CALGARY, ALBERTA--(Marketwire - March 7, 2011) - Stem Cell Therapeutics Corp. (TSX VENTURE:SSS) ("SCT" or the "Company") is pleased to announce today that the Multiple Sclerosis (MS) phase II clinical trial is proceeding. This program will be executed by the University of Calgary utilizing funding from the Stem Cell Network, based in Ottawa. The financial commitment of SCT is limited to providing the drug (prolactin) for the program at a cost not expected to exceed $500,000. Access to funding makes this program extremely cost effective for the Company as the total clinical trial is expected to cost 4-5 times more than the cost of the drug.
This decision reflects SCT's ongoing commitment to execute its business plan to facilitate the value realization of its core programs. The Company continues to advance its other high priority programs, Stroke and Traumatic Brain Injury.
Recent research conducted at the University of Calgary – Hotchkiss Brain Institute and McGill University has been instrumental in providing important proof of concept data in animal models of MS. In concept, prolactin acts to increase stem cells within the central nervous system (CNS), and directs newly formed oligodendrocyte precursor cells to mature and support re-myelination of damaged CNS tissue. Our current knowledge suggests that prolactin treatment may be beneficial to MS patients as this new approach may modulate disease burden through enhancements in re-myelination. Working closely with highly recognized MS neurologists, at the Hotchkiss Brain Institute – MS program, we hope to translate these basic research findings into a potential MS treatment. For this reason SCT will be expediting support for this exploratory phase II clinical trial in patients with MS.
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.
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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.
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