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News Article | March 2, 2017
Site: www.prweb.com

A new study published this month in STEM CELLS Translational Medicine indicates that treating heart patients with mesenchymal stem cells (MSCs) does not increase their risk of irregular heart beat (arrhythmia). In fact, the MSCs had the opposite effect and showed promise of improving the condition. “This could be an important breakthrough for many heart patients, as proarrhythmia – which is a new or more frequent occurrence of pre-existing arrhythmia – unfortunately can be a side effect of some of the drugs we’re using to treat these patients,” said the study’s lead author, Raul Mitrani, M.D., of the University of Miami School of Medicine’s Division of Cardiology (Miami, Florida). Arrhythmia is a common condition resulting when electrical impulses in the heart do not work properly, causing the heart to beat either too fast, too slow or erratically. This in turn interferes with blood flow throughout the body and can potentially damage or shut down organs. While some experience no symptoms and their arrhythmia is harmless, in others it can be life threatening. Treatments include anti-arrhythmic drugs; implantable devices such as a pacemaker; surgery; or catheter ablation (a procedure that uses radiofrequency energy to destroy a small area of heart tissue that is causing the off-kilter beats). As more studies are showing the potential of stem cells to repair damage caused by heart disease, Dr. Mitrani and his colleagues at UM wondered whether the stem cells – specifically MSCs, which are 'adult' stem cells that can produce more than one type of specialized cell of the body – would follow the path of some of the anti-arrhythmia drugs and worsen the condition. Previous studies had indicated that perhaps was the case with certain other types of stem cells, but no studies had focused on MSCs. To find the answer, they analyzed the results of 88 patients enrolled in two clinical trials testing the potential of MSCs in treating ischemic cardiomyopathy. This is a common condition in which the heart's ability to pump blood is decreased because its main pumping chamber, the left ventricle, is enlarged, dilated and weak. The patients had an average age of 61 years and were divided into groups treated with either MSCs, bone marrow stem cells (BMCs) or placebo. A year after their treatments, those who received MSCs all showed no signs of arrhythmia. “We were encouraged by what we saw,” Dr. Mitrani said. “Even better, in a group of patients with low ventricular ectopy burden – what some call ‘heart hiccups’ or ‘skipped beats’ – there were definite signs of improvement while in the BMC and placebo groups, no similar signal for improvement was noted. “This leads us to believe that prospective studies might clarify the role of MSCs to reduce ventricular arrhythmias.” “By combining data from two studies, the authors were able to study this question in one of the largest groups of patients to date,” said Anthony Atala, Editor-in-Chief of STEM CELLS Translational Medicine and director of the Wake Forest Institute for Regenerative Medicine. “These findings are important because they emphasize the need for further large prospective studies to evaluate the anti-arrhythmic potential of mesenchymal and other newer cell-based therapies.” The full article, “Effects of Transendocardial Stem Cell Injection on Ventricular Proarrhythmia in Patients with Ischemic Cardiomyopathy: Results from the POSEIDON and TAC-HFT Trials,” can be accessed at: http://onlinelibrary.wiley.com/doi/10.1002/sctm.16-0328/full. About STEM CELLS Translational Medicine: STEM CELLS Translational Medicine (SCTM), published by AlphaMed Press, is a monthly peer-reviewed publication dedicated to significantly advancing the clinical utilization of stem cell molecular and cellular biology. By bridging stem cell research and clinical trials, SCTM will help move applications of these critical investigations closer to accepted best practices. About AlphaMed Press: Established in 1983, AlphaMed Press with offices in Durham, NC, San Francisco, CA, and Belfast, Northern Ireland, publishes two other internationally renowned peer-reviewed journals: STEM CELLS® (http://www.StemCells.com), celebrating its 35th year, is the world's first journal devoted to this fast paced field of research. The Oncologist® (http://www.TheOncologist.com), also a monthly peer-reviewed publication, entering its 22nd year, is devoted to community and hospital-based oncologists and physicians entrusted with cancer patient care. All three journals are premier periodicals with globally recognized editorial boards dedicated to advancing knowledge and education in their focused disciplines.


