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
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