Increasing Acceptance of Umbilical Cord Blood Stem Cells as a Curative
Therapy Driving Growth
ARCADIA, Calif., Oct. 3 /PRNewswire/ -- StemCyte, Inc. has been named to Deloitte's prestigious Technology Fast 50 Program for Los Angeles, a ranking of the 50 fastest growing technology, media, telecommunications, and life sciences companies in the area by Deloitte & Touche USA LLP, one of the nation's leading professional services organizations. Rankings are based on the percentage revenue growth over five years from 2002-2006.
StemCyte's CEO Ken Giacin credits growing acceptance of umbilical cord blood stem cells for transplantation and StemCyte's outstanding record of favorable clinical outcomes for patients with leukemia and other blood diseases for the Company's excellent growth record.
Giacin said, "StemCyte has become one of the largest and most racially diverse cord blood banks in the world. This award represents the excellence of StemCyte's employees and the steadfast support of the transplant physician community."
StemCyte's increase in revenues of 1888% from 2002 to 2006 resulted in the company being the #1 fastest growing biotechnology company in the Technology Fast 50 for Los Angeles. "Deloitte's Los Angeles Technology Fast 50 companies have shown the strength, vision and tenacity to succeed in today's very competitive technology environment," said Tony Buzzelli, Vice Chairman and Regional Managing Partner, Pacific Southwest Region, Deloitte & Touche LLP. "We applaud the successes of StemCyte and acknowledge it as one of the very few to accomplish such a fast growth rate over the past five years."
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2002 and $5,000,000 in 2006, be headquartered in North America, and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology.
StemCyte, Inc. operates as both an international umbilical stem cell storage bank and a therapeutics company. Stem cells are used to replace or initiate the production of other cells that are damaged or missing due to disease. StemCyte collects, processes and banks umbilical cord blood ("UCB") stem cells to be used as therapeutic treatments. The Company currently operates UCB storage banks in California and Taiwan and is expanding its locations into other regions around the globe. In addition, the Company is pursuing collaborations with a number of leading stem cell researchers to improve and expand the treatment opportunities using stem cells.
UCB stem cells are a non-controversial and readily available source of stem cells, harvested from umbilical cords that would otherwise be discarded. To date, UCB stem cells have been used in approximately 8,000 transplants worldwide and have successfully treated certain cancers (e.g., leukemia, lymphoma and myeloma), blood disorders (e.g., thalassemia, sickle cell anemia and Fanconi anemia) and immune deficiency diseases. StemCyte and its scientific founder have developed proprietary processes to ensure that the least number of stem cells are lost post-collection and post-thaw. Studies have shown that successful patient engraftment and survival outcome are directly correlated to the number of stem cells provided. StemCyte's stem cells are currently being used to treat three to four patients per week and the Company recently released its 600th cord blood stem cell shipment for transplant. With an inventory of over 25,000 units, the Company's stem cell banks represent one of the largest and most ethnically diverse sources of unrelated (allogeneic) UCB stem cells.
StemCyte's therapeutic activities involve expanding the use of UCB stem cells in indications where stem cells are already an FDA-approved therapy, validating the engraftment and survival benefits of its proprietary stem cell processing technology and participating in clinical trials for new transplant indications. New indications include thalassemia, a devastating red blood cell deficiency diagnosed in over 150,000 babies each year with severe forms of the disease, and non-blood-based disorders, including neurodegenerative diseases.
StemCyte has received accreditation from the American Association of Blood Banks (AABB), the National Marrow Donor Program (NMDP), the College of American Pathologists (CAP), and Foundation for the Accreditation of Cellular Therapy (FACT) for allogeneic donations and has the only cord blood bank in the world accredited by FACT for autologous donations. StemCyte is one of only six banks to have been selected to participate in the C.W. Bill Young Cell Transplantation Program under the initial $79 million authorized by Congress in the Stem Cell Therapeutic and Research Act of 2005.
StemCyte is privately-held. Visit http://www.stemcyte.com for more information.
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte", "Deloitte & Touche", "Deloitte Touche Tohmatsu" or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.
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|SOURCE StemCyte, Inc.|
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