NEWARK, Calif., Dec. 2, 2014 (GLOBE NEWSWIRE) -- StemCells, Inc. (Nasdaq:STEM), a leader in the development of cell-based therapies for disorders of the central nervous system (CNS), hosted its first investor and analyst event in New York, on November 20, 2014.
The event was well-attended by biotech investing VIPs including representatives from Maxim Group, Piper Jaffray, Brinson Patrick Securities, Needham and Company, H.C. Wainwright and Company, Cantor Fitzgerald, Ladenburg Thalmann and MLV & Co, among others. In all, over 30 investors, bankers and analysts attended the event in person, with over 150 additional guests joining via live webcast.
"We are pleased to have had the opportunity to educate and inform the investment community on the significant progress we are making in clinical and preclinical programs with our proprietary HuCNS-SC® human neural stem cell platform technology," said Martin McGlynn, president and CEO of StemCells, Inc. "Both the quality and number of attendees at our event speak to the growing interest, by the investment community, in the work we are doing at StemCells, Inc. to develop a one-time treatment leading to a long-term benefit for patients suffering from intractable disorders of the CNS."
Experts and principal investigators from the StemCells, Inc. Phase I/II clinical trials in chronic spinal cord injury (SCI) and age-related macular degeneration (AMD) presented in-depth reports on the positive safety and preliminary efficacy data from both programs, as well as designs and milestone guidance for the Company's up and coming Phase II proof-of-concept studies. Additional highlights from the event included a series of brief videos that provided patient perspectives on participation in the SCI and AMD clinical trials, a lively question and answer session, and a keynote by Irving L. Weissman, M.D., Director of the Stanford Institute for Stem Cell Biology and Regenerative Medicine, Director of the Stanford Ludwig Center for Cancer Stem Cell Research and Scientific Advisory Board member of StemCells, Inc.
An archive of the webcast is available at www.stemcellsinc.com
About StemCells, Inc.
StemCells, Inc. is currently engaged in clinical development of its platform technology, HuCNS-SC® (purified human neural stem cells) as a potential treatment for disorders of the central nervous system (CNS). Interim data from the Company's Phase I/II clinical trial in thoracic spinal cord injury (SCI) shows measurable gains involving multiple sensory modalities and segments, including the conversion of 2 of 7 patients enrolled in the study with complete injuries (AIS A) converting to incomplete injuries (AIS B), post-transplant. Enrollment has recently commenced in the Company's Phase II clinical trial in cervical SCI. StemCells, Inc. has also completed enrollment and treatment in its Phase I/II clinical trial in geographic atrophy of age-related macular degeneration (GA-AMD), the most severe form of dry AMD, which is the leading cause of blindness in the elderly. Interim results for those subjects with twelve months duration following transplantation of HuCNS-SC cells into the eye, the Company reported a 70 percent reduction in the rate of disease progression as compared to the control (untreated) eye and a 65 percent reduction in the rate of disease progression as compared to the expected natural history of the disease. In a Phase I clinical trial in Pelizaeus-Merzbacher disease (PMD), a fatal myelination disorder in children, the Company showed preliminary evidence of progressive and durable donor-derived myelination in all four patients transplanted with HuCNS-SC cells. Further information about StemCells, Inc. is available at http://www.stemcellsinc.com.
Apart from statements of historical fact, the text of this press release constitutes forward-looking statements within the meaning of the U.S. securities laws, and is subject to the safe harbors created therein. These forward-looking statements speak only as of the date of this news release. The Company does not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. Such statements reflect management's current views and are based on certain assumptions that may or may not ultimately prove valid. The Company's actual results may vary materially from those contemplated in such forward-looking statements due to risks and uncertainties to which the Company is subject, including those described under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2013 and in its subsequent reports on Forms 10-Q and 8-K.
CONTACT: Greg Schiffman StemCells, Inc. Chief Financial Officer (510) 456-4128 Andrea N. Flynn, Ph.D. Russo Partners (646) 942-5631