TORONTO, ONTARIO--(Marketwired - July 23, 2013) - Stem Cell Therapeutics Corp. (TSX VENTURE:SSS)(OTCQX:SCTPF), a biopharmaceutical company developing cancer stem cell-related therapeutics, today announced the appointment of ProActive Capital Group as its new Capital Markets Advisory and Digital Media Strategies firm.
"We are very pleased to have retained the services of ProActive Capital Group," stated Stem Cell Therapeutics' Chief Executive Officer, Dr. Niclas Stiernholm. "They are an extremely focused firm with an excellent reputation in the industry and we are excited to adopt an effective capital markets and digital media program. With upcoming key milestones quickly approaching, we feel that now is the opportune time to embark on a significant new and expanded program so that we can achieve a fair valuation that clearly reflects the intrinsic value of our scientific programs."
"We are delighted to have been selected by Stem Cell Therapeutics, a leading company in the cancer stem cell space," stated Jeff Ramson, Founder and CEO of ProActive Capital Group. "We look forward to developing and implementing a quality capital markets and digital media strategy to increase SCT's visibility among the investment community. We strongly believe that the company has significant prospects as it executes its growth strategy."
The Company also announced that the board of directors has approved the adoption of a Deferred Share Unit plan (the "DSU Plan") subject to the approval of the shareholders of the Company and acceptance by the TSX Venture Exchange. The DSU Plan provides an alternative non-cash form of compensation to satisfy annual and special bonuses payable to directors and executive officers, and to satisfy fees that may be payable to directors for acting as directors of the Company. This form of compensation promotes a greater alignment of interests amongst directors and executive officers and the Company's shareholders since DSU Units are ultimately exchanged for common shares of the Company. The maximum number of common shares that may be reserved for issuance under the DSU Plan is set at 2,000,000 common shares.
About Stem Cell Therapeutics:
Stem Cell Therapeutics Corp. (SCT), a Toronto-based biopharmaceutical company, is Canada's only public company dedicated to 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 Toronto academic research institutes and cancer treatment centers, representing one of the world's most acclaimed oncology research hubs. SCT's clinical stage programs include the recently in-licensed tigecycline program, 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-stem cell asset that recently completed a 28-patient Phase I trial in interstitial cystitis ("IC") patients. The Company also 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. 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.
