Stem Cell Therapeutics Corp.

Stem Cell Therapeutics Corp.

May 19, 2010 13:01 ET

Stem Cell Therapeutics Corp. Announces the Date for the Release of Top-Line Results in the Modified REGENESIS Phase IIb Stroke Trial

CALGARY, ALBERTA--(Marketwire - May 19, 2010) - Stem Cell Therapeutics Corp. ("SCT" or the "Company") (TSX VENTURE:SSS)announced today that the Company will be instructing its third party contract researchers to finalize the patient data base for the primary endpoint data of the modified REGENESIS- Phase IIb stroke trial after the markets have closed on Friday May 21. At this time the blinded data base and the key to unlock it are held by two different independent contractors. The modified REGENESIS- Phase IIb trial, a placebo controlled, double blinded, 3:1 randomized clinical study, enrolled 96 patients with acute ischemic stroke between August 2009 and January 24, 2010. Once the top-line primary endpoint data is unlocked a preliminary analysis of this data can be conducted by the Company for this key Phase IIb clinical trial of NTx®-265 in acute stroke. Top line results for primary endpoint data are expected to be announced prior to markets opening on May 25th, 2010.

SCT management is unaware of any information on the Company that would have caused the dramatic drop in SCT's stock price earlier today.

Dr. Alan Moore, President & CEO of SCT commented as follows:

"The modified REGENESIS- Phase IIb stroke trial has entered into the final stages of data analysis and the reporting of top-line results. With the solid efforts of our team we are anticipating the release of top-line primary endpoint results for the Phase IIb clinical trial on May 25th, 2010. The change in our stock price today was very unexpected and since the data has not been unblinded, we are unaware of any information that would have impacted our stock price in such a manner."

About Stem Cell Therapeutics Corp.: Stem Cell Therapeutics Corp. is a Canadian 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 neurological function lost due to disease or injury. SCT'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.

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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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