Stem Cell Therapeutics: Corporate Update

CALGARY, ALBERTA--(Marketwire - August 10, 2010) - Stem Cell Therapeutics Corp. (“SCT” or the “Company”) (TSX VENTURE: SSS) wishes to announce that Mark Wayne and Ian Brown have resigned as directors of the Company effective August 9th, 2010. The Company would like to thank both Mark Wayne and Ian Brown for their time and efforts as directors.

The Company has appointed, subject to TSXV approval, R. Dean Peterson and Dan Stearne as directors as of August 9th, 2010. Dean Peterson and Dan Stearne are both Calgary businessmen. Mr. Peterson is the founder of a company specializing in pipeline construction. Dan Stearne is president and CEO of Inventronics Limited a custom designer and manufacturer of metal enclosures intended for application in utility-type infrastructures. Dean Peterson is a significant shareholder of SCT owning directly and indirectly approximately 10% of SCT’s common shares.

The Company continues to move forward 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 while concurrently reviewing alternatives for pursuing the traumatic brain injury (“TBI”) and multiple sclerosis (“MS”) study 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.