International Stem Cell Corporation (OTCBB: ISCO) today announced that
it has named Linh Nguyen as Chief Financial Officer, effective October
3, 2011. She replaces Ray Wood, whose employment with the company will
be terminated as of September 30, 2011.
Ms. Nguyen has more than 17 years of experience in financial management
and accounting. Previously she served as Chief Financial Officer and
Corporate Secretary for International Lottery & Totalizator Systems,
Inc. ("ILTS"), a publicly-traded global software and system developer of
lottery and optical scan voting systems. As CFO at ILTS, her
responsibilities included managing all aspects of the accounting and
finance functions, international financial reporting and consolidation,
tax compliance, SEC reporting, and serving as a member of the executive
management team in executing strategic initiatives, formulating policies
and assessing financial viability of new business opportunities. Prior
to being named CFO, Ms. Nguyen held various other roles at ILTS,
including Director of Finance and Finance Manager. Earlier in her
career, Ms. Nguyen held accounting and financial management positions
with Phamatech, Inc., Osmonics, Academic Communication Associates, Inc.,
and AMN Healthcare Services, Inc.
"We are delighted to round out our leadership team with the addition of
Ms. Nguyen. She has a proven track record of implementing systems and
controls that improve operational efficiency while managing growth,"
said International Stem Cell's President and Chief Executive Officer
Andrey Semechkin. "Her experience in managing international business
programs will be invaluable as we expand our overseas partnerships and
global development initiatives. Linh's appointment continues our recent
success in strengthening the executive team at ISCO, which includes the
additions of Kurt May as Senior Vice President, and of Donna Queen to
manage our Lifeline Skin Care brand."
Ms. Nguyen received a Bachelors of Science in Business Administration
with a concentration in Accounting, from California State University,
San Marcos, and is a second year graduate student in the Master of
Science in Executive Leadership program at the University of San Diego.
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 for hundreds of millions of individuals of differing
genders, ages and racial background with minimal immune rejection after
transplantation. hpSCs offer 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 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