Stem Cell Therapeutics Corp.

Stem Cell Therapeutics Corp.

January 22, 2007 08:30 ET

Stem Cell Therapeutics Corp. Announces Formation of Scientific Advisory Board and Proposed $2.0 Million Financing

CALGARY, ALBERTA--(CCNMatthews - Jan. 22, 2007) -


Stem Cell Therapeutics Corp. (TSX VENTURE:SSS) ("SCT") is pleased to announce the formation of its Scientific Advisory Board (SAB) with four internationally renowned scientists and clinicians. Drs. Myron D. Ginsberg, Joshua M. Hare, Craig M. Pratt, and Samuel Weiss have agreed to provide input and guidance on SCT's current stroke program with NTx™-265, as well as future programs in Traumatic Brain Injury, Schizophrenia, Multiple Sclerosis, and potentially Huntington's disease.

"These distinguished and renowned scientists and clinicians have agreed to form the nucleus of our Scientific Advisory Board," commented Dr. Alan Moore, President and CEO of SCT. "As we rapidly advance through the clinic with our stroke program, and look to develop other programs, this advisory board will be invaluable in providing input and guidance to ensure future success."

Myron D. Ginsberg, M.D., is the Peritz Scheinberg Professor of Neurology, Director of the Cerebral Vascular Disease Research Center, and Co-Director of the Neurotrauma Research Center at the University of Miami/Jackson Memorial Medical Center, Miami Florida. Dr. Ginsberg's areas of expertise and research interest are around stroke and cerebrovascular disease specifically looking at pharmaceutical agents and strategies that can be utilized to protect the injured brain. He received his medical degree from Harvard Medical School, and served as a resident at Harvard Medical Services, Boston City Hospital as well as the Massachusetts General Hospital, Boston. Moreover Dr. Ginsburg is a well known thought leader in stroke with over 260 publications to his credit.

Joshua M. Hare, M.D., is the Louis Lemberg Professor of Medicine, Director of the Interdisciplinary Stem Cell Institute, Assistant Dean of Research, and Chief of Cardiology at the Miller School of Medicine, University of Miami, Florida. At Johns Hopkins University he pioneered the use of stem cell therapy to repair damaged hearts. Dr. Hare graduated from the University of Pennsylvania and has a medical degree from Johns Hopkins. He did his residency at Hopkins and fellowships at Hopkins, Harvard University and The Brigham and Women's Hospital in Boston. Dr. Hare has over 120 publications and 43 invited lectureships over his career thus far.

Craig M. Pratt, M.D., is a Professor of Medicine Weill Medical College of Cornell University, New York, New York, the Vice-Chairman of Research for the Department of Cardiology, Methodist Hospital Research Institute and Director of Research for The Methodist DeBakey Heart Center, The Methodist Hospital, Houston, Texas. Dr. Pratt also acts a consultant to the United States Food and Drug Administration (FDA), and has been the past Chairman of the Cardio-Renal Advisory Board for the FDA. He has been involved with a number of clinical trials investigating drugs aimed at treating cardiac abnormalities and conditions. Dr. Pratt completed his MD at the University of California, Irvine, and undertook residency and fellow training at the University of California, Davis. Dr. Pratt has over 141 publications and been involved with over 37 industry sponsored research projects and clinical trials.

Samuel Weiss, Ph.D., is a Professor and the Director of the Hotchkiss Brain Institute, and Alberta Heritage Foundation for Medical Research Scientist in the Departments of Cell Biology & Anatomy and Pharmacology & Therapeutics at the University of Calgary, Faculty of Medicine, Calgary, Alberta. He received his B.Sc. in biochemistry from McGill University in Montreal and his Ph.D. in neurobiology from the University of Calgary. Two major discoveries are the hallmarks of Dr. Weiss' research career. In 1985, together with Dr. Fritz Sladeczek, Dr. Weiss discovered the metabotropic glutamate receptor - now a major target for pharmaceutical research and development for neurological disease therapies. In 1992, Dr. Weiss discovered neural stem cells in the brains of adult mammals. In addition to authoring many publications in his field and sitting on numerous national and international peer review committees, Dr. Weiss holds several patents in the neural stem cell field and is a founder of SCT. Dr. Weiss has over 100 publications and 60 invited lectureships in his career to date.

SCT also announced today a proposed $2.0 million unit offering with each $0.20 unit to be comprised of one common share and one half of one common share purchase warrant exercisable for 24 months at a price of $0.25. This financing remains subject to TSX Venture Exchange approval and is anticipated to close towards the end of January, 2007. Insiders of SCT are expected to subscribe for approximately 10% of the offering.

About NTx™-265: NTx™-265 is a therapeutic regimen of two drugs being developed by SCT for the treatment of stroke. Human chorionic gonadotropin (hCG) is the first drug administered in the regimen, and aims to increase the number of neural stem cells (NSCs) located in the brain of a patient suffering from a recent stroke. Erythropoietin (EPO) is the second drug administered in the regimen, and aims to promote the differentiation of these newly formed NSCs into new neurons. New neurons thus formed are anticipated to provide benefit to the patient through the replacement of the brain cells that were lost or damaged by the stroke.

About Stem Cell Therapeutics Corp.: Stem Cell Therapeutics Corp. (SCT) is a biotechnology company 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. Our currently enrolling phase IIa clinical program for NTx™-265 targets the treatment of stroke by repurposing approved and clinically well defined drugs. 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