TAMPA, FL -- 11/05/09 --
Stem Cell Therapy International Inc. (OTCBB: SCII) and its soon to be subsidiary, Histostem Ltd. of South Korea
("Histostem"), announced that they recently supplied hematopoietic stem
cells to The Queen Mary Hospital of the University of Hong Kong, China, for
treatment of Leukemia patients. As reported October 29, 2009 in the Korean
Medical Association, Histostem has become the first Korean company in the
stem cell market to provide this type of hematopoietic stem cell -- derived
from umbilical cord blood -- for transplantation in non-blood related
patients. This makes Korea only the sixth nation in the world to export
stem cells for international research and treatment and further illustrates
Histostem's role as a leader in the stem cell industry.
David Stark, Stem Cell Therapy's President and CEO, stated, "This is just
the latest success by Histostem, which in the past has also supplied stem
cells for research to the University of California San Francisco, Beijing
University China, and universities in Japan and Thailand."
He added, "We are increasing our vast repository and supply chain to meet
existing worldwide demand for our accredited, certified cell line, and will
further expand our market reach given our position as one of the world's
largest cord blood repositories."
Dr. Han Hoon, President and Founder of Histostem, said, "As a doctor, my
first concern is for the well being of my patients. The first Hong Kong
patient will be treated for Chronic Myelogenous Leukemia. We have a
significant opportunity to distribute our stem cells to patients with
incurable diseases around the world and to scientifically evaluate the
effectiveness of stem cell treatments."
Recently, Histostem was awarded both US and EU patents for a primary
technology of extracting and cultivating mesenchymal stem cells from fresh
and cryopreserved umbilical cord blood. These patents, combined with
Histostem's established supply chain, extensive repository, show that
Histostem's public cord blood banking system is among the leaders in the
marketplace. Histostem owns and stores at its state of the art facility in
Korea, over 85,000 ethically collected and well documented cord blood
units.
Andrew Norstrud, CFO of SCII, said, "Histostem is poised to be the top
enterprise in the international stem cell market, which is currently
experiencing a 25% annual growth rate from approximately $1.8 billion in
2009 to an estimated $3.5 billion in 2012 according to Research Impact
Technologies (May, 2008). We have a significant advantage with the size of
our repository in tissue matching of patients and for specific research,
which will allow us to eventually become a major supplier of cord blood and
stem cells."
He added, "This new channel demonstrates that we are a major player in this
market, with the distribution channels, academic connections and
credentials to supply a proprietary line of stem cell products for research
and -- where local regulations permit -- the treatment of disease."
About Stem Cell Therapy International, Inc.
Stem Cell Therapy International, Inc. (OTCBB: SCII) is in the field of
regenerative medicine. SCII (soon to have its name changed to AmStem
Corporation) is a company devoted to the treatment of patients with stem
cell transplantation therapy as well as providing the supplies of
biological solutions containing new lines of stem cell products.
About AmStem International Corporation
AmStem is a new biotechnology company based in Northern California, in the
watershed of stem cell innovation fueled by President Obama's recent
announcement to lift Federal funding limitations for stem cell research.
AmStem provides biotherapeutic and cosmetic stem cell products, stem cell
collection and storage know-how, and access to nanotechnology vital to
cutting edge stem cell research. Its web site is under construction at
www.amsteminc.com.
About Histostem Co. Ltd.:
Histostem was founded in Seoul, Korea in 2000, to date it has treated more
than 500 patients with stem cells and currently has approximately 50
full-time employees and several part-time employees. Histostem's
intellectual property portfolio consists of six patents that have been
granted and 5 patents pending. To its knowledge Histostem is one of the
very few stem cell companies in the world currently earning several million
dollars in income from its products and technology. A comprehensive list of
Histostem's achievements can be found at the company's website
http://www.histostem.co.kr (click on English version when entering the
site).
Forward-Looking Statements
Some of the statements included in this press release, particularly those
anticipating future clinical and business prospects for Stem Cell Therapy
International, Inc., may be forward-looking statements that involve a
number of risks and uncertainties. For those statements, we claim the
protection of the safe harbor for forward-looking statements contained in
the Private Securities Litigation Reform Act of 1995. Among the factors
that could cause our actual results to differ materially are the following:
our ability to obtain necessary capital, our ability to successfully
complete the merger, successfully complete clinical trials; our ability to
meet anticipated development timelines, our ability to establish global
market for the cord blood cells, clinical trial results, successfully
consummate future acquisitions, manufacturing capabilities or other
factors; and other risk factors identified from time to time in our reports
filed with the Securities and Exchange Commission. Any forward-looking
statements set forth in this press release speak only as of the date of
this press release. We do not intend to update any of these forward-looking
statements to reflect events or circumstances that occur after the date
hereof.
CONTACTS:
Stem Cell Therapy International, Inc.
(813) 283-2556
Investor relations:
Jennifer Belodeau/John Nesbett
Institutional Marketing Services (IMS)
203.972.9200
IR@amsteminc.com
David Stark, CEO
DStark@amsteminc.com
Andrew Norstrud, CFO
Anorstrud@amsteminc.com
