Temporary Suspension

RNS Number : 8410I

Stem Cell Sciences plc

25 November 2008

 



Stem Cell Sciences plc

suspension of trading

("Stem Cell Sciences", "SCS", "the Company")

25th November 2008

Stem Cell Sciences plc (AIM:STEM, ASX:STC) announces that trading in its ordinary shares on AIM and the ASX markets will be temporarily suspended with effect from the commencement of trading on 25th November 2008.

The temporary suspension from trading has been made at the request of the Board while the Directors undertake a review of the Company's financial position and strategic options.  

The Board is currently in discussions with a number of third parties about various options, including possible refinancing, divestiture of certain operations and/or merger opportunities of the Company.

The Board intends to update shareholders as soon as it is appropriate to do so.

ENDS

For further information, please contact:

Stem Cell Sciences plc (United Kingdom)

Alastair Riddell, CEO

Giorgio Reggiani, Chief Financial Officer

[phone]

Stem Cell Sciences pty ltd (Australia)

Paul Bello, Operations Manager

[phone]

Citigate Dewe Rogerson (UK)

Mark Swallow / Emma Palmer Foster / Amber Bielecka

[phone]

Talk Biotech (Australia)

Fay Weston, Director

[phone]

Daniel Stewart & Company (NOMAD to SCS, UK)

Simon Leathers / Simon Starr

[phone]

About Stem Cell Sciences plc

Stem Cell Sciences (SCS) is an international research and development company focusing on the commercial application of stem cell biology technologies for drug discovery and regenerative medicine research. Stem Cell Sciences is now focussing on building revenues through the sale of products, collaborative research and licensing deals with international biotechnology and pharmaceutical companies.

Stem Cell Sciences has a substantial portfolio of patents and patent applications in both adult and embryonic stem cell fields. The Company has been active in the stem cell research field since 1994, principally focused on technologies to grow, differentiate, and purify adult and embryonic stem cells. These include technologies to permit the generation of highly purified stem cells and their differentiated progeny (specialised tissue cell types) for use in genetic, pharmacological and toxicological screens. Moreover, these technologies may be able to provide pure populations of appropriate cell types for transplantation therapies in the future.

The Company has its main research base and headquarters in Cambridge, UK with a second research base in Monash near Melbourne, Australia and a business development office in San Francisco, USA.

For further information on the company please visit:  www.stemcellsciences.com.

 

END

 

 

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