TEMPE, Ariz.--(BUSINESS WIRE)--Sept. 15, 2006--Medistem Laboratories Inc. (OTCBB: MDSM; FWB: S2U), committed to the ethical development and commercialization of medical therapies utilizing adult stem cells, announced today that it has filed an application with the U.S. Patent Office for a patent for "stem cell therapy for cardiac valvular dysfunction."
Medistem's patent application, submitted by consulting research scientist Thomas E. Ichim, says the novel "invention relates to using stem cells, modified stem cells ... to substantially ameliorate, and in some cases induce a therapeutic benefit, to a patient suffering from a dysfunction of the mitral, aortic, tricuspid, or pulmonary valve."
The discovery of an apparent repair of an aortic valve occurred at the Institute for Cellular Medicine, the company's affiliated stem cell clinic located in San Jose, Costa Rica. "Significantly, the patient was being treated with adult stem cells for a different medical condition," said Dr. Fabio Solano, medical director of ICM.
"This is the kind of surprising intellectual property discovery that we had expected ICM to make," stated Dr. Roger Nocera, Medistem CMO and director.
The patent application was filed in August of 2006. There can be no assurance that the patent application will be approved, or if approved, that the invention will yield a commercially viable treatment.
Medistem has previously filed patent applications for the use of stem cells to treat other medical conditions, including erectile dysfunction and lower back conditions.
The Institute for Cellular Medicine (ICM) received its license to operate a stem cell bank and medical clinic from the Costa Rican Health Ministry in early August. The Institute's initial adult stem cell treatments have been to patients suffering from neurological conditions, such as ALS, stroke and cerebral palsy.
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. Medistem common stock is traded on the Frankfurt, Germany, stock exchange under the symbol S2U.
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This document does not constitute an offer to sell or a solicitation of an offer to buy any of our securities. Certain statements in this release may be "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. These forward-looking statements may include projections of matters that affect revenue, the ability to develop or license certain technologies; operating expenses or net earnings; projections of capital expenditures; projections of growth; hiring plans; plans for future operations; financing needs or plans; plans relating to the company's products and services; and assumptions relating to the foregoing.
Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking information.
Some of the important factors that could cause the company's actual results to differ materially from those projected in forward-looking statements made by the company include, but are not limited to, the following: technology development limitations, intense competition, risk of business interruption, management of rapid growth, need for additional financing, regulatory approvals and requirements, dependence on key personnel and research, management and other administrative costs.
This press release contains "forward-looking statements," including statements about Medistem's growth and future operating results, discovery and development of products, strategic alliances and intellectual property, as well as other matters that are not historical facts or information. These forward-looking statements are based on management's current assumptions and expectations and involve risks, uncertainties and other important factors, specifically including those relating to Medistem's ability to obtain additional funding, develop its stem cell technologies, achieve its operating objectives, and obtain patent protection for its discoveries, that may cause Medistem's actual results to be materially different from any future results expressed or implied by such forward-looking statements. Medistem undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
