Stem Cell Therapeutics Corp.
TSX VENTURE : SSS

Stem Cell Therapeutics Corp.

April 23, 2008 10:00 ET

Stem Cell Therapeutics Corp. Receives "May Proceed" From FDA for Its Phase IIb Clinical Stroke Trial and IND

CALGARY, ALBERTA--(Marketwire - April 23, 2008) - Stem Cell Therapeutics Corp. ("SCT") (TSX VENTURE:SSS) is pleased to announce that the U.S. Food and Drug Administration (FDA) has allowed its investigational new drug application (IND) to proceed. The IND-opening study is a double-blind, randomized, placebo-controlled Phase IIb clinical trial of its lead program, NTx™-265, for the treatment of acute ischemic stroke. The FDA response allows initiation of the U.S Phase IIb clinical trial in acute ischemic stroke, led by the Principle Investigator of the Phase IIa 'BETAS' stroke trial, Dr. Steven C. Cramer, at the University of California, Irvine. Dr. Cramer is also the co-Lead Investigator of the Canadian Phase IIb 'REGENESIS' trial along with Dr. Michael Hill at the Foothills Hospital, University of Calgary.

This U.S. Phase IIb acute ischemic stroke trial is similar to the previously announced Canadian-based 'REGENESIS' trial. The recruitment target for this US study is to enroll 20-30 patients at 3-4 enrolling sites. This will accompany the currently enrolling Canadian Phase IIb 'REGENESIS' stroke trial, projected to enroll 134 patients at approximately 18 sites. The U.S. and Canadian Phase IIb clinical stroke studies share similar protocols, safety and efficacy endpoints.

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

"We are very excited by the FDA's acceptance of the IND for our U.S. Phase IIb acute ischemic stroke trial. This acceptance demonstrates that SCT has met an important clinical development milestone especially for a non-U.S. biotech company. This U.S. companion study of the Canadian Phase IIb study is a key component of the pre-pivotal Phase III program as we aspire to meet worldwide regulatory acceptance and because the FDA sets a critical regulatory standard."

Part of the FDA evaluation process included reviewing the patient safety and efficacy results from the Phase IIa 'BETAS' clinical stroke trial. Favorable results from the Phase IIa 'BETAS' stroke trial were released February 20, 2008.

About NTx™-265: NTx™-265 is a therapeutic regimen of two approved and clinically well-defined drugs, human Chorionic Gonadotropin (hCG) and Erythropoietin (EPO), targeting the treatment of stroke. The twin objectives of the regimen are to stimulate the growth and differentiation of new neurons to replace the brain cells that were lost or damaged by the stroke, and importantly, to direct motor, visual and cognitive recovery after acute ischemic stroke. Animal studies have shown a significant recovery in motor function after receiving the NTx™-265 regimen 24-48 hours post stroke. Encouraging clinical results in SCT's Phase IIa 'BETAS' stroke trial were presented at the International Stroke Conference in February 2008, showing clinically relevant recovery in 8 of 8 patients who received the complete regimen. SCT is enrolling sites for the multi-centre, double-blind, placebo-controlled Phase IIb 'REGENESIS' study for NTx™-265 with primary endpoints of efficacy; enrolment to be complete by the end of 2008 with top-line efficacy data to be released before the end of the first quarter of 2009.

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. The company'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 and multiple sclerosis.

SCT's Annual General Meeting will take place on Friday May 16th at 2:30pm MT at the Sheraton Suites Eau Clare, 255 Barclay Parade SW, Calgary, Alberta.

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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.

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