Stem Cell Therapeutics Corp. Receives Request for Full TBI Proposal From the US Dept of Defense
13 October 2010 - 7:30AM
Marketwired
Stem Cell Therapeutics Corp. ("SCT" or the "Company") (TSX VENTURE:
SSS) is pleased to announce that the company has recently received
a request for a "full program proposal" for the NTx®-265 program in
Traumatic Brain Injury (TBI). A pre-proposal submitted earlier for
the Combat Casualty Program entitled "Regenerative Recovery After
Traumatic Brain Injury" has been reviewed by the US Department of
Defense and was deemed "of interest".
The Traumatic Brain Injury program is of high importance to the
US Department of Defense. It has been estimated that the total
numbers of soldiers afflicted with TBI is in excess of 135,000
veterans of the Iraq and Afghanistan wars, with approximately 5000
troops suffering moderate to severe head trauma. TBI within North
America is even more prevalent with an estimate of more than 1.5
million injuries per year, which includes an estimated 90,000 to
100,000 people who experience the onset of long-term
disability.
Dr. Allen Davidoff, Vice President, Product Development of SCT
stated "We are pleased that ongoing interactions and discussions
with the US Department of the Defense have resulted in a request
for a full proposal in support of the NTx®-265 program in TBI.
While we have no guarantee of success, this request is an
encouraging step forward for a program that is desperately needed
by patients who have little therapeutic options following this form
debilitating injury. "
As stated previously, the Company continues to advance as a
biotech company considering a range of options, with management
focusing its efforts on pursuing the end-of-Phase II meeting with
the FDA for the NTx®-265 stroke therapy, developing a similar
regimen for traumatic brain injury ( TBI) while reviewing
alternatives for pursuing multiple sclerosis ("MS") , as well as
various other opportunities.
About Stem Cell Therapeutics Corp.: Stem Cell Therapeutics Corp.
is a 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 brain and
nerve 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, 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.
Contacts: Stem Cell Therapeutics Corp. Alan Moore, PhD President
and CEO 403-245-5495 ext.224 amoore@stemcellthera.com Stem Cell
Therapeutics Corp. Angelika Goncalves DaSilva Operations Manager
403-245-5495 ext. 221 adasilva@stemcellthera.com
www.stemcellthera.com
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