SOURCE: AmStem Corporation (Stem Cell Therapy International, Inc.)

AmStem Corporation (Stem Cell Therapy International, Inc.)

March 05, 2010 10:00 ET

Histostem Works With Korean Government Agency to Provide Cord Blood Storage for Multicultural Families

TAMPA, FL--(Marketwire - March 5, 2010) - AmStem Corporation (OTCBB: AMST) announced that Histostem Ltd. of South Korea ("Histostem"), has signed a partnership with the Songpa-Gu Office, an office of the Seoul Metropolitan Government, to offer a program that will enable multicultural families to store umbilical cord blood, at no expense to them, for up to fifteen years. Umbilical cord blood contains an abundant supply of stem cells, which when properly stored, may be used as part of developing treatment therapies for many life-threatening diseases. By the terms of the agreement, Histostem will provide families access to advanced cord blood storage services as well as proprietary stem cell treatments derived from the stored blood. Songpa County will support Histostem with appropriate administrative and other necessary services for the successful launching of this program. 

AmStem's Chairman, Dr. Hoon Han, commented, "With more than 1.1 million foreigners now living in Korea, the number of multicultural marriages and families is on the rise. By providing these families the opportunity to store the donated umbilical cord blood, we give them access to autologous stem cells that may be used in the future treatment of certain cancers, such as leukemia, as well as immune and genetic disorders. In addition, by addressing the multicultural population in Korea, this collaborative opportunity also increases the genetic diversity of the available supply of umbilical cord blood derived stem cells -- which may benefit Korean and foreign patients alike." 

This is the first cooperative cord blood storage program of its type in Korea and is expected to serve as a model for other local communities. David Stark, President of AmStem International, Inc., commented, "This provides AmStem and Histostem with another 'badge of validity' with government health agencies around the world. A diverse genetic catalogue of autologous, HLA-typed stem cell resources such as cord blood is in extremely high demand right now -- not only by individual families, but by government-sponsored scientists and other researchers worldwide. This is exactly the kind of collaborative, networking opportunity that AmStem hopes to expand in North America and Europe."

With Histostem's already-established repository of over 80,000 umbilical cord blood units and growing, AmStem controls one of the world's largest single Cord Blood Banks. "This is just the beginning of AmStem's planned commercial expansion into autologous, prospective, long-term cord blood storage; as well as the ability to link up with other major sources of cord blood to form an important resource for the world's scientists," concluded Mr. Stark.

About AmStem Corporation
AmStem Corporation (OTCBB: AMST) is in the field of regenerative medicine and is a leading provider of biotherapeutic and cosmetic stem cell products, stem cell collection and storage expertise and access to nanotechnology vital to stem cell research. AmStem owns and operates two subsidiaries: a.) 90% interest of Histostem Co. Ltd. (Korean Corporation) b.) 100% control of AmStem International, Inc. (Nevada Corporation).

Histostem is a producer of stem cells utilizing proprietary technology that successfully isolate stem cells from umbilical cord blood (UCB) and nurture them to multipotent stem cells. Histostem also manufactures stem cell based facial creams, possesses storage facilities and conducts clinical research. AmStem International distributes stem cell based cosmetic products.

Forward-Looking Statements
Some of the statements included in this press release, particularly those anticipating future clinical and business prospects for Stem Cell Therapy International, Inc. may be forward-looking statements that involve a number of risks and uncertainties. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Among the factors that could cause our actual results to differ materially are the following: our ability to obtain necessary capital, successfully complete clinical trials, our ability to meet anticipated development timelines, our ability to establish global market for the cord blood cells, clinical trial results, successfully consummate future acquisitions, manufacturing capabilities or other factors; and other risk factors identified from time to time in our reports filed with the Securities and Exchange Commission. Any forward-looking statements set forth in this press release speak only as of the date of this press release. We do not intend to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. 

Contact Information

  • CONTACTS:
    Stem Cell Therapy International, Inc.
    13406 Racetrack Road #233
    Tampa, FL 33626
    (813) 283-2556
    David Stark
    CEO
    DStark@amsteminc.com

    Andrew Norstrud
    CFO
    Anorstrud@amsteminc.com

    Investor relations:
    Jennifer Belodeau/John Nesbett
    Institutional Marketing Services (IMS)
    (203) 972-9200
    IR@amsteminc.com