International Stem Cell Corporation (OTCBB:ISCO) announced today that it
had taken steps to improve its effectiveness in both its domestic and
international operations. Effective immediately, Brian Lundstrom, who
has been dividing his time between domestic operations and heading
ISCO's international partnering, has entered into a new contract with
the Company that will allow him to focus exclusively on potential
international partnering and therapeutic development programs in India,
China, and elsewhere outside the U.S.
Dr. Andrey Semechkin, CEO of the Company, will now combine the duties of
CEO and President into a single office and will, together with his
executive team, assume responsibility for the U.S.
"This change will increase the potential for success in the various
international activities Mr. Lundstrom has initiated over the last 18
months and I am confident the team of executives we have assembled can
continue the work that needs to be done domestically without hesitation
or interruption," said Dr. Semechkin.
About International Stem Cell Corporation
International Stem Cell Corporation is focused on the therapeutic
applications of human parthenogenetic stem cells and the development and
commercialization of cell-based research and cosmetic products. ISCO's
core technology, parthenogenesis, results in the creation of pluripotent
human stem cells from unfertilized oocytes (eggs). hpSCs avoid ethical
issues associated with the use or destruction of viable human embryos.
ISCO scientists have created the first parthenogenic, homozygous stem
cell line that can be a source of therapeutic cells with minimal immune
rejection after transplantation into hundreds of millions of individuals
of differing genders, ages and racial background. This offers the
potential to create the first true stem cell bank, UniStemCell™. ISCO
also produces and markets specialized cells and growth media for
therapeutic research worldwide through its subsidiary Lifeline Cell
Technology, and cell-based skin care products through its subsidiary
Lifeline Skin Care. More information is available at www.internationalstemcell.com.
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Forward-looking Statements
Statements pertaining to anticipated developments, partnering and
product development plans, and other opportunities for the company and
its subsidiaries, 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 and the management of
collaborations, regulatory approvals, need and ability to obtain future
capital, application of capital resources among competing uses, 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 forward-looking statements.
International Stem Cell Corporation Kenneth
C Aldrich, Chairman 760-940-6383 kaldrich@intlstemcell.com or Lippert/Heilshorn
& Associates Don Markley 310-691-7100 dmarkley@lhai.com |