Stem Cell Therapeutics Corp. is pleased to announce that its Board of Directors has elected Dr. Calvin R. Stiller as Chairman of the Board.
Dr. Stiller is well known in the biotechnology community having served in various capacities in the public and private sector. He was the founding Chair of Trillium Therapeutics, which recently merged with Stem Cell Therapeutics, as well as Verio Therapeutics, which was acquired by FATE Therapeutics (NASDAQ:FATE). He was also the founding chair of Oracle Services Network, which he grew from 50 employees to over 800 at the time of its acquisition by SYKES Corporation (NASDAQ:SYKE). Dr. Stiller also served on the Board of Allelix Biopharmaceuticals and was instrumental in its very successful merger with NPS Pharmaceuticals (NASDAQ:NPSP), where he remained a director for several years. He currently serves on the board of Revera, one of Canada's largest HealthCare companies, where he chairs the Investment Committee. Dr. Stiller is recognized as co-founder of the Ontario Institute for Cancer Research (of which he is Chair), MaRS Discovery District (of which he is a director), and the Canadian-California Cancer Stem Cell Initiative. He is an Officer of the Order of Canada, a member of the Order of Ontario, and a laureate of the Canadian Medical Hall of Fame.
"I am pleased to be asked to chair the Board of this most exciting company that, in the past nine months, has emerged from the shadows to become a potential leader in the area of immunotherapy targeting cancer stem cells. The science behind the assets of this company is truly spectacular and the quality of the people responsible for the science, including Dr. John Dick, who has been credited with the discovery of the leukemic cancer stem cell and who serves on the company's Scientific Advisory Board, are without peers. Management's ability to raise the unprecedented amount of 33 million from some of the smartest investors on the continent, largely on the back of a preclinical asset, is quite remarkable. So, to be asked to Chair a company with first-class scientific assets, a talented management team, a principled and knowledgeable board, and backed by some of the shrewdest investors, is a real honor."
Dr. Niclas Stiernholm, the company's President and CEO, commented "Management is very pleased that Dr. Stiller has assumed the Chairmanship. We worked well together in a highly successful relationship at Trillium, and more recently during our time here at Stem Cell Therapeutics, under his oversight as a member of the Board and Lead Director. We look forward to a seamless path forward for the company."
The company also announces that the Board of Directors has granted options to purchase 200,000 common shares of the Corporation to a newly appointed director. The options were issued at an exercise price of $0.51 per share for a ten-year term. The grant of options is subject to acceptance by the TSX Venture Exchange.