Stem Cell Therapeutics Corp.
TSX VENTURE : SSS

Stem Cell Therapeutics Corp.

December 22, 2006 15:03 ET

Stem Cell Therapeutics Corp Announces the Resignation of a Director

CALGARY, ALBERTA--(CCNMatthews - Dec. 22, 2006) -

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Stem Cell Therapeutics Corp. ("SCT") (TSX VENTURE:SSS) announced today the resignation of Dr. Joseph Tucker from its Board of Directors. This follows Dr. Tucker's resignation as President and CEO on December 13, 2006 and the recently-announced appointments of Dr. Jean-Paul Castaigne, Executive Chairman of the Board of AngioChem Inc., to the Board of Directors, and Dr. Alan Moore to the position of President and CEO of SCT.

About Stem Cell Therapeutics Corp.: Stem Cell Therapeutics Corp. 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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