Stem Cell Therapeutics Corp.

Stem Cell Therapeutics Corp.

October 15, 2007 09:00 ET

Stem Cell Therapeutics Announces Appointment of Mr. Scott Tannas to Its Board of Directors

CALGARY, ALBERTA--(Marketwire - Oct. 15, 2007) - Stem Cell Therapeutics Corp. ("SCT") (TSX VENTURE:SSS) is pleased to announce the appointment of Mr. Scott Tannas, a senior financial and insurance brokerage executive, to the Board of Directors. SCT also announces that Dr. J.P. Castaigne has resigned from SCT's Board of Directors in order to focus on his current obligations at Angiochem Inc.

Mr. Tannas is the Founder, President and Chief Executive Officer of the Western Financial Group, a leading financial services provider of insurance, investment and banking products to more than 400,000 western Canadians through its subsidiaries and affiliates, which include Bank West, Western Life Assurance Company, and the WFG Agency Network. Mr. Tannas is a recipient of Ernst & Young's Entrepreneur of the Year Award, and is a director of a number of private and public companies.

"We are excited about adding Scott to our Board of Directors for his expertise in the financial markets and corporate governance." commented Dr. Alan Moore, President and CEO of SCT. "It is however regrettable that we will no longer be able to work with Dr. Castaigne as a member of our Board of Directors. His time spent with SCT has been rewarding and we wish him the best at Angiochem."

SCT has issued 175,000 stock options to Mr. Tannas at an exercise price of $0.39 per share in connection with his appointment to the Board of Directors. 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 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.

For further information on Stem Cell Therapeutics Corp., visit

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.

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