News Article | November 28, 2016
Site: globenewswire.com

HINGHAM, Mass., Nov. 28, 2016 (GLOBE NEWSWIRE) -- Microbot Medical Ltd., a medical device company specializing in the research, design and development of transformational micro-robotic medical technologies, today announced that it has closed its merger transaction with StemCells, Inc. (Nasdaq:STEM), pursuant to which Microbot became a wholly-owned subsidiary of StemCells, Inc. StemCells will be renamed Microbot Medical Inc. and will begin trading on NASDAQ under the symbol ‘MBOT’ on November 29, 2016.   “Microbot Medical’s founding principle is to improve the quality of life of millions of patients globally by advancing micro-robotic technologies to perform surgical procedures within the human body, and offer physicians and their patients less invasive and more precise solutions.  Our vision, which helped guide the development of multiple products based on our unique ViRob and TipCAT micro-robotic technology platforms, is becoming a reality as our lead product candidates for Cerebrospinal Fluid (CSF) and Gastrointestinal (GI) Disorders continue to progress,” commented Harel Gadot, Chairman and Chief Executive Officer of Microbot Medical. “The completion of this merger is a significant milestone and enables us to capitalize on Microbot Medical’s unique core capabilities and fund our next generation of micro-robotic medical products.  We anticipate FDA submission for these products in the near future, and once commercialized, our robust pipeline is expected to deliver a succession of new product launches and applications driving our short, mid and long term revenue prospects,” concluded Mr. Gadot. Following the completion of the merger and one–for-nine reverse stock split, there are approximately 39 million shares of common stock outstanding.  Under the terms of the merger agreement with StemCells, the shareholders of Microbot Medical, and certain advisors and consultants with respect to the merger, received shares of StemCells common stock representing approximately 95% of the outstanding shares of StemCells calculated on a fully diluted basis.  Stockholders of StemCells prior to the merger have retained approximately 5% of the company. Microbot’s leadership includes Mr. Gadot, a co-founder who previously served as a Worldwide Group Marketing Director at Johnson & Johnson’s surgical device company Ethicon Inc. Additionally, Prof. Moshe Shoham, an inventor of Microbot’s technologies and a co-founder of the Company will remain on the Board of Directors and the company’s Scientific Advisory Board. Professor Shoham also founded Mazor Robotics Ltd. The current members of the Board of Directors of Microbot Medical will serve on the Board of Directors of the company, with the addition of Scott Burell, a seasoned public company executive who currently serves as Chief Financial Officer, Secretary and Treasurer of CombiMatrix Corporation.  The Company’s corporate headquarters will be located in Hingham, Massachusetts and Yokneam, Israel. Microbot Medical is a medical device company specializing in the design and development of transformational micro-robotic medical technologies.  The Company is primarily focused on leveraging its micro-robotic technologies with the goal of allowing more physicians to treat more patients while improving surgical outcomes for patients. The Company is currently developing its first two product candidates: the Self Cleaning Shunt, or SCS, for the treatment of hydrocephalus and Normal Pressure Hydrocephalus, or NPH; and TipCAT, a self-propelling, semi-disposable endoscope that is being developed initially for use in colonoscopy procedures. Further information about Microbot Medical is available at http://www.microbotmedical.com. Statements pertaining to future financial and/or operating results, future growth in research, technology, clinical development, and potential opportunities for Microbot Medical Inc. and its subsidiaries, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects” and “estimates”) should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, uncertainty in the results of clinical trials or regulatory approvals, need and ability to obtain future capital, and maintenance of intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties that affect the businesses of Microbot Medical Inc. particularly those mentioned in the cautionary statements found in Microbot Medical Inc.’s filings with the Securities and Exchange Commission. Microbot Medical Inc. disclaims any intent or obligation to update these forward-looking statements.


