Letter Describes Capital Funding, Strengthening of Senior
Management Team, Agreement with Cytograft Tissue Engineering, Positive
Results from Animal Trials, and Other Developments International
Stem Cell Corporation (OTCBB:ISCO),
the first company to perfect a method of creating human stem cells from
unfertilized eggs, has issued a letter to its shareholders. To view the
shareholder letter in its entirety, please follow the link to the
company's website: http://www.internationalstemcell.com/shareholderletter.htm.
In the letter, International Stem Cell CEO and Chairman, Kenneth Aldrich
updates shareholders on the company's continued efforts to increase
shareholder value related to its key initiatives and developments, which
include:
-
The Company continues to lead in the development of human
parthenogenetic stem cell ("hpSC") research. ISCO has made major
strides in deriving cells that may be useful in the treatment of liver
disease and in the creation of human corneal tissue both as a
potential therapeutic product for corneal disease and as an
alternative to animal testing to assess the safety of drugs and
consumer products.
-
$5 million investment commitment with a biotechnology-focused fund
announced in July; funding expected to be in tranches, with first $1.5
million expected in September. Additional $1 million tranche funded on
schedule under previously announced preferred stock offering, and over
$500,000 in private common stock sales funded during first 6 months of
2009
-
Senior management team strengthened to provide greater capacity and
flexibility as company expands its therapeutic and commercial
activities
-
Positive early results reported in May from animal trials designed to
improve photorefractive keratectomy (PRK), a form of corrective laser
eye surgery that offers an improved alternative to LASIK
-
March 2009 agreement with Cytograft Tissue Engineering to design
custom cell culture medium to cultivate living human vascular grafts
"Viewed from a scientific, political, managerial, and financial
perspective, the past six months have been a vibrant and compelling time
in our corporate history," says Mr. Aldrich. "The company remains
committed to its vision of creating the means to manufacture, bank, and
provide cells for patients that need them, on demand, at low cost,
without the risk of immune rejection. We look forward to our
shareholders reviewing this update, thank them for their steadfastness
and support, and look forward to our shared work in the months and years
ahead."
ABOUT INTERNATIONAL STEM CELL
CORPORATION (ISCO.OB)
International Stem Cell Corporation 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 have created the first Parthenogenetic homozygous stem
cell line (phSC-Hhom-4) that can be a source of therapeutic cells
that will minimize immune rejection after transplantation into hundreds
of 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.
For more news and information on International Stem Cell Corporation
please visit www.IRGnews.com/coi/ISCO
where you can find the CEO's video, a fact sheet on the company,
investor presentations, and more. FORWARD-LOOKING STATEMENTS: Statements pertaining to expected future financial and/or operating
results, anticipated funding, future research, technology and clinical
development plans 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 completion of funding
commitments, 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.
Key Words: Stem Cells, Biotechnology, Parthenogenesis
International Stem Cell Corporation Kenneth C. Aldrich, Chairman,
CEO kaldrich@intlstemcell.com 760-940-6383 or The
Investor Relations Group 212-825-3210 Investor Relations: Adam
S. Holdsworth aholdsworth@investorrelationsgroup.com or Media
Relations: Laura Colontrelle lcolontrelle@investorrelationsgroup.com |