Stem Cell Therapeutics Corp. Announces Commencement of MS Research Program
March 07 2011 - 6:25PM
Marketwired
Stem Cell Therapeutics Corp. (TSX VENTURE: SSS) ("SCT" or the
"Company") is pleased to announce today that the Multiple Sclerosis
(MS) phase II clinical trial is proceeding. This program will be
executed by the University of Calgary utilizing funding from the
Stem Cell Network, based in Ottawa. The financial commitment of SCT
is limited to providing the drug (prolactin) for the program at a
cost not expected to exceed $500,000. Access to funding makes this
program extremely cost effective for the Company as the total
clinical trial is expected to cost 4-5 times more than the cost of
the drug.
This decision reflects SCT's ongoing commitment to execute its
business plan to facilitate the value realization of its core
programs. The Company continues to advance its other high priority
programs, Stroke and Traumatic Brain Injury.
Recent research conducted at the University of Calgary -
Hotchkiss Brain Institute and McGill University has been
instrumental in providing important proof of concept data in animal
models of MS. In concept, prolactin acts to increase stem cells
within the central nervous system (CNS), and directs newly formed
oligodendrocyte precursor cells to mature and support
re-myelination of damaged CNS tissue. Our current knowledge
suggests that prolactin treatment may be beneficial to MS patients
as this new approach may modulate disease burden through
enhancements in re-myelination. Working closely with highly
recognized MS neurologists, at the Hotchkiss Brain Institute - MS
program, we hope to translate these basic research findings into a
potential MS treatment. For this reason SCT will be expediting
support for this exploratory phase II clinical trial in patients
with MS.
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. Allen Davidoff, PhD CSO
403-245-5495 ext. 226 adavidoff@stemcellthera.com Stem Cell
Therapeutics Corp. Michael Cook CFO 403-245-5495 ext. 229
mcook@stemcellthera.com Stem Cell Therapeutics Corp. Angelika
Goncalves DaSilva Operations Manager 403-245-5495 ext. 230
adasilva@stemcellthera.com www.stemcellthera.com
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