StemCyte Takes Steps to Seize Growth in Target Markets Consolidated Leadership Over U.S. Business & Joint Venture in India Signal Growth in Public & Private Cord Blood Based Product Sales
COVINA, Calif., April 8 /PRNewswire/ -- StemCyte, Inc. announces two recent events designed to position it for dynamic growth in its core business markets globally. First, StemCyte has promoted Calvin Cole to the newly formed position of President, StemCyte, North America. In this capacity, he will be responsible for operations and growth of the Company's North American businesses across its targeted markets.
"This key leadership role is part of our strategic reorganization to capitalize on the market opportunities we have targeted across our global Company. With our markets clearly defined, our focus is on commercializing these opportunities," said Ken Giacin, StemCyte's Chairman & CEO. "Calvin consistently demonstrates his ability to work with and respect all disciplines within the Company. He is a strategic leader in the development of our unique hybrid public and private banking model. Calvin developed and implemented thoughtful, go-to-market strategies to exploit our market advantages in both public and private banking and has led in attracting talent in key business functions needed to seize our growth potential."
"By consolidating management across StemCyte's core businesses, we are poised to grow in our defined markets in the United States and to leverage our global breadth of talent and capabilities," said Calvin Cole, President, StemCyte, North America.
Along with the new management structure for StemCyte North America, StemCyte expanded its global reach with the dedication and opening of StemCyte India Therapeutics Limited. The opening of the first public and private cord blood bank in India marks another milestone in StemCyte's global efforts. The new Company and facility, resulting from a joint venture between StemCyte, Inc, the Apollo Hospital Group and Cadilla Pharmaceutical, plans to build a 25,000 unit diverse public cord blood inventory to treat patients worldwide and facilitate transplantation therapies throughout India. The India initiative follows in the footsteps of the Company's long and successful public and private cord blood banking operations and advanced therapeutic efforts underway in the U.S. and Taiwan.
About StemCyte, Inc.: Located in the U.S., India and Taiwan, StemCyte has established one of the largest, most racially diverse, and highest quality cord blood stem cell banks in the world. StemCyte has supplied over 1,200 cord blood products for over 40 life-threatening diseases to over 200 leading transplant centers worldwide. StemCyte is actively involved in the development of new umbilical cord blood-based cell therapies. The Company is supporting the largest clinical study using unrelated cord blood transplantation for thalassemia, one of the most common genetic diseases in the world, and trials investigating regenerative spinal cord therapies. They are the only for-profit company contracted by the U.S. Department of HHS to establish a public National Cord Blood Inventory for unrelated transplant units. Its headquarters are located in Covina, Ca. and Ewing, NJ. To learn more visit www.StemCyte.com.
SOURCE StemCyte, Inc.