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.
Contacts: Stem Cell Therapeutics Corp. Mr. David Allan Executive
Chairman DAllan@StemCellThera.com
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