Stem Cell Therapeutics Corp. Announces Funding of the Traumatic Brain Injury (TBI) Clinical Study and Issuance of Stock Options
August 30 2010 - 8:00AM
Marketwired
Stem Cell Therapeutics Corp. ("SCT" or the "Company") (TSX VENTURE:
SSS) wishes to announce budgetary approval of the SCT-sponsored
investigator-lead Phase IIa study entitled "A Phase IIa, Single
Center, Open Label Study to Characterize the Safety of Human
Chorionic Gonadotrophin (hCG) and Epoeitin Alpha (EPO) in Traumatic
Brain Injury". After strategic discussions between management and
the Board of Directors a decision was made to go forward with the
TBI clinical study. SCT will provide the funding necessary to
complete the enrollment of 10 TBI patients in a single center open
label study, lead by Dr. David Zygun, to characterize the safety of
hCG and EPO in traumatic brain injury. A series of efficacy
endpoints are part of the trial design in order to access various
aspects of neurological status.
Dr. Alan Moore, President and CEO of SCT said "We are excited to
fund this study, which is a significant milestone, and demonstrates
the Company's commitment to the advancement of our programs. This
is an important step for SCT as we move forward and highlights our
dedication to prospering in the biotechnology area. We are in the
process of evaluating all our programs and plan to make
announcements as decisions are made."
The Company also wishes to announce the issuance of stock
options to the directors of the Company. SCT has issued an
aggregate of 1,550,000 stock options to three of the Company's
Board of Directors at an exercise price of C$0.10 per share. These
options will expire no later than August 27, 2015 subject to
applicable vesting provisions. These options were awarded in
accordance with the Company's Stock Option Plan.
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
Phone: 403-245-5495 ext. 221 adasilva@stemcellthera.com
www.stemcellthera.com
Sunvest Minerals Corp (TSXV:SSS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Sunvest Minerals Corp (TSXV:SSS)
Historical Stock Chart
From Jul 2023 to Jul 2024