Stem Cell Therapeutics Announces Resignation of Director
January 27 2014 - 6:00AM
Marketwired
Stem Cell Therapeutics Announces Resignation of Director
TORONTO, ONTARIO--(Marketwired - Jan 27, 2014) - Stem Cell
Therapeutics Corp. (TSX-VENTURE:SSS)(OTCQX:SCTPF), an
immuno-oncology company developing cancer stem cell-related
therapeutics, announces that effective today, Mr. David Allan has
resigned from its board of directors.
"The mandate given
to me to rebuild and re-establish Stem Cell Therapeutics as a
viable company with a promising future was accomplished with the
establishment of a board of exceptional recognition, the
acquisition of Trillium Therapeutics in April 2013, the licensing
of the clinical asset, tigecycline, from University Health Network
and the co- incident raising of capital to support the
reconstructed company," said David Allan, the Chairman of the
company. "With that mandate complete and with management having
concluded an exemplary financing of $33 million in 2013, largely as
a consequence of the recognition by established US life-sciences
investment funds of the prospective value of the company's
CD47-targeting asset, it is positioned to become an important
contender in immuno-oncology," he added. "I step down from the
board with my mission concluded and with the highest expectations
for the future of the company."
The Board of
Directors wishes to acknowledge the extraordinary work by Mr. Allan
in achieving the transformation of the company over the past two
years. They commented, "There are very few individuals who could
have executed the vision that David Allan had when he took over the
company during its most difficult of times. It now remains our
responsibility to complete this vision."
"The management
team, research staff, and I personally, are grateful for the
opportunity provided by the merger that David spearheaded. We are
committed to achieve its full potential," commented Stem Cell
Therapeutics' President and CEO, Dr. Niclas Stiernholm.
The Company will
announce a Chair replacement in the near future.
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. Building on over half a century of leading and
groundbreaking Canadian stem cell research, the company is
supported by established links to a group of prominent Toronto
academic research institutes and cancer treatment centers,
representing one of the world's most acclaimed cancer research
hubs. 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.
Stem Cell Therapeutics Corp.James ParsonsChief Financial
Officer+1 416 595
0627jparsons@stemcellthera.comwww.stemcellthera.comProActive
CapitalJeff Ramson/Kirin SmithInvestor Contact+1
646-863-6519jramson@proactivecapital.comksmith@proactivecapital.com
Sunvest Minerals Corp (TSXV:SSS)
Historical Stock Chart
From May 2024 to Jun 2024
Sunvest Minerals Corp (TSXV:SSS)
Historical Stock Chart
From Jun 2023 to Jun 2024