TORONTO, ONTARIO--(Marketwired - June 4, 2013) - Stem Cell Therapeutics Corp. (TSX VENTURE:SSS) (SCTPF), a biopharmaceutical company developing cancer stem cell-related therapeutics, today announced that Dr. Aaron Schimmer has been awarded a prestigious national award for his groundbreaking cancer research for the second time in approximately a year.
Each year, the Canadian Cancer Society honours four exceptional Canadian scientists who have made significant contributions to progress in cancer research. This year, Dr. Schimmer is the recipient of the Bernard and Francine Dorval Prize, which is awarded to a promising investigator who began their independent research within the previous 10 years and who has made outstanding contributions to basic biomedical research. In 2012, Dr. Schimmer received the Till & McCulloch Award, presented each year by the Stem Cell Network in recognition of the year's most influential peer-reviewed article by a researcher in Canada.
Dr. Schimmer's laboratory is investigating the repurposing of several FDA-approved drugs with favourable pharmacokinetic and toxicological properties for use as novel anticancer agents. One of these drugs is tigecycline, a broad-spectrum antibiotic. Stem Cell Therapeutics ("SCT") recently acquired exclusive worldwide rights to an innovative clinical cancer stem cell program based on Dr. Schimmer's discovery that tigecycline targets and kills leukemia cells and leukemic stem cells. The company also appointed him to its scientific advisory board.
"We wish to congratulate Aaron for again having his world class research recognized with a national award," commented SCT Chief Executive Officer, Dr. Niclas Stiernholm. "This recognition is well deserved and we feel very fortunate to be associated with him and his exciting cancer stem cell research."
About Dr. Aaron Schimmer:
Dr. Schimmer is a staff physician in the department of Hematology/Oncology at Princess Margaret Cancer Centre, a senior scientist at Ontario Cancer Institute and the head of Experimental Hematology at the University of Toronto. Dr. Schimmer is developing novel therapeutics for the treatment of acute leukemia. He is a strong proponent of 'drug recycling' where off-patent drugs are screened and tested to see what effects they have on cancer targets. This approach to drug development can be successful and highly efficient, as the toxicity and side effects related to the use of the drug in humans is already documented and well-understood. Dr. Schimmer is the author of over 135 papers, and has over 20 patents and patent applications. He has advanced three drugs with novel mechanisms of action from his lab into clinical trials for patients with acute leukemia. He has received over 30 awards and honours for academic achievement including an award from the Ontario Ministry of Research and Innovation for the best young scientists. In 2007, he was named one of Canada's Top 40 Under 40. Dr. Schimmer received the 2012 Till & McCulloch Award, presented each year by the Stem Cell Network in recognition of the year's most influential peer-reviewed article by a researcher in Canada.
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 a group of Toronto academic research institutes and cancer treatment centers, representing one of the world's most acclaimed cancer research hubs. SCT's clinical stage programs include the recently in-licensed tigecycline program, which is currently being evaluated in a multi-centre Phase I study in patients with Acute Myeloid Leukemia (AML), as well as TTI-1612, a non-stem cell asset being tested in a 28-patient Phase I trial in interstitial cystitis ("IC") patients, which is near completion. 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.