SOURCE: Medistem Inc.

Medistem Inc.

May 21, 2013 09:00 ET

Medistem, Inc. Appoints Herm Rosenman to Board of Directors

SAN DIEGO, CA--(Marketwired - May 21, 2013) - Medistem, Inc. (PINKSHEETS: MEDS), today announced that it has appointed Herm Rosenman to its Board of Directors and Chairman of the Audit Committee. Mr. Rosenman was Senior Vice President and Chief Financial Officer of Gen-Probe, Inc., from 2001, through its IPO in 2002, until its acquisition by Hologic, Inc., in August 2012 for $3.7 billion.

"We welcome Herm to our Board of Directors and are also delighted that he has agreed to Chair our Audit Committee. He is a proven business leader and brings hands-on financial and operational experience to our Board. His financial expertise and knowledge of public healthcare companies comes at a critical time for Medistem as we transition to once again becoming a fully reporting company. Herm's appointment is part of our strategy to transform Medistem into a leader in developing universal adult stem cells to treat Critical Limb Ischemia (CLI), Congestive Heart Failure (CHF) and Type 1 Diabetes," said Alan J. Lewis, Ph.D., CEO of Medistem. "Herm's considerable track record in building and managing successful companies will be a great asset to Medistem. The Board and I look forward to working with Herm to create value for our shareholders."

"I am excited to join the Medistem Board of Directors. I believe Medistem has taken significant steps to becoming a leader in the adult stem cell sector. I look forward to working alongside my fellow directors and the Medistem management team to contribute to the Company's success," said Mr. Rosenman.

Prior to joining Gen-Probe, Mr. Rosenman served as Chief Executive Officer of two Nasdaq-listed companies and CFO of a Fortune 1000 NYSE-listed company, served on the boards of multiple healthcare companies and was a partner at Coopers & Lybrand (now PricewaterhouseCoopers). Mr. Rosenman, a CPA, received a B.B.A. in finance and accounting from Pace University and an M.B.A. in finance from the Wharton School of the University of Pennsylvania.

About Medistem, Inc.

Medistem, Inc., is focused on the development of the Endometrial Regenerative Cell (ERC), a universal donor adult stem cell product. ERCs possess specialized abilities to stimulate new blood vessel growth and can differentiate into lung, liver, heart, brain, bone, cartilage, fat and pancreatic tissue. These unique properties have applications for treatment of critical limb ischemia (CLI), congestive heart failure (CHF), neurodegenerative diseases, liver failure, kidney failure, and diabetes. ERCs have been cleared by the FDA to begin studies in the United States. In January 2012, we announced the initiation of our RECOVER-ERC (Non-Revascularizable IschEmic Cardiomyopathy treated with Retrograde COronary Sinus Venous DElivery of Cell TheRapy) Phase II clinical trial. This trial is being conducted at the Bakulev Scientific Center for Cardiovascular Surgery, Moscow, Russia. The trial is a 60 patient double blind placebo controlled study evaluating safety and efficacy of ERCs in end stage CHF patients.

Certain statements herein may be forward-looking and involve risks and uncertainties. Such forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Medistem, Inc. These can be identified by the use of forwardlooking words, such as "believes", "expects", "may", "intends", "anticipates", "plans", "estimates", or any other analogous or similar expressions intended to identify forwardlooking statements. These forwardlooking statements and estimates as to future performance, estimates, and other statements contained herein regarding matters that are not historical facts, are only predictions and actual events or results may differ materially. We cannot assure or guarantee that any future results described in this presentation will be achieved, and actual results could differ materially as a result of a variety of factors, including the risks associated with the effect of changing economic conditions and other risk factors detailed in the Company's Securities and Exchange Commission filings. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Contact Information