OT Stem Cell Therapeutics Licenses Exclusive Rights to Clinical Cancer Stem Cell Program Corporate
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TORONTO, ONTARIO--(Marketwired - April 17, 2013) - Stem Cell Therapeutics Corp. (TSX VENTURE:SSS), a biopharmaceutical company developing cancer stem cell-related technologies, today announced the execution of a definitive license agreement with University Health Network ("UHN"), Toronto, Canada. The agreement, developed in collaboration with MaRS Innovation, provides Stem Cell Therapeutics ("SCT") with exclusive worldwide rights to an innovative clinical cancer stem cell program.
As announced on November 6, 2012, the technology licensed by SCT is based on Dr. Aaron Schimmer's discovery that an FDA-approved antibiotic, tigecycline, selectively targets leukemia cells and leukemic stem cells by inhibiting mitochondrial protein synthesis and thus shutting down the cells energy supply. A Phase I multicenter dose- escalation clinical trial in patients with relapsed or refractory acute myeloid leukemia (AML) is nearing completion and data are expected this summer. Dr. Schimmer will join Dr. John #$%$ as a scientific advisor to SCT. Furthermore, a clinical advisory board, chaired by Dr. Schimmer, will be assembled in the near term to guide and assist in the future development of the program.