News Article | November 28, 2016
Site: globenewswire.com

HINGHAM, Mass., Nov. 28, 2016 (GLOBE NEWSWIRE) -- Microbot Medical Ltd., a medical device company specializing in the research, design and development of transformational micro-robotic medical technologies, today announced that it has closed its merger transaction with StemCells, Inc. (Nasdaq:STEM), pursuant to which Microbot became a wholly-owned subsidiary of StemCells, Inc. StemCells will be renamed Microbot Medical Inc. and will begin trading on NASDAQ under the symbol ‘MBOT’ on November 29, 2016.   “Microbot Medical’s founding principle is to improve the quality of life of millions of patients globally by advancing micro-robotic technologies to perform surgical procedures within the human body, and offer physicians and their patients less invasive and more precise solutions.  Our vision, which helped guide the development of multiple products based on our unique ViRob and TipCAT micro-robotic technology platforms, is becoming a reality as our lead product candidates for Cerebrospinal Fluid (CSF) and Gastrointestinal (GI) Disorders continue to progress,” commented Harel Gadot, Chairman and Chief Executive Officer of Microbot Medical. “The completion of this merger is a significant milestone and enables us to capitalize on Microbot Medical’s unique core capabilities and fund our next generation of micro-robotic medical products.  We anticipate FDA submission for these products in the near future, and once commercialized, our robust pipeline is expected to deliver a succession of new product launches and applications driving our short, mid and long term revenue prospects,” concluded Mr. Gadot. Following the completion of the merger and one–for-nine reverse stock split, there are approximately 39 million shares of common stock outstanding.  Under the terms of the merger agreement with StemCells, the shareholders of Microbot Medical, and certain advisors and consultants with respect to the merger, received shares of StemCells common stock representing approximately 95% of the outstanding shares of StemCells calculated on a fully diluted basis.  Stockholders of StemCells prior to the merger have retained approximately 5% of the company. Microbot’s leadership includes Mr. Gadot, a co-founder who previously served as a Worldwide Group Marketing Director at Johnson & Johnson’s surgical device company Ethicon Inc. Additionally, Prof. Moshe Shoham, an inventor of Microbot’s technologies and a co-founder of the Company will remain on the Board of Directors and the company’s Scientific Advisory Board. Professor Shoham also founded Mazor Robotics Ltd. The current members of the Board of Directors of Microbot Medical will serve on the Board of Directors of the company, with the addition of Scott Burell, a seasoned public company executive who currently serves as Chief Financial Officer, Secretary and Treasurer of CombiMatrix Corporation.  The Company’s corporate headquarters will be located in Hingham, Massachusetts and Yokneam, Israel. Microbot Medical is a medical device company specializing in the design and development of transformational micro-robotic medical technologies.  The Company is primarily focused on leveraging its micro-robotic technologies with the goal of allowing more physicians to treat more patients while improving surgical outcomes for patients. The Company is currently developing its first two product candidates: the Self Cleaning Shunt, or SCS, for the treatment of hydrocephalus and Normal Pressure Hydrocephalus, or NPH; and TipCAT, a self-propelling, semi-disposable endoscope that is being developed initially for use in colonoscopy procedures. Further information about Microbot Medical is available at http://www.microbotmedical.com. Statements pertaining to future financial and/or operating results, future growth in research, technology, clinical development, and potential opportunities for Microbot Medical Inc. and its subsidiaries, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects” and “estimates”) should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, uncertainty in the results of clinical trials or regulatory approvals, need and ability to obtain future capital, and maintenance of intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties that affect the businesses of Microbot Medical Inc. particularly those mentioned in the cautionary statements found in Microbot Medical Inc.’s filings with the Securities and Exchange Commission. Microbot Medical Inc. disclaims any intent or obligation to update these forward-looking statements.


News Article | November 28, 2016
Site: globenewswire.com

HINGHAM, Mass., Nov. 28, 2016 (GLOBE NEWSWIRE) -- Microbot Medical Ltd., a medical device company specializing in the research, design and development of transformational micro-robotic medical technologies, today announced that it has closed its merger transaction with StemCells, Inc. (Nasdaq:STEM), pursuant to which Microbot became a wholly-owned subsidiary of StemCells, Inc. StemCells will be renamed Microbot Medical Inc. and will begin trading on NASDAQ under the symbol ‘MBOT’ on November 29, 2016.   “Microbot Medical’s founding principle is to improve the quality of life of millions of patients globally by advancing micro-robotic technologies to perform surgical procedures within the human body, and offer physicians and their patients less invasive and more precise solutions.  Our vision, which helped guide the development of multiple products based on our unique ViRob and TipCAT micro-robotic technology platforms, is becoming a reality as our lead product candidates for Cerebrospinal Fluid (CSF) and Gastrointestinal (GI) Disorders continue to progress,” commented Harel Gadot, Chairman and Chief Executive Officer of Microbot Medical. “The completion of this merger is a significant milestone and enables us to capitalize on Microbot Medical’s unique core capabilities and fund our next generation of micro-robotic medical products.  