CALGARY, ALBERTA--(Marketwire - October 12, 2010) - Stem Cell Therapeutics Corp. ("SCT" or the "Company") (TSX VENTURE: SSS) is pleased to announce that the company has recently received a request for a "full program proposal" for the NTx®-265 program in Traumatic Brain Injury (TBI). A pre-proposal submitted earlier for the Combat Casualty Program entitled "Regenerative Recovery After Traumatic Brain Injury" has been reviewed by the US Department of Defense and was deemed "of interest".
The Traumatic Brain Injury program is of high importance to the US Department of Defense. It has been estimated that the total numbers of soldiers afflicted with TBI is in excess of 135,000 veterans of the Iraq and Afghanistan wars, with approximately 5000 troops suffering moderate to severe head trauma. TBI within North America is even more prevalent with an estimate of more than 1.5 million injuries per year, which includes an estimated 90,000 to 100,000 people who experience the onset of long-term disability.
Dr. Allen Davidoff, Vice President, Product Development of SCT stated "We are pleased that ongoing interactions and discussions with the US Department of the Defense have resulted in a request for a full proposal in support of the NTx®-265 program in TBI. While we have no guarantee of success, this request is an encouraging step forward for a program that is desperately needed by patients who have little therapeutic options following this form debilitating injury. "
As stated previously, the Company continues to advance as a biotech company considering a range of options, with management focusing its efforts on pursuing the end-of-Phase II meeting with the FDA for the NTx®-265 stroke therapy, developing a similar regimen for traumatic brain injury ( TBI) while reviewing alternatives for pursuing multiple sclerosis ("MS") , as well as various other opportunities.
About Stem Cell Therapeutics Corp.: Stem Cell Therapeutics Corp. is a public biotechnology company (TSX VENTURE: SSS) focused on the development and commercialization of drug-based therapies to treat central nervous system diseases. SCT is a leader in the development of therapies that utilize drugs to stimulate a patient's own resident stem cells. The Company's programs aim to repair brain and nerve function lost due to disease or injury. The Company's extensive patent portfolio of owned and licensed intellectual property supports the potential expansion into future clinical programs in numerous neurological diseases such as traumatic brain injury, multiple sclerosis, Huntington's disease, Alzheimer's disease, and ALS.
These securities have not been registered under the United States Securities Act of 1933, as amended, or the securities laws of any state, and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons unless an applicable exemption from U.S. registration requirements is available.
Except for historical information, this press release may contain forward-looking statements, which reflect the Company's current expectation regarding future events. These forward-looking statements involve risk and uncertainties, which may cause but are not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process and other risks detailed from time to time in the Company's ongoing quarterly and annual reporting.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.