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CALGARY, ALBERTA--(Marketwire - May 18, 2011) - Stem Cell Therapeutics Corp. (TSX VENTURE:SSS) ("SCT" or the "Company") is pleased to announce today that it has been granted a patent by the U.S. Patent and Trademark Office -U.S. Patent 7,943,376- entitled, "Platelet derived growth factor (PDGF)-derived neurospheres define a novel class of progenitor cells." The claims contained within this issued patent cover methods of using PDGF to produce neural progenitor populations which can differentiate into neurons and oligodendrocytes but not astrocytes. The use of PDGF-enriched progenitor cells can be used to treat or ameliorate neural diseases or conditions associated with neuron or oligodendrocytes loss or dysfunction, such as Stroke, Multiple Sclerosis, Traumatic brain injury, Parkinson's Disease and Alzheimer's Disease.
Dr. Allen Davidoff, SCT's Chief Scientific Officer, commented as follows:
"PDGF derived neurons are a cell type that appear to be well suited for the treatment of Parkinson's Disease and potentially for other chronic neurologic disease's. This issued patent continues to add value to our intellectual property (IP) and demonstrates SCT ongoing commitment to the protection and development of its novel IP in the field of central nervous system disease. "
About Stem Cell Therapeutics Corp.: Stem Cell Therapeutics Corp. is a 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 brain and nerve 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 Stroke, 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.
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