Stem Cell Therapeutics Announces Appointment of Dr. Calvin R. Stiller as Chairman
January 30 2014 - 7:37AM
Marketwired
Stem Cell Therapeutics Announces Appointment of Dr. Calvin R.
Stiller as Chairman
TORONTO, ONTARIO--(Marketwired - Jan 30, 2014) - Stem Cell
Therapeutics Corp. (TSX-VENTURE:SSS)(OTCQX:SCTPF), an
immuno-oncology company developing cancer stem cell-related
therapeutics, is pleased to announce that its Board of Directors
has elected Dr. Calvin R. Stiller as Chairman of the Board. Dr.
Stiller has been a member of the Board since July 2011 and served
as Lead Director and Chair of the Governance and Nominating
Committee.
Dr. Stiller is well known in the biotechnology community having
served in various capacities in the public and private sector. He
was the founding Chair of Trillium Therapeutics, which recently
merged with Stem Cell Therapeutics, as well as Verio Therapeutics,
which was acquired by FATE Therapeutics (NASDAQ:FATE). He was also
the founding chair of Oracle Services Network, which he grew from
50 employees to over 800 at the time of its acquisition by SYKES
Corporation (NASDAQ:SYKE). Dr. Stiller also served on the Board of
Allelix Biopharmaceuticals and was instrumental in its very
successful merger with NPS Pharmaceuticals (NASDAQ:NPSP), where he
remained a director for several years. He currently serves on the
board of Revera, one of Canada's largest HealthCare companies,
where he chairs the Investment Committee. Dr. Stiller is recognized
as co-founder of the Ontario Institute for Cancer Research (of
which he is Chair), MaRS Discovery District (of which he is a
director), and the Canadian-California Cancer Stem Cell Initiative.
He is an Officer of the Order of Canada, a member of the Order of
Ontario, and a laureate of the Canadian Medical Hall of Fame.
"I am pleased to be asked to chair the Board of this most
exciting company that, in the past nine months, has emerged from
the shadows to become a potential leader in the area of
immunotherapy targeting cancer stem cells. The science behind the
assets of this company is truly spectacular and the quality of the
people responsible for the science, including Dr. John Dick, who
has been credited with the discovery of the leukemic cancer stem
cell and who serves on the company's Scientific Advisory Board, are
without peers. Management's ability to raise the unprecedented
amount of 33 million from some of the smartest investors on the
continent, largely on the back of a preclinical asset, is quite
remarkable. So, to be asked to Chair a company with first-class
scientific assets, a talented management team, a principled and
knowledgeable board, and backed by some of the shrewdest investors,
is a real honor."
Dr. Niclas Stiernholm, the company's President and CEO,
commented "Management is very pleased that Dr. Stiller has assumed
the Chairmanship. We worked well together in a highly successful
relationship at Trillium, and more recently during our time here at
Stem Cell Therapeutics, under his oversight as a member of the
Board and Lead Director. We look forward to a seamless path forward
for the company."
The company also announces that the Board of Directors has
granted options to purchase 200,000 common shares of the
Corporation to a newly appointed director. The options were issued
at an exercise price of $0.51 per share for a ten-year term. The
grant of options is subject to acceptance by the TSX Venture
Exchange.
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.comInvestor
Contact:ProActive CapitalJeff Ramson/Kirin Smith+1
646-863-6519jramson@proactivecapital.com /
ksmith@proactivecapital.com
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