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
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
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
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
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
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
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SOURCE StemCyte, Inc.