Executive Changes at Stem Cell Therapeutics Corp.
November 30 2010 - 8:00AM
Marketwired
Stem Cell Therapeutics Corp. (TSX VENTURE: SSS) ("SCT" or the
"Company") today announced that, as per a previous press release
dated June 25, 2010, the consulting agreements with Alan Moore
(President & CEO) and Allen Davidoff (Vice President of Product
Development) will expire on December 31, 2010.
Allen Davidoff has accepted an offer from the Board of Directors
and will become the Company's Chief Scientific Officer. The Board
of Directors will immediately begin a search for a new President
and temporarily assume a more active role in managing the company
including the possibility of naming an interim CEO.
Dean Peterson, Chairman of SCT stated, "We wish to thank Alan
Moore for his past contributions and wish him all the best in his
future endeavors. We will take our time in selecting the right
leader for the company. We are committed and determined to build a
solid base for SCT and have some great opportunities ahead of
us."
About Stem Cell Therapeutics Corp: Stem Cell Therapeutics Corp.
is a Canadian 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 neurological 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 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 Davidoff, PhD CSO
403-245-5495 ext.226 adavidoff@stemcellthera.com Stem Cell
Therapeutics Corp. Angelika Goncalves DaSilva Operations Manager
403-245-5495 ext.221 adasilva@stemcellthera.com Stem Cell
Therapeutics Corp. Michael Cook CFO 403-245-5495 ext.229
mcook@stemcellthera.com www.stemcellthera.com
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