We anticipate FDA submission for these products in the near future, and once commercialized, our robust pipeline is expected to deliver a succession of new product launches and applications driving our short, mid and long term revenue prospects,” concluded Mr. Gadot. Following the completion of the merger and one–for-nine reverse stock split, there are approximately 39 million shares of common stock outstanding.  Under the terms of the merger agreement with StemCells, the shareholders of Microbot Medical, and certain advisors and consultants with respect to the merger, received shares of StemCells common stock representing approximately 95% of the outstanding shares of StemCells calculated on a fully diluted basis.  Stockholders of StemCells prior to the merger have retained approximately 5% of the company. Microbot’s leadership includes Mr. Gadot, a co-founder who previously served as a Worldwide Group Marketing Director at Johnson & Johnson’s surgical device company Ethicon Inc. Additionally, Prof. Moshe Shoham, an inventor of Microbot’s technologies and a co-founder of the Company will remain on the Board of Directors and the company’s Scientific Advisory Board. Professor Shoham also founded Mazor Robotics Ltd. The current members of the Board of Directors of Microbot Medical will serve on the Board of Directors of the company, with the addition of Scott Burell, a seasoned public company executive who currently serves as Chief Financial Officer, Secretary and Treasurer of CombiMatrix Corporation.  The Company’s corporate headquarters will be located in Hingham, Massachusetts and Yokneam, Israel. Microbot Medical is a medical device company specializing in the design and development of transformational micro-robotic medical technologies.  The Company is primarily focused on leveraging its micro-robotic technologies with the goal of allowing more physicians to treat more patients while improving surgical outcomes for patients. The Company is currently developing its first two product candidates: the Self Cleaning Shunt, or SCS, for the treatment of hydrocephalus and Normal Pressure Hydrocephalus, or NPH; and TipCAT, a self-propelling, semi-disposable endoscope that is being developed initially for use in colonoscopy procedures. Further information about Microbot Medical is available at http://www.microbotmedical.com. Statements pertaining to future financial and/or operating results, future growth in research, technology, clinical development, and potential opportunities for Microbot Medical Inc. and its subsidiaries, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects” and “estimates”) should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, uncertainty in the results of clinical trials or regulatory approvals, need and ability to obtain future capital, and maintenance of intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties that affect the businesses of Microbot Medical Inc. particularly those mentioned in the cautionary statements found in Microbot Medical Inc.’s filings with the Securities and Exchange Commission. Microbot Medical Inc. disclaims any intent or obligation to update these forward-looking statements.


NEWARK, Calif., Oct. 27, 2016 (GLOBE NEWSWIRE) -- StemCells, Inc. (NASDAQ:STEM) reported today that four of the five proposals presented at the stockholder meeting in connection with the Company’s planned merger transaction with Microbot Medical Ltd. (Microbot) were approved yesterday.  The first proposal – to approve and adopt the Agreement and Plan of Merger and Reorganization with Microbot – was not taken up for vote at the meeting because an insufficient number of shares had so far been voted on the proposal.   It is highly important for ALL Company stockholders to exercise a vote on Proposal #1 to approve the Microbot merger agreement.  Company stockholders of record as of September 20, 2016 are encouraged to return proxies as soon as possible by mail, or vote online, as instructed in the proxy mailings delivered on or around October 3, 2016.  If you did not receive proxy materials, please contact the Company’s proxy solicitor, Okapi Partners, at 877-259-6290. As of yesterday’s meeting date, approximately 3.8 million shares had been voted on Proposal #1 to approve the Microbot merger agreement, or approximately 24% of the Company’s shares eligible to vote, with 95.97% of these shares voting in favor of the proposal, 2.10% voting against, and 1.91% abstaining. The Company’s stockholders approved proposal #2 (to approve the issuance of shares to Microbot’s shareholders and advisors in accordance with the merger agreement), proposal #3 (to amend the Company’s charter to effect a reverse stock split), proposal #4 (to amend the Company’s charter to increase its authorized capital), and proposal #5 (to change the Company’s corporate name in connection with the proposed merger to Microbot Medical Inc.).  Each of these four stockholder proposals passed with an approval of approximately 85% of the votes cast or higher. The special stockholder meeting has been adjourned in order to collect additional votes on Proposal #1.  The Company’s special stockholder meeting will resume on November 14, 2016, at 10:00am, Pacific Time, at 650 California Ave, Suite 1900, San Francisco, CA. Between now and the November 14, 2016 adjournment date, the Company will intensify its outreach to existing stockholders to encourage their participation in the vote being taken. “We are certainly pleased to see considerable progress towards completing all of the preclosing conditions for the Microbot deal, including yesterday’s stockholder vote, and to receive such broad support from our existing stockholders,” commented Mr. Ken Stratton, President and General Counsel of StemCells, Inc.  “Our Board has unanimously approved and recommended the Microbot deal as being in the best interests of our stakeholders.  We will take all reasonable steps to ensure sufficient votes are cast by November 14 to be in a position to successfully close the merger soon thereafter.” Further information about StemCells, Inc. is available at http://www.stemcellsinc.com. Ropes & Gray LLP acted as legal advisor to StemCells and Ruskin Moscou Faltischek, P.C. and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. acted as legal advisor to Microbot.  Additional information about the proposed transaction can be found in the Form 8‑K filed by StemCells on August 15, 2016. Apart from statements of historical fact, the text of this press release constitutes forward-looking statements within the meaning of the U.S. securities laws, and is subject to the safe harbors created therein. These statements include, but are not limited to, statements regarding the future business operations of StemCells, Inc. (the "Company"), the possibility of a merger transaction between the companies, the possibility of obtaining the vote required from the Company’s stockholders to complete the merger with Microbot, and possible benefits from such a merger for the companies and their respective stakeholders. These forward-looking statements speak only as of the date of this news release. The Company does not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. Such statements reflect management's current views and are based on certain assumptions that may or may not ultimately prove valid. The Company's actual results may vary materially from those contemplated in such forward-looking statements due to risks and uncertainties to which the Company is subject, including uncertainties about the parties’ ability to complete the merger; uncertainties concerning the sufficiency of the Company’s remaining funds to continue operations; uncertainties regarding the Company’s plans to increase its authorized share capital; uncertainties regarding the validity and enforceability of the Company's patents and Microbot’s patents; uncertainties as to whether either company will become profitable; and other factors that are described under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2015 and the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2016. A definitive proxy statement and a proxy card have been filed with the SEC and have been mailed to the Company’s stockholders seeking any required stockholder approvals in connection with the proposed transactions. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT THE COMPANY MAY FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTIONS. Stockholders may obtain, free of charge, copies of the definitive proxy statement and any other documents filed by StemCells with the SEC in connection with the proposed transactions at the SEC’s website (http://www.sec.gov), at StemCells’ website, or by directing written request to: StemCells, Inc. 39899 Balentine Drive, Suite 200, Newark, CA 94560, Attention: Kenneth Stratton, Esq. The Company and its directors and executive officers and Microbot and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of the Company in connection with the proposed transaction. Information regarding the special interests of these directors and executive officers in the merger will be included in the proxy statement referred to above. Additional information regarding the directors and executive officers of the Company is also included in the Company’s Definitive Proxy Statement on Schedule 14A relating to the 2016 Annual Meeting of Stockholders, which was filed with the SEC on April 8, 2016. This document is available free of charge at the SEC web site (www.sec.gov), at the Company’s website, or by directing a written request to the Company as described above.


NEWARK, Calif., Oct. 27, 2016 (GLOBE NEWSWIRE) -- StemCells, Inc. (NASDAQ:STEM) reported today that four of the five proposals presented at the stockholder meeting in connection with the Company’s planned merger transaction with Microbot Medical Ltd. (Microbot) were approved yesterday.  The first proposal – to approve and adopt the Agreement and Plan of Merger and Reorganization with Microbot – was not taken up for vote at the meeting because an insufficient number of shares had so far been voted on the proposal.   It is highly important for ALL Company stockholders to exercise a vote on Proposal #1 to approve the Microbot merger agreement.  Company stockholders of record as of September 20, 2016 are encouraged to return proxies as soon as possible by mail, or vote online, as instructed in the proxy mailings delivered on or around October 3, 2016.  If you did not receive proxy materials, please contact the Company’s proxy solicitor, Okapi Partners, at 877-259-6290. As of yesterday’s meeting date, approximately 3.8 million shares had been voted on Proposal #1 to approve the Microbot merger agreement, or approximately 24% of the Company’s shares eligible to vote, with 95.97% of these shares voting in favor of the proposal, 2.10% voting against, and 1.91% abstaining. The Company’s stockholders approved proposal #2 (to approve the issuance of shares to Microbot’s shareholders and advisors in accordance with the merger agreement), proposal #3 (to amend the Company’s charter to effect a reverse stock split), proposal #4 (to amend the Company’s charter to increase its authorized capital), and proposal #5 (to change the Company’s corporate name in connection with the proposed merger to Microbot Medical Inc.).  