Health & Fitness
Health and Fitness
Health and Fitness 
Fri, May 13, 2011
International Stem Cell Corporation Announces Changes to Streamline Management Team
CARLSBAD, Calif.--([ BUSINESS WIRE ])--International Stem Cell Corporation (OTCBB:ISCO) announced today that it had taken steps to improve its effectiveness in both its domestic and international operations. Effective immediately, Brian Lundstrom, who has been dividing his time between domestic operations and heading ISCOa™s international partnering, has entered into a new contract with the Company that will allow him to focus exclusively on potential international partnering and therapeutic development programs in India, China, and elsewhere outside the U.S.
"This change will increase the potential for success in the various international activities Mr. Lundstrom has initiated over the last 18 months and I am confident the team of executives we have assembled can continue the work that needs to be done domestically without hesitation or interruption"
Dr. Andrey Semechkin, CEO of the Company, will now combine the duties of CEO and President into a single office and will, together with his executive team, assume responsibility for the U.S.
aThis change will increase the potential for success in the various international activities Mr. Lundstrom has initiated over the last 18 months and I am confident the team of executives we have assembled can continue the work that needs to be done domestically without hesitation or interruption,a said Dr. Semechkin.
About International Stem Cell Corporation
International Stem Cell Corporation is focused on the therapeutic applications of human parthenogenetic stem cells and the development and commercialization of cell-based research and cosmetic products. ISCO's core technology, parthenogenesis, results in the creation of pluripotent human stem cells from unfertilized oocytes (eggs). hpSCs avoid ethical issues associated with the use or destruction of viable human embryos. ISCO scientists have created the first parthenogenic, homozygous stem cell line that can be a source of therapeutic cells with minimal immune rejection after transplantation into hundreds of millions of individuals of differing genders, ages and racial background. This offers the potential to create the first true stem cell bank, UniStemCella". ISCO also produces and markets specialized cells and growth media for therapeutic research worldwide through its subsidiary Lifeline Cell Technology, and cell-based skin care products through its subsidiary Lifeline Skin Care. More information is available at [ www.internationalstemcell.com ].
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Forward-looking Statements
Statements pertaining to anticipated developments, partnering and product development plans, and other opportunities for the company and its subsidiaries, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to statements that contain words such as "will," "believes," "plans," "anticipates," "expects," "estimates,") should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products and the management of collaborations, regulatory approvals, need and ability to obtain future capital, application of capital resources among competing uses, and maintenance of intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties that affect the company's business, particularly those mentioned in the cautionary statements found in the company's Securities and Exchange Commission filings. The company disclaims any intent or obligation to update forward-looking statements.