Stem Cell Therapeutics Corp.

Stem Cell Therapeutics Corp.

December 14, 2006 00:37 ET

Stem Cell Therapeutics Corp. Announces Appointment of New President and CEO

CALGARY, ALBERTA--(CCNMatthews - Dec. 14, 2006) -


Stem Cell Therapeutics Corp (TSX VENTURE:SSS) ("SCT" or the "Company") announces that Dr. Alan Moore, the Company's Chief Clinical and Regulatory Officer, has been appointed as the new President and Chief Executive Officer of SCT effective December 13, 2006. Dr. Joseph Tucker has resigned as President and Chief Executive Officer of SCT in order to pursue other opportunities.

"I am very excited to have the opportunity to assume leadership of Stem Cell Therapeutics as it transitions into full scale clinical development and broader interactions with world-wide regulatory agencies," said Dr. Alan Moore. "We are currently in the early stages of our phase IIa clinical study in stroke patients which we anticipate will be a precursor to larger studies to test the efficacy of our NTx™-265 regimen of drugs for the treatment of stroke. I would like to thank Dr. Tucker for his efforts in founding the Company and providing the leadership that has enabled SCT to achieve such significant progress in a fairly short period of time".

Dr. Moore obtained a Ph.D. in pharmacology in 1974 from the University of Aston in Birmingham, England. He completed a postdoctoral fellowship at the Cleveland Clinic from 1974 to 1977. From 1977 to 1979 he was Assistant Professor of Pharmacology at the Institute for Cardiovascular Studies and Department of Pharmacology at the University of Houston. From 1979 to 1982 he was Unit Leader, Pharmacology and Senior Research Scientist at Norwich Eaton Pharmaceuticals. Following the acquisition of Norwich Eaton by Procter & Gamble, Dr. Moore held increasingly senior positions as Section Chief, Director of Research, and then Director of New Drug Development before assuming his most recent role there from 1998 to 2002 as General Manager, Cardiac R&D. Prior to joining SCT, Dr. Moore was Executive VP, Clinical Development and Regulatory Affairs at Cardiome Pharma Corp. from 2002 through end of 2004, where he was responsible for all clinical and regulatory activities. Most recently, Dr. Moore was Chief Clinical and Regulatory Officer for Stem Cell Therapeutics, responsible for moving NTx™-265 from preclinical through phase I and into early phase II clinical studies, and exploring new therapeutic applications. Additionally, he is a member of the Board of Directors of Pacgen Biopharma in Vancouver, Canada. He has 28 years of senior management experience in pharmaceutical research and development including 23 years with increasingly senior responsibilities at Procter & Gamble. During his extensive working history, Dr. Moore has completed 12 investigational new drug (IND) applications or supplemental INDs, 16 phase I studies, 12 phase II studies, 9 phase III studies and 2 new drug applications. One of Dr. Moore's completed phase III studies enrolled 4,000 patients and included centers in 26 countries. In his new position, Dr. Moore will be responsible for the development, approval and eventual marketing of NTx™-265 worldwide for the treatment of stroke; and as part of that, developing the infrastructure, financial support and partnerships necessary to make this happen.

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.

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