MDSM News Medistem's International Affiliate ICM Granted License to Operate Adult Stem Cell Bank and Clinic; Opening of Pioneering Facility Represents Threshold Event in Medistem's Business Plan to Deliver Stem Cell Therapies
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Aug. 10, 2006--Medistem Laboratories, Inc. (OTCBB:MDSM)(FWB:S2U), committed to the ethical development of next-generation medical therapies from non-controversial adult stem cell sources, has announced that its affiliate, the Institute for Cellular Medicine (ICM), has received approval from the Costa Rican Health Ministry to begin operations of its adult stem cell bank and clinic.
With the state-of-the-art stem cell bank and clinic now open, ICM will begin working hand-in-hand with medical doctors in the treatment of patients with stem-cell therapies based on Medistem's proprietary technologies. The ICM lab will apply Medistem's proprietary adult stem cell technologies that can be sourced from umbilical cords, placentas, fat, bone marrow, and muscle.
The opening of the ICM bank and clinic represents a critical milestone in Medistem's primary business plan to develop and deliver pioneering stem cell treatments on a fee-for-service basis through its international affiliates at facilities worldwide. Under its strategic business plan, Medistem with its affiliates plans to create potentially valuable intellectual property in the field of stem cell medicine.
The ICM laboratory will be one of the first stem cell banks in Latin America to produce the adult stem cells necessary for the development of stem cell based medical treatments. "We are very excited to be able to use Medistem's stem cell technology to produce stem cells for use by the medical community," said Dr. Fabio Solano, Medical Director of ICM. "We believe their technology holds a great deal of promise in the creation of important therapeutic solutions for seriously debilitating diseases."
The stem cell bank and clinic will work with the medical community in the treatment of patients with stroke, cerebral palsy and other neurological disorders. ICM also intends to develop treatments for a range of other health care needs, including cardiovascular disease.
Under a licensing agreement with ICM, which is controlled by Medistem's Chief Executive Officer, Medistem granted a license to ICM to use certain of its intellectual property and agreed to fund all necessary operating expenses in exchange for certain revenues and gross profits involving both adult stem cells and non-stem cell based activities.
More information can be found on ICM's website at www.cellmedicine.com, or by calling 1-800-980-STEM.
About Medistem Laboratories, Inc.
Medistem Laboratories is an innovative biotechnology company committed to the creation, licensing and commercialization of advanced medical therapies based on non-controversial adult stem cells. The Company intends to use adult stem cells generated from muscle, bone marrow and fat of adult patients seeking treatment, as well as from full-term, healthy placentas and umbilical cords, which the Company believes to be non-controversial sources of stem cells. The Company's business strategy calls for the establishment of a series of clinics and laboratories around the world to deliver unprecedented, next-generation cell therapies to help millions of patients. For more information on Medistem please visit http://www.trilogy-capital.com/tcp/medistem/. Medistem common stock is traded on the Frankfurt, Germany stock exchange under the symbol S2U.
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