Healthcare Industry News: Stem Cell Therapeutics Corp
News Release - May 30, 2008
Stem Cell Therapeutics Corp. Expands Executive Team by Appointing Thomas Franck as Vice President of Commercial PlanningCALGARY, ALBERTA--(Healthcare Sales & Marketing Network)--May 30, 2008 -- Stem Cell Therapeutics Corp. ("SCT") (CDNX:SSS.V ) is pleased to announce the appointment of Mr. Thomas Franck as Vice President of Commercial Planning.
Mr. Thomas R. Franck is a 30-year veteran of Procter & Gamble. He has pharmaceutical sales and marketing experience in the U.S., Canada, Latin America and Europe. He also has consumer marketing experience in the U.S. and Canada. For the last 10 years of his career at Procter & Gamble, he was in new products marketing for pharmaceuticals; and for the remaining 5 years he was Marketing Director (Department Head), Pharmaceuticals Research & Licensing & Acquisitions Planning Department with global responsibility for the market and financial assessment of both internal and external new drug product opportunities.
After Procter & Gamble, Mr. Franck became founder and Principal of Amelia Island Consulting (AIC) which is a health care consulting service that provides target market profiling, competitive analysis and estimates of global value for pharmaceuticals and medical devices. AIC specializes in early stage research and development projects and can aid in portfolio management and pre-launch professional relations. He has completed projects for several biotechnology companies.
Dr. Alan Moore, President and CEO of SCT commented as follows:
"We are very excited to add Mr. Thomas Franck to the SCT executive team given his extensive experience and skill as a sales and marketing manager. His current focus on development projects will play a key role with SCT's pre-Phase III planning. Mr. Franck's knowledge will assist in managing our pre-launch professional relations. He will also help to establish the valuation both of invidiual programs and the Company as a whole. This is an important time for SCT as we prepare for the commercial development of our stroke program."
SCT has issued 250,000 stock options to Mr. Franck at an exercise price of C$0.26 per share in connection with his appointment to the Executive team. These options will expire no later than May 26, 2013 subject to applicable vesting provisions. These options were awarded in accordance with the Corporations Stock Option Plan.
About NTx(TM)-265: NTx(TM)-265 is a therapeutic regimen of two approved and clinically well-defined drugs, human Chorionic Gonadotropin (hCG) and Erythropoietin (EPO), targeting the treatment of stroke. The twin objectives of the regimen are to stimulate the growth and differentiation of new neurons to replace the brain cells that were lost or damaged by the stroke, and importantly, to direct motor, visual and cognitive recovery after acute ischemic stroke. Animal studies have shown a significant recovery in motor function after receiving the NTx(TM)-265 regimen 24-48 hours post stroke. Encouraging clinical results in SCT's BETAS Phase IIa stroke trial were presented at the International Stroke Conference in February 2008, showing clinically relevant recovery in 8 of 8 patients who received the complete regimen. SCT is recruiting patients for the multi-centre, double-blind, placebo-controlled REGENESIS Phase IIb stroke study for NTx(TM)-265 with primary endpoints of efficacy. Patient enrollment is expected to be complete by the end of 2008 with top-line efficacy data expected to be released before the end of the first quarter of 2009.
About Stem Cell Therapeutics Corp.: Stem Cell Therapeutics Corp. is a Canadian public biotechnology company (CDNX:SSS.V ) 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. 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 and multiple sclerosis.
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.
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Source: Stem Cell Therapeutics
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