TORONTO, ONTARIO--(Marketwired - May 16, 2013) - Stem Cell Therapeutics Corp. (TSX VENTURE:SSS), a biopharmaceutical company developing cancer stem cell-related technologies, today announced that the Company's stock will trade on OTCQX International under the symbol "SCTPF" starting May 20. OTCQX is the premier U.S. Over-The-Counter marketplace, allowing international companies increased access and exposure to the U.S. market.
Roth Capital Partners will be the market maker for Stem Cell Therapeutics' stock and will also serve as the Company's Principal American Liaison (PAL) on OTCQX, responsible for providing guidance on OTCQX requirements and U.S. securities laws. Roth Capital Partners is an investment banking firm dedicated to the small-cap public market and has been an innovator in this market since its inception in 1984.
"The U.S. capital markets are critically important in assuring viability of life sciences companies internationally and we undertake this step as part of a deliberate and long-term strategy," commented Stem Cell Therapeutics' Chairman David Allan. "The admission to the OTCQX is one of several undertakings that the company committed to complete this year. The acquisition of Trillium, the in-licensing of the tigecycline program and the recent completion of dosing in the interstitial cystitis trial are among the others."
About Stem Cell Therapeutics:
Stem Cell Therapeutics Corp. (SCT), a Toronto-based biopharmaceutical company, is Canada's only public company dedicated to advancing cancer stem cell discoveries into novel and innovative cancer therapies. Building on over half a century of leading and groundbreaking Canadian stem cell research, the company is supported by established links to multiple Toronto academic institutes and oncology treatment centers that represent one of the world's most acclaimed cancer research hubs. SCT's lead clinical program, which targets a metabolic pathway in leukemia blasts and leukemic stem cells, is currently being evaluated in a multi-centre Phase I study in patients with relapsed or refractory Acute Myeloid Leukemia (AML). The Company also has two premier preclinical programs, SIRPaFc and a CD200 monoclonal antibody (mAb), which target two key immunoregulatory pathways that tumor cells exploit to evade the host immune system. SIRPaFc is an antibody-like fusion protein that blocks the activity of CD47, a molecule that is upregulated on cancer stem cells in AML and several other tumors. The CD200 mAb is a fully human monoclonal antibody that blocks the activity of CD200, an immunosuppressive molecule that is overexpressed by many hematopoietic and solid tumors. For more information, visit: www.stemcellthera.com
Caution Regarding Forward-Looking Information:
This press release may contain forward-looking statements, which reflect SCT's current expectation regarding future events. These forward-looking statements involve risks and uncertainties that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include changing market conditions; the successful and timely completion of pre-clinical and clinical studies; the establishment of corporate alliances; the impact of competitive products and pricing; new product development risks; uncertainties related to the regulatory approval process or the ability to obtain drug product in sufficient quantity or at standards acceptable to health regulatory authorities to complete clinical trials or to meet commercial demand; and other risks detailed from time to time in SCT's ongoing quarterly and annual reporting. Except as required by applicable securities laws, SCT undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.