The Jordanian Stem Cell Company signs purchase agreement with Stemedica International

Sep 7 2009

Stemedica Cell Technologies, Inc., ("Stemedica"), a world leader in stem cell research and manufacturing, announced the signing of an agreement today for its breakthrough stem cell and related technology. The Jordanian Stem Cell Company has signed a five year multi-million dollar agreement to purchase the technology from Stemedica's wholly-owned subsidiary, Stemedica International, S.A. The signing ceremony took place at the European Burns Association Congress in Lausanne, Switzerland.

"This is an important day for Stemedica International," said Frank Schuller, PhD, Stemedica International's Chairman. "This is a real testament to the quality and integrity of our products and the experience, dedication and professionalism of our team." The signing ceremony was attended by Mr. Sam Alkhass, Chief Executive Officer of the Jordanian Stem Cell Company as well as several representatives from Stemedica, including Dr. Schuller; Mark Tager, MD, Executive for Stemedica's Dermatological Operations; Alex Kharazi, MD, PhD, Stemedica's Vice President for Research and Manufacturing; and, Riccardo Nisato, MBA, PhD, Director of Manufacturing and Business Development, Stemedica International S.A.

"We are delighted to be working with Stemedica International," said Sam Alkhass. "Jordan has an excellent reputation as a provider of innovative and quality-driven medical treatment. It was fundamental to our company's future, and Jordan's reputation, that we find the best possible partner within the stem cell industry. We believe we have accomplished this objective by securing a long-term exclusive relationship with Stemedica International." Headquartered in Amman, The Jordanian Stem Cell Company is Chaired by His Royal Highness, Prince Asem Bin Nayef.

"We would like to thank the Jordanian Stem Cell Company and its Chairman, His Royal Highness, Prince Asem Bin Nayef for their vision and long-term commitment in bringing adult stem technology to Jordan," said Roger J. Howe, PhD, Chief Executive Officer for Stemedica International and Executive Chairman for Stemedica. "Our working relationship will not only provide significant medical advancements in treating the Citizens of Jordan, but will allow the country to continue to build on its growing reputation as a, 'Center of Medical Excellence' for the entire region. We have a quality partner in The Jordanian Stem Cell Company and in the Country of Jordan and we look forward to growing these relationships."

"Stemedica International will be providing our state-of-the-art stem cell technology to the Jordanian Stem Cell Company and will actively support their development and implementation of a Clinical Trial for burns," said Nikolai Tankovich, MD, PhD, Stemedica's President and Chief Medical Officer and Vice Chairman of Stemedica International. "We will work closely with the leadership of the Jordanian Stem Cell Company to secure all necessary governmental approvals for the Clinical Trial. The Trial is anticipated to begin sometime in the first quarter of 2010."