Stem Cell Therapy International completes merger with Histostem of South Korea

Feb 2 2010

Stem Cell Therapy International, Inc. (OTCBB: SCII) announced that it has completed its merger with Histostem Ltd. of South Korea ("Histostem"), forming one of the first fully merged Pacific Rim stem cell companies and cord blood repositories with a U.S. entity.

David Stark, President and CEO of SCII, commented, "This merger brings together two well respected stem cell companies with complementary areas of expertise and we are very pleased to partner with Dr. Hoon Han, a preeminent scientist in the field of stem cell research and regenerative medicine. Histostem, which will operate as a wholly owned subsidiary, brings one of the world's largest, fully accredited cord blood banks, with more than 80,000 cord blood units for use in research and treatments. Additionally, Histostem has market ready products such as the stem cell based facial cream, SteMixx, which has received full Korean FDA approval as an effective treatment to combat the effects of aging skin, which is in the beginning stages of our marketing plan."

With the close of the merger, SCII will have approximately 176 million common shares outstanding, which includes the approximately 13 million shares that will be issued five days after the announcement of this merger.

Andrew J. Norstrud, Chief Financial Officer, commented, "With the merger completed and our initial financing mechanism in place, management is excited about accelerating our strategic plan, which includes, but is not limited to, product sales, medical treatments, additional acquisitions, partnership opportunities and medical research."