CALGARY, Jan. 9 /PRNewswire-FirstCall/ - Stem Cell Therapeutics Corp (“SCT”) will be presenting an open house public update on Friday January 20, 2006 to provide a company overview of SCT’s progress since its IPO in January of 2005. This review, to be presented by Dr. Joseph Tucker, President and CEO, will discuss SCT’s past and current research and development efforts, as well as the Phase I clinical study in the NTx(TM)-265 stroke program. Included in this discussion will be future plans to administer NTx(TM)-265 to stroke patients in a Phase II study and overall developmental timelines will also be highlighted.
This update will be held on January 20, 2006 at the Sheraton Suites Eau Claire in Calgary, Alberta. The presentation will commence at 12:00 pm MST in the Willow Room. All interested investors, analysts and industry professionals are encouraged to attend. As seating is limited please RSVP to ir@stemcellthera.com by Friday January 13, 2006.
In addition, SCT is pleased to announce the appointment of Mr. Ian S. Brown as a member of its Board of Directors. Mr. Brown is currently an independent businessman with extensive financial and capital markets experience. Mr. Brown presently serves on several boards of both public and private companies.
“We are delighted that Mr. Brown has decided to join SCT’s Board of Directors,” said Dr. Tucker. “Mr. Brown brings a wealth of business knowledge to our team and his substantial experience and expertise will complement our aggressive development objectives.”
With the appointment, the company has granted Mr. Brown 175,000 stock options at the price of CAD$0.25. The granting of options is subject to approval by the TSX-Venture Exchange. The options were awarded in accordance with the Stock Option Plan approved by Shareholders at SCT’s Annual General Meeting held May 10, 2005 and by the TSX-Venture Exchange on May 18, 2005.
About Stem Cell Therapeutics Corp.: Stem Cell Therapeutics Corp. is a biotechnology company focused on the development of its technology platform and intellectual property to selectively induce a patient’s own stem cells to proliferate in the brain. SCT’s core technology, which includes its lead therapeutic product NTx(TM)-265, has been demonstrated to increase the number of innate adult stem cells that grow in place when this therapeutic approach is applied to test animals. SCT plans to develop this fundamental technology further for specific disease treatments such as stroke, and potentially Huntington’s disease, Alzheimer’s disease and other neurodegenerative conditions.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
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.
Stem Cell Therapeutics Corp.
CONTACT: For further information on Stem Cell Therapeutics Corp., visitwww.stemcellthera.com or contact: Dr. Joseph Tucker, Chief ExecutiveOfficer, Stem Cell Therapeutics Corp., Phone : (403) 245-5495,info@stemcellthera.com
