International Stem Cell Corporation (OTCBB:ISCO) (www.internationalstemcell.com),
a California-based stem cell therapeutics company, announced today with
great regret the untimely death of its CEO, Mr. Jeff Krstich. The
Chairman of the Board, Kenneth C. Aldrich has assumed the additional
responsibilities of Chief Executive Officer, effective immediately. Mr.
Aldrich was one of the original founders of the Company and had been CEO
until Mr. Krstich joined the Company as CEO in 2006.
Mr. Krstich died of an apparent heart attack on January 20, 2008. He was
60 years old.
"It is with deep regret that I announce the
passing of, not only a great business leader, but someone who was a good
friend as well," said Mr. Aldrich. "Jeff
shared ISCO's passion for pushing the bounds
of science; believing that advancement in stem cell research would soon
provide cures for many intractable human diseases and improve the
quality of life."
With the merging of the Chairman and CEO positions, the company will not
experience any operational disruption going forward. "We
are all shocked that Jeff would be taken at such a young age, but we are
determined to use this tragic event as motivation to vigorously pursue
stem-cell based therapeutic remedies that would help to fulfill Mr.
Krstich's dream,"
concluded Aldrich.
ABOUT INTERNATIONAL STEM CELL CORPORATION:
International Stem Cell Corporation (ISCO) is a California biotechnology
company focused on developing therapeutic and research products. ISCO's
technology, Parthenogenesis, results in the creation of
pluripotent human stem cell lines from unfertilized human eggs. ISCO
scientists also have created the first Parthenogenic homozygous stem
cell line (phSC-Hhom-4) that can be a source of therapeutic cells
that will not be immune rejected after transplantation into millions of
individuals of differing sexes, ages and racial groups. These
advancements offer the potential to create the first true "Stem
Cell Bank" and address ethical issues by
eliminating the need to use or destroy fertilized embryos. ISCO also
produces and markets specialized cells and growth media worldwide for
therapeutic research through its subsidiary Lifeline Cell Technology.
For more information, visit the ISCO website at: www.internationalstemcell.com
To subscribe to receive ongoing corporate communications please click on
the following link:
http://www.b2i.us/irpass.asp?BzID=1468&to=ea&s=0 Forward-Looking Statements Statements pertaining to future financial and/or operating results,
future growth in research, technology, clinical development and
potential opportunities for the company and its subsidiary, along with
other statements about the future expectations, beliefs, goals, plans,
or prospects expressed by management constitute forward-looking
statements. Any statements that are not historical fact (including, but
not limited to statements that contain words such as "will,""believes,""plans,""anticipates,""expects,""estimates,")
should also be considered to be forward-looking statements.
Forward-looking statements 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 and ability to obtain
future capital, and maintenance of intellectual property rights. Actual
results may differ materially from the results anticipated in these
forward-looking statements and as such 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. The company disclaims any
intent or obligation to update these forward-looking statements. |
