TORONTO, ONTARIO--(Marketwired - April 21, 2014) - Stem Cell Therapeutics Corp. ("SCT") (TSX VENTURE:SSS)(OTCQX:SCTPF), an immuno-oncology company developing cancer stem cell-related therapeutics, today announces that its common shares have been approved for listing and will commence trading on the Toronto Stock Exchange ("TSX") at the opening of the TSX on April 22, 2014. The Company's common shares will continue to trade under the trading symbol "SSS" and its common shares will be delisted from the TSX Venture Exchange concurrent to the commencement of trading on the TSX.
"Graduation to the TSX is one of several important corporate milestones we aim to achieve this year as we continue to grow our company," commented Dr. Niclas Stiernholm, CEO of SCT. "Listing on the TSX is expected to provide the company with improved access to the capital markets and greater recognition among healthcare investors."
The company also announced that the Board of Directors has granted options to purchase 7,923,868 common shares of the company to its executive officers. The options were issued at an exercise price of $0.345 per share for a ten-year term. The grant of options is subject to acceptance by the TSX Venture Exchange. SCT has approximately 344 million shares outstanding on a fully diluted basis.
About Stem Cell Therapeutics:
Stem Cell Therapeutics Corp. (SCT) is an immuno-oncology company advancing cancer stem cell discoveries into novel and innovative cancer therapies. The Company has two premier preclinical programs, SIRPaFc and a CD200 monoclonal antibody (mAb), which target two key immunoregulatory pathways that tumor cells exploit to evade the host immune system. SIRPaFc is an antibody-like fusion protein that blocks the activity of CD47, a molecule that is upregulated on cancer stem cells in AML and several other tumors. The CD200 mAb is a fully human monoclonal antibody that blocks the activity of CD200, an immunosuppressive molecule that is overexpressed by many hematopoietic and solid tumors. SCT's clinical stage programs include the recently in-licensed program focused on the structure of tigecycline, which is currently being evaluated in a multi-centre Phase I study in patients with acute myeloid leukemia (AML), as well as TTI-1612, a non-cancer stem cell asset that recently completed a 28-patient Phase I trial in interstitial cystitis ("IC") patients. For more information, visit: www.stemcellthera.com
Caution Regarding Forward-Looking Information:
This press release may contain forward-looking statements, which reflect SCT's current expectation regarding future events. These forward-looking statements involve risks and uncertainties that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include changing market conditions; the successful and timely completion of pre-clinical and clinical studies; the establishment of corporate alliances; the impact of competitive products and pricing; new product development risks; uncertainties related to the regulatory approval process or the ability to obtain drug product in sufficient quantity or at standards acceptable to health regulatory authorities to complete clinical trials or to meet commercial demand; and other risks detailed from time to time in SCT's ongoing quarterly and annual reporting. Except as required by applicable securities laws, SCT undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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.