Andrey Semechkin, Ph.D., CEO of International Stem Cell Corporation
(OTCBB:ISCOE) ("ISCO") announced today that Kurt May, a highly
experienced senior business executive and biotechnology entrepreneur, is
concluding his service as a faculty member at the University of San
Diego's School of Business Administration and is joining ISCO as a
Senior Vice President.
Mr. May's duties will include mergers and acquisitions and development
of new international collaborations, and he will work directly with Dr.
Semechkin in implementing the Company's business model of combining
cutting-edge scientific research and building multiple revenue streams
to support that research.
Prior to joining ISCO, Mr. May was a senior executive with GTE
Corporation, a Fortune 50 company, where he enjoyed 23 years of
progressive management experience. Mr. May then went on to serve as
Executive Vice President and Chief Operating Officer with PriceSmart
Inc. Since 2001 Mr. May has founded and led a privately owned biotech
company, Psynomics Inc., as CEO. Psynomics Inc. is a spin out of the
University of California San Diego, where Mr. May served as a faculty
member and Assistant Dean of the Rady School of Management from 2005
until 2009.
"Mr. May strengthens an accomplished management team at ISCO, and I am
delighted that we attracted a professional of his caliber to our
Company," said ISCO'S CEO, Dr. Semechkin.
About International Stem Cell Corporation
International Stem Cell Corporation is focused on the therapeutic
applications of human parthenogenetic stem cells (hpSCs) 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, 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, competition,
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 Andrey
Semechkin, PhD CEO & President 760-940-6383 aes@intlstemcell.com or: Lippert/Heilshorn
& Associates Don Markley, 310-691-7100 dmarkley@lhai.com |