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Stem Cell Therapy International Appoints Dr. David L. Stark as President in Anticipation of the Upcoming Merger With Histostem, Ltd. of Korea


Stem Cell Therapy International, Inc.

2008-04-01 06:55:00

Stem Cell Therapy International Appoints Dr. David L. Stark as President in Anticipation of the Upcoming Merger With Histostem, Ltd. of Korea

TAMPA, FL and SEOUL, SOUTH KOREA–( EMWNews – April 1, 2008) – Stem Cell Therapy

International, Inc. (OTCBB: SCII) and Histostem Corp. (Korea Histostem).

Stem Cell Therapy International (SCII) announced today it has appointed Dr.

David L. Stark as president in anticipation of the upcoming merger with

Histostem of Korea, one of the world’s leading umbilical cord stem cell

blood banks and research companies in the field of stem cell treatments for

various illnesses. After the closing of the merger between SCII and

Histostem the name of the combined entities will be changed to AmStem

International Corporation and Dr. Stark will continue in his capacity as

president and member of the board of directors. Dr. Hoon Han of Histostem

will be chairman of the board and CEO of AmStem International.

“Dr. Stark is an internationally recognized research innovator,” explains

Calvin Cao, Chairman and CEO of SCII. Formerly the Director of the National

Institute of Clinical Research (NICR), Dr. Stark has been responsible for

the design, organization and implementation of clinical trials for

pharmaceutical and device companies — from multi-billion dollar

corporations to small, entrepreneurial start-ups. He has a broad

background in designing, conducting, and monitoring clinical trials of new

pharmaceuticals and devices and he will be able to use that experience in

assisting AmStem to pursue the filing of various stem cell treatment

applications with the U.S. FDA as well as assist in the worldwide marketing

of these stem treatments to physicians, hospitals and clinics in the

numerous countries interested in these treatment modalities.

Dr. Stark’s involvement as president will seek to establish AmStem

International as a worldwide leader in meeting the growing need for

transplant grade umbilical cord blood stem cells — which have been

identified as a potential treatment for more than 80 diseases ranging from

leukemia to sickle cell anemia. With over 80,000 umbilical cord blood units

already on hand in the current inventory of Histostem, Ltd., Dr. Stark will

work to assist Dr. Hoon Han, CEO of AmStem International, to oversee the

ongoing collection and preparation of donated umbilical cord blood in order

to maintain a valuable inventory of HLA (human leukocyte antigen) typed and

tested stem cells; all indexed in a dynamic new database platform to speed

the matching process. This current inventory of 80,000 umbilical cord blood

units in the “public bank” represents a potentially very valuable asset of

AmStem International since a single unit of public bank umbilical cord

blood has been known to be sold on world markets for as much as $25,000.

“Although this makes units held in cord blood banks among the world’s most

valuable commodities, we should not speculate about future value which

could be higher or lower than previous reported prices depending upon

various circumstances such as the length of time it takes the FDA to

approve stem cell procedures for use in the Unites States,” cautioned Dr.

Stark, who went on to observe, “We can afford to be patient since all of

the 80,000 units are in a cryobank so they are protected and can be used

many years from now, if necessary.”

Dr. Hoon Han, CEO and chairman of Histostem Ltd., expressed the strategic

value of having Dr. Stark as President of AmStem International Corp. “David

brings not just a knowledge of stem cells, but the ability to leverage his

knowledge of the FDA regulatory requirements to rapidly develop and market

this innovative approach to umbilical cord blood stem cell banking,

allowing us almost instantly to be a major competitor in the international

stem cell market.”

About AmStem International Corp.

AmStem International Corp., as the merged businesses of Stem Cell Therapy

International and Histostem, Ltd. will be known, intends to take its place

as a world leader in the research community with the introduction of a new

platform for developing contaminant-free human stem cells that will serve

as a catalyst for bringing new medical therapies to market.

About Histostem, Ltd.

Histostem, Ltd. started in Seoul, Korea in 2000. To date it has treated

more than 500 patients with stem cells and currently has 56 full time

employees and 28 part-time employees. Histostem’s intellectual property

portfolio consists of five patents that have been granted, and 6 patents

pending. A comprehensive list of Histostem’s achievements can be found at

the company website (click on English version

when entering the site).

Forward-Looking Statements. This press release contains “forward-looking

statements” within the meaning of Section 27A of the Securities Act of

1933, as amended, and Section 21E of the Securities Exchange Act of 1934.

The information in this news release includes certain forward-looking

statements that are based upon assumptions that in the future may prove not

to have been accurate and are subject to significant risks and

uncertainties, including statements as to the future performance of the

company. Although the company believes that the expectations reflected in

its forward-looking statements are reasonable, it can give no assurance

that such expectations or any of its forward-looking statements will prove

to be correct.


For more information, please contact Stem Cell Therapy International, Inc.

Calvin Cao
Chairman and CEO
T: 813-600-4088
E: [email protected]

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