operations of Histostem.
David Stark, SCII President and CEO, has been working closely with
Histostem's management to finalize the Agreement, and is now working to
secure the supply channels that will strengthen the Company's cash flow.
Immediate plans include launching a worldwide distribution of existing
cosmetic products, including a unique stem cell facial cream. Additional
revenue is expected from the development of proprietary technologies from
Dr. Han Hoon, CEO of Histostem, who will be working together with AmStem to
bring new products to the U.S. and E.U. markets as soon as possible.
Highlights of Histostem include:
-- Histostem has the one of the world's largest, fully accredited
repository of cord blood units (CBUs) and stem cells in the world (more
than twice as large as its nearest competitor); with over 80,000 CBUs ready
for immediate transfer. (See more details on Histostem below.)
-- Histostem is the only company in the world to have full KFDA approval
to use its cord blood derived stem cells directly for the treatment of
disease. Clinical trials have been in progress for over 2 years to treat
diseases such as Buerger's, Alzheimer's and Parkinson's, as well as
Diabetes Mellitus, Hair Loss and ALS.
-- Histostem has successfully developed a popular stem cell facial cream
for the rejuvenation of skin, which is ready for worldwide distribution.
"The response to our stem cell cream has been extremely positive," states
Mr. Stark, "and because we have a proven market presence in Asia,
proprietary supply chain, GMP-approved manufacturing facility, and some
very promising study results, we are ready to partner with a major
distributor right now."
Clinical trials will be upgraded immediately, leveraged by the vast
experience of Mr. Stark and his colleagues, who have a combined 30 years'
experience in international regulatory affairs. New and improved trials
will be run in South Korea by AmStem; under strict guidance of the KFDA,
and in adherence to ICH guidelines, as part of a 2-year plan to validate
earlier, successful outcomes in Histostem trials.
"We are absolutely thrilled and bursting with pride to have persevered in
finalizing this Agreement with Histostem," adds Mr. Stark. "The quality of
the science, market-ready products and meticulous quality control values of
Histostem will catapult us into the forefront of the international stem
cell marketplace. Our Korean partners are some of the most well-respected
scientists in the field," he declares.
Andrew Norstrud, CFO, announces, "This is the first step in the completion
of merging these two companies. We will now begin an aggressive investor
awareness campaign to enlighten our current and potential investors about
the unique opportunity that this merged company has to offer. We believe
that we are well positioned in the market to quickly increase our combined
world-wide revenue with new stem cell based cosmetic products and the
supply of stem cells for research. With the appropriate level of capital,
we expect to make significant progress on our research and development
objectives for future stem cell applications."
Additional development of Histostem technology by AmStem will include
ensuring that their vast stockpile of CBUs is available to patients in need
around the world. "We will be making inroads to pool our accredited cord
blood bank with other international repositories to facilitate the use of
the CBUs by patients in the fastest, most accurate way possible," Mr. Stark
About Stem Cell Therapy International, Inc.
SCII is in the field of regenerative medicine. SCII 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
About AmStem International, Inc.
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
About Histostem Corporation, Ltd.:
Histostem Began in Seoul, Korea in 2000. To date it has treated more than
500 patients with stem cells and currently has 56 full-time employees and
28 part-time employees. Histostem's intellectual property portfolio
consists of five patents that have been granted and 6 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).
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