Stem Cell Therapy International Corp. is Acquired by Altadyne

Related News: Stem Cell Companies

Stem Cell Therapy International Corp., (OTC: ATYD.PK), a company devoted to the sale and distribution of biological solutions containing stem cell products, today announced it has been acquired by Altadyne, Inc., a Nevada corporation.

Stem Cell Therapy International Corp. CEO and President Calvin Cao and Chief Financial Officer Daniel Sullivan have assumed the same titles in the newly merged company and both were appointed to its Board of Directors.

CEO Calvin Cao said, "Our new board of directors plans to change the corporate name of the merged company to Stem Cell Therapy International, Inc. and to seek a new symbol from the NASD."

Pending such change, Stem Cell Therapy International Corp. will trade under the symbol "ATYD.PK."

About Stem Cell Therapy International Corp.

Stem Cell Therapy International Corp. (SCTI) is in the field of regenerative medicine. SCTI provides new stem cell solutions, which are being used in the treatment of patients suffering from degenerative disorders of the human body. SCTI operates in conjunction with advanced medical facilities devoted to the treatment of human physical disorders with stem cell transplantation therapy. The company intends to continue to establish relationships with highly specialized, professional medical treatment centers outside of the United States that will treat patients with stem cell transplantation therapy. In addition, SCTI intends to provide biological solutions containing new stem cell products in the United States to universities, institutes and privately funded laboratory facilities for research purposes and clinical trials.

Stem cell transplantation therapy is a field of medicine, which uses techniques and technologies that rely on replacing diseased, damaged or dysfunctional cells with healthy, functioning ones. This therapy is similar to the process of organ transplantation, only the treatment consists of the transplantation of stem cells into the body rather than entire organs, thus eliminating any chance of rejection or the need for immunosuppression drugs. These new techniques are being applied to finding a cure for a wide range of human disorders, including neurological diseases such as Alzheimer's, Parkinson's Disease, ALS (Lou Gehrig's disease), leukemia, muscular dystrophy, multiple sclerosis, arthritis, spinal cord injuries, brain injury, stroke, heart disease, liver and retinal disease, diabetes as well as certain types of cancer and the side effects of chemotherapy.

With the enactment of Proposition 71 in California in November 2004, a fund of $3 billion was created to fund stem cell research. Since then three other states New Jersey, Connecticut and Illinois have allocated funds for stem cell research. Among the leading public companies in the U.S. in the field of stem cell technology are A.C.T. Holdings, Inc.; ViaCell; Geron; StemCells, Inc., and Aastrom Biosciences Inc. For additional information, please visit our website @ www.scticorp.com.

Safe Harbor Statement

Forward-looking statements in this release with respect to Altadyne, Inc. and Stem Cell Therapy International, Corp's business, financial condition and results of operations, as well as matters of timing and the prospective terms of the transaction described are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward- looking statements, including, but not limited to, certain delays beyond Altadyne's or Stem Cell Therapy International, Corp. control with respect to market acceptance of their technology and/or products, whether financing will be available, the effect of the application of acquisition accounting policies as well as certain other risk factors which are and may be detailed from time to time in Altadyne's filings with the Securities and Exchange Commission.


Source Stem Cell Therapy International Corp.



Posted on September 23, 2005 12:23 PM

 
Stem Cell Research Site Map