Stem Cell Therapeutics Corp.
TSX VENTURE : SSS

Stem Cell Therapeutics Corp.

November 13, 2007 10:54 ET

Stem Cell Therapeutics Announces Appointment of Dr. Francesco Bellini to Its Board of Directors

CALGARY, ALBERTA--(Marketwire - Nov. 13, 2007) - Stem Cell Therapeutics Corp. ("SCT") (TSX VENTURE:SSS) is pleased to announce the appointment of Dr. Francesco Bellini, Chairman, President and CEO of Neurochem Inc., an industry leader in the development of therapeutic drugs for the Central Nervous System, to its Board of Directors.

In addition to being Chairman, President and CEO of Neurochem Inc., Dr, Bellini is the Chairman of Picchio International, Picchio Pharma, Adaltis, Virochem and Prognomix. Prior to becoming President and CEO of Neurochem Inc. in 2002, Dr. Francesco Bellini was Chairman and CEO of BioChem Pharma, an innovative biopharmaceutical company focused on infectious diseases and cancer which he co-founded in 1986. In 2001, BioChem Pharma merged through an exchange of shares with Shire Pharmaceuticals Group of England valuing Biochem Pharma at C$5.9 billion.

From 1968 to 1984, Dr. Bellini had a prolific career as a researcher at the Canadian subsidiary of a multinational pharmaceutical company, Ayerst. In 1984, Dr. Bellini established the Biochemical Division of the Institut Armand-Frappier at the Universite du Quebec, which specializes in research, manufacturing and the commercialization of fine chemicals. He was the head of this unit until leaving in 1986 to co-found BioChem Pharma.

Born in 1947 in Ascoli Piceno, Italy, Dr. Bellini came to Canada in 1967. He received his Bachelor of Science degree from Loyola College (now Concordia University) in 1972 and his Doctorate in organic chemistry from University of New Brunswick in 1977. He is the author or co-author of some 25 patents and has published numerous articles and papers based on his research. In 2005, Dr. Bellini received the title of Cavaliere del Lavoro, the most prestigious honour granted by the Italian government, for his major contributions to the fields of entrepreneurship, research and the economy. He was named an Officer of the Ordre national du Quebec in 2004, and an Officer of the Order of Canada in 2000.

"We are very pleased to add Dr. Bellini to our Board of Directors given his extensive experience and expertise in pharmaceutical development, including late stage clinical development and drug approval, and importantly, strategy, business development, and a successful merger of one of the companies he co-founded " commented Dr. Alan Moore, President and CEO of SCT. "Dr. Bellini has considerable public biotechnology company experience that will add significantly toward Stem Cell's continued development."

SCT has issued 100,000 stock options to Dr. Bellini at an exercise price of C$0.35 per share in connection with his appointment to the Board of Directors. These options vest immediately and expire November 13, 2012. These options were awarded in accordance with the Corporations Stock Option Plan.

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 NTx™-265: NTx™-265 is a therapeutic regimen of two approved and clinically well-defined drugs, human Chorionic Gonadotropin (hCG) and Erythropoietin (EPO), targeting the treatment of stroke. The objective of the regimen is to stimulate the growth and differentiation of new neurons to replace the brain cells that were lost or damaged by the stroke. Animal studies have shown a significant recovery in motor function after receiving the NTx™-265 regimen 24-48 hours post stroke. Similar results have been found in SCT's currently enrolling phase IIa safety trial, as announced on April 10, 2007. SCT plans to initiate a multi-centre, double-blind, placebo-controlled Phase IIb study for NTx™-265 with primary endpoints of efficacy by the end of this year.

About Stem Cell Therapeutics Corp.: Stem Cell Therapeutics Corp. is a Canadian 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 neurological 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.

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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information