SAN DIEGO, Nov. 14, 2013 (GLOBE NEWSWIRE) -- Medistem Inc. (OTCQB:MEDS), today announced that its shares of common stock are now listed on the OTC Markets Group's OTCQB marketplace. The company's shares were previously listed on the Pinksheets.
"Earlier this year, we undertook the task of becoming a fully reporting company and to uplist our shares from the Pinksheets to the OTCQB because we believe that greater transparency adds greater shareholder value," said Alan J. Lewis, Ph.D., Chief Executive Officer of Medistem. "Having accomplished these two objectives, our focus now shifts to beginning an FDA cleared Phase I clinical trial for Critical Limb Ischemia (CLI) in the US. Also, as we previously announced, we anticipate filing additional Investigational New Drug (IND) Applications with the Food and Drug Administration for Congestive Heart Failure (CHF) and Type 1 Diabetes."
About Medistem Inc.
Medistem Inc. is developing ERC-124, a universal stem cell product derived from the endometrium. ERC-124 possesses specialized abilities to stimulate new blood vessel formation and can differentiate into lung, liver, heart, brain, bone, cartilage, fat and pancreatic tissue. These unique properties have potential applications for treatment of Critical Limb Ischemia (CLI), Congestive Heart Failure (CHF), neurodegenerative diseases, liver failure, kidney failure, and diabetes. ERC-124 has been cleared by the FDA to begin a CLI clinical trial in the United States. In January 2012, the Company announced the initiation of its RECOVER-ERC (Non-Revascularizable IschEmic Cardiomyopathy treated with Retrograde COronary Sinus Venous DElivery of Cell TheRapy) clinical trial. This trial is being conducted at the Bakulev Scientific Center for Cardiovascular Surgery, Moscow, Russia. The trial (which is not under FDA's jurisdiction) is a 60 patient double blind, placebo controlled study evaluating safety and efficacy of ERC-124 in end stage CHF patients.
Certain statements herein may be forward-looking and involve risks and uncertainties. Such forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Medistem Inc. These can be identified by the use of forward‐looking words, such as "believes", "expects", "may", "intends", "anticipates", "plans", "estimates", or any other analogous or similar expressions intended to identify forward‐looking statements. These forward‐looking statements and estimates as to future performance, estimates, and other statements contained herein regarding matters that are not historical facts, are only predictions and actual events or results may differ materially. We cannot assure or guarantee that any future results described in this press release will be achieved, and actual results could differ materially as a result of a variety of factors, including the risks that a liquid and orderly market for the Company's common stock might not develop, the risk that clinical trials may not be successful and therapies might not have commercial success, the Company's need for additional capital, and other risk factors detailed in the Company's Securities and Exchange Commission filings. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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