International Stem Cell Corporation (OTCBB:ISCO) (www.internationalstemcell.com),
a California-based, early-stage stem cell therapeutics company,
announced today that Paul V. Maier and Edward O. Hunter have joined its
Board of Directors, effective close of business July 19, 2007.
International Stem Cell Corporation's focus is
on the development of stem cell based treatment of diabetes, liver
disease and diseases of the retina, and providing specialized cells and
media to others for cell-based research. The company has developed a
technology and has created new and unique stem cell lines, called
parthenogenetic stem cells, or phESC, using unfertilized human eggs. It
maintains corporate and research facilities in Oceanside, California;
production and product development in Walkersville, Maryland; and
maintains collaboration with a major research facility in Moscow, Russia.
Mr. Hunter brings to International Stem Cell Corporation more than 30
years experience in International Law, Corporate Governance and best
practices. An attorney with Robinson & Robinson LLP in Irvine,
California since 2002, he currently serves as a director of En Pointe
Technologies, Inc. (NASDAQ:ENPT), where he serves on the Audit and
Compensation Committees, as well as a non-US private equity funded
corporation, Ovex Technologies (Pvt.) Limited. He has advised or served
on numerous private company and nonprofit boards as well.
Mr. Hunter has worked at the SEC in Washington, D.C., was in-house legal
counsel from 1974 to 1982 at General Motors Corporation in Detroit,
moved to Toyota Motors in Torrance, California from 1982 through 1990,
and practiced with the law firm of LeBoeuf, Lamb, Green & MacRae, a
large multi-national firm from 1991 through 2000. He earned his JD with
honors from The George Washington University National Law Center in
Washington, DC, and a BA with honors from the University of Utah.
Mr. Maier brings to ISC over 20 years of experience as a senior
executive in biotechnology and pharmaceutical companies. Mr. Maier is
currently an independent financial consultant.
Previously, Mr. Maier was Senior Vice President and Chief Financial
officer of Ligand Pharmaceuticals, Inc. (NASDAQ:LGND) a commercial stage
biopharmaceutical company, a position he held from 1992 to 2007. From
1990 to 1992, Mr. Maier served as Vice President, Finance of DFS West, a
division of DFS Group, LP a private multinational retailer. From 1984 to
1990, Mr. Maier was employed by ICN Pharmaceuticals, a pharmaceutical
and biotechnology research products company, where he held various
executive positions in finance and general management in ICN as well as
SPI Pharmaceuticals, a publicly held subsidiary. Mr. Maier has served on
the boards of public and private companies. Mr. Maier received an MBA
from Harvard Business School and a BS from Pennsylvania State University.
"Mr. Hunter and Mr. Maier bring to
International Stem Cell expertise in areas that will help guide our
company through growth, including Corporate Governance, international
strategy, financing, corporate development, mergers and acquisitions,
strategic partnerships, product licensing and commercialization
activities," said Kenneth Aldrich, Chairman. "Both
individuals are vital additions to our Board."
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calls, SEC filings, profiles, investor kits, News Alerts and other
pertinent information please click on the following link: http://www.b2i.us/irpass.asp?BzID=1468&to=ea&s=0 ABOUT INTERNATIONAL STEM CELL CORPORATION:
International Stem Cell is a biotechnology company currently focused on
developing therapeutic and research products. In the area of therapeutic
product development, ISCO's objective is to create an unlimited source
of human cells for use in the treatment of several diseases, including
diabetes, liver disease and retinal disease through cell transplant
therapy. In furtherance of this objective, ISCO has developed
pluripotent human stem cells from unfertilized human eggs, and
techniques to cause those stem cells to be "differentiated" into the
specific cell types required for transplant. It has developed
manufacturing protocols to produce the cells without contamination with
animal by-products, a characteristic likely to be important in meeting
U.S. Food and Drug Administration requirements. ISCO also provides the
specialized cells and growth media needed for therapeutic cell
transplantation research to academic and commercial researchers in
related fields. For more information, visit the ISCO website at: www.internationalstemcell.com.
FORWARD LOOKING STATEMENT
This news release contains forward-looking statements relating to the
business of ISCO and its subsidiary. Investors are cautioned that such
forward-looking statements regarding ISCO, its technology, clinical
development and potential applications, constitute forward-looking
statements that involve risks and uncertainties, including, without
limitation, risks inherent in the development and/or commercialization
of potential products, uncertainty in the results of clinical trials or
regulatory approvals, need to obtain future capital, and maintenance of
intellectual property rights. Actual results may differ materially from
the results anticipated in these forward-looking statements.
Forward-looking statements in this press release should be evaluated
together with the many uncertainties that affect the company's business,
particularly those mentioned in the cautionary statements found in the
company's Securities and Exchange Commission filings. International Stem
Cell Corporation disclaims any intent or obligation to update these
forward-looking statements.
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