Stem Cell Therapeutics Corp.
TSX VENTURE : SSS

Stem Cell Therapeutics Corp.

July 18, 2011 18:33 ET

Stem Cell Therapeutics Corp. Announces Dr. Calvin R. Stiller and Dr Niclas Stiernholm to Join Board of Directors

CALGARY, ALBERTA--(Marketwire - July 18, 2011) - Stem Cell Therapeutics Corp. (TSX VENTURE:SSS) today announced the appointment of Dr. Calvin Stiller and Dr. Niclas Stiernholm to the company's Board of Directors as it continues to expand upon the recent announcements of the appointments of Dr Henry Friesen as a member of the Board and Mr David Allan as Executive Chairman.

Physician, scientist and entrepreneur Dr. Calvin R. Stiller of London, Ontario is a Member of the Order of Canada and the Order of Ontario, was the recipient of the Canada Gairdner Wightman Award in 2011 (awarded to a Canadian who has demonstrated outstanding leadership in medicine and medical science) and was inducted into the Canadian Medical Hall of Fame in 2010, an organization founded by him. Dr. Stiller is chair of the Ontario Institute for Cancer Research, the former chair of Genome Canada and is Professor Emeritus in the Department of Medicine at the University of Western Ontario. Dr. Stiller founded the J. Allyn Taylor International Prize in Medicine, co-founded the Medical and Related Sciences Research District (MaRS), was the Chair of the Ontario Research and Development Challenge Fund Board and was the co-founder of four venture capital funds of over $500 million. He serves on the boards of a number of private and public companies, was founding Chair of Trillium Therapeutics and was chair of Verio Therapeutics, a Canadian stem cell company that was acquired in 2010 by Fate Corporation, a California-based regeneration company. Together with Robert Klein (the founder of the California Institute of Regenerative Medicine, a state agency responsible for granting approximately $3 billion in stem cell research funding), he co-founded the Cancer Stem Cell Initiative, a Canada-California consortium that has been productive in the search for and identification of cancer stem cells.

"Dr. Stiller's impressive accomplishments have changed both research and clinical practices but, of importance to this company and to society, he has been a tireless advocate of the need to bridge the traditional chasm between discovery and development," said David Allan, Executive Chairman of Stem Cell Therapeutics Corp. "We share this passion for bridging the divide and his recognition of the urgent need for companies such as Stem Cell Therapeutics to act as receptor companies for the enormous quantity of profound research in the stem cell arena will help us position SCT as the development partner of choice over time."

"I am pleased to be joining the Board of Directors of SCT at such a progressive time in its history," stated Dr. Stiller. "SCT has positioned itself importantly to expand its interests beyond the exceptional discoveries made by Dr Sam Weiss around whose work in stem cells this company was formed. I'm honored to have the opportunity to help SCT leverage on the truly extraordinary Canadian science that promises to translate into therapeutic benefit for many diseases."

Dr. Niclas Stiernholm has been the CEO of Trillium Therapeutics Inc., a leading Canadian immunology company, since 2002. Trillium has a demonstrated ability to identify and access promising early-stage opportunities and convert them into clinic-ready technologies. Dr. Stiernholm brings a rich history of creative deal making which includes licensing and co-development agreements with major multinational biopharmaceutical companies, as well as the establishment of a broad network of external academic and industry R&D collaborations. He started his industry career with one of Canada's original biotechnology companies, Allelix Biopharmaceuticals. Prior to joining Trillium, Dr. Stiernholm served as the Executive Vice-President and Chief Scientific Officer at YM BioSciences.

"With a strong academic grounding in immunology and a profound grasp of the dynamics of biotechnology companies, Nic has an exceptional ability to bridge the gap between business and science, the very element that drives our passion and expectations at SCT." said David Allan. "His understanding of the biotechnology industry and his broad relationships within it, as well as his considerable experience in identifying, evaluating and closing on new business opportunities, will stand us in good stead."

"With Dr. Stiller and Dr. Stiernholm joining Dr. Friesen and me to lead this company's next stage of development, we have assembled a team of extraordinary capability in the stem cell arena and one that could have a dramatic impact on the commercialization landscape of stem cell discoveries in this country and elsewhere" continued David Allan. "We intend to be a force in the field."

Stem Cell Therapeutics also wishes to announce the issuance of stock options to Drs. Stiller and Stiernholm and to Mr. Deane Peterson, a current Board member. SCT has issued an aggregate of 1,500,000 options to purchase common shares of the company at an exercise price of C$0.10 per share. The options expire no later than July 18, 2016, in each case subject to applicable vesting provisions. These options were awarded in accordance with the company's Stock Option Plan.

The appointment of Drs. Stiller and Stiernholm to the Board of Directors is subject to the approval of the TSX Venture Exchange.

About Stem Cell Therapeutics Corp.: Stem Cell Therapeutics Corp. is a public biotechnology company principally developing for commercialization 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 brain and nerve 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 stroke, traumatic brain injury, multiple sclerosis, Huntington's disease, Alzheimer's disease, and ALS.

Caution Regarding Forward-Looking Information: Certain statements contained in this press release constitute forward-looking information within the meaning of applicable Canadian provincial securities legislation (collectively, the "forward-looking statements"). These forward-looking statements relate to, among other things, SCT's objectives, goals, targets, strategies, intentions, plans, beliefs, estimates and outlook, and can, in some cases, be identified by the use of words such as "believe," "anticipate," "expect," "intend," "plan," "will," "may" and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from these expectations include, among other things: uncertainties and risks related to, the availability of capital, changes in capital markets, uncertainties related to clinical trials and product development, rapid technological change, uncertainties related to forecasts, competition, potential product liability, unproven markets for technologies in development, the cost and supply of raw materials, management of growth, effects of payors' willingness to pay for products, risks related to regulatory matters and risks related to intellectual property matters. Additional information about these factors and about the material factors or assumptions underlying such forward-looking statements may be found in the body of this news release, as well as under the heading "Risk Factors" contained in SCT's 2010 annual information form. SCT cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on SCT's forward-looking statements to make decisions with respect to SCT, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Such forward-looking statements are based on a number of estimates and assumptions which may prove to be incorrect, including, but not limited to, assumptions regarding the availability of financing for research and development companies in addition to general business and economic conditions. These risks and uncertainties should be considered carefully and investors and others should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, SCT cannot provide assurance that actual results will be consistent with these forward-looking statements. SCT undertakes no obligation to update or revise any forward-looking statement.

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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