Each of these four stockholder proposals passed with an approval of approximately 85% of the votes cast or higher. The special stockholder meeting has been adjourned in order to collect additional votes on Proposal #1.  The Company’s special stockholder meeting will resume on November 14, 2016, at 10:00am, Pacific Time, at 650 California Ave, Suite 1900, San Francisco, CA. Between now and the November 14, 2016 adjournment date, the Company will intensify its outreach to existing stockholders to encourage their participation in the vote being taken. “We are certainly pleased to see considerable progress towards completing all of the preclosing conditions for the Microbot deal, including yesterday’s stockholder vote, and to receive such broad support from our existing stockholders,” commented Mr. Ken Stratton, President and General Counsel of StemCells, Inc.  “Our Board has unanimously approved and recommended the Microbot deal as being in the best interests of our stakeholders.  We will take all reasonable steps to ensure sufficient votes are cast by November 14 to be in a position to successfully close the merger soon thereafter.” Further information about StemCells, Inc. is available at http://www.stemcellsinc.com. Ropes & Gray LLP acted as legal advisor to StemCells and Ruskin Moscou Faltischek, P.C. and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. acted as legal advisor to Microbot.  Additional information about the proposed transaction can be found in the Form 8‑K filed by StemCells on August 15, 2016. Apart from statements of historical fact, the text of this press release constitutes forward-looking statements within the meaning of the U.S. securities laws, and is subject to the safe harbors created therein. These statements include, but are not limited to, statements regarding the future business operations of StemCells, Inc. (the "Company"), the possibility of a merger transaction between the companies, the possibility of obtaining the vote required from the Company’s stockholders to complete the merger with Microbot, and possible benefits from such a merger for the companies and their respective stakeholders. These forward-looking statements speak only as of the date of this news release. The Company does not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. Such statements reflect management's current views and are based on certain assumptions that may or may not ultimately prove valid. The Company's actual results may vary materially from those contemplated in such forward-looking statements due to risks and uncertainties to which the Company is subject, including uncertainties about the parties’ ability to complete the merger; uncertainties concerning the sufficiency of the Company’s remaining funds to continue operations; uncertainties regarding the Company’s plans to increase its authorized share capital; uncertainties regarding the validity and enforceability of the Company's patents and Microbot’s patents; uncertainties as to whether either company will become profitable; and other factors that are described under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2015 and the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2016. A definitive proxy statement and a proxy card have been filed with the SEC and have been mailed to the Company’s stockholders seeking any required stockholder approvals in connection with the proposed transactions. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT THE COMPANY MAY FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTIONS. Stockholders may obtain, free of charge, copies of the definitive proxy statement and any other documents filed by StemCells with the SEC in connection with the proposed transactions at the SEC’s website (http://www.sec.gov), at StemCells’ website, or by directing written request to: StemCells, Inc. 39899 Balentine Drive, Suite 200, Newark, CA 94560, Attention: Kenneth Stratton, Esq. The Company and its directors and executive officers and Microbot and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of the Company in connection with the proposed transaction. Information regarding the special interests of these directors and executive officers in the merger will be included in the proxy statement referred to above. Additional information regarding the directors and executive officers of the Company is also included in the Company’s Definitive Proxy Statement on Schedule 14A relating to the 2016 Annual Meeting of Stockholders, which was filed with the SEC on April 8, 2016. This document is available free of charge at the SEC web site (www.sec.gov), at the Company’s website, or by directing a written request to the Company as described above.


HINGHAM, Mass., Dec. 01, 2016 (GLOBE NEWSWIRE) -- Microbot Medical Inc. (Nasdaq:MBOT), a medical device company specializing in the design and development of transformational micro-robotic medical technologies, closed the previously disclosed asset purchase agreement with BOCO Silicon Valley, Inc., a wholly-owned subsidiary of Bright Oceans Corporation, for proceeds to the Company of $3,460,000. These proceeds include $255,000 which was previously paid to the Company’s predecessor, StemCells Inc., and $400,000 which will be held in escrow for 12 months to assure performance of contractual representations and warranties, but exclude consulting fees paid directly from escrow at closing to former StemCells employees involved in the asset transfer. The transferred assets included stem and progenitor cell lines that belonged to the predecessor company, StemCells, which completed a merger with the Company on November 28, 2016.  The resources from the asset sale will be used to further develop the Company’s transformational micro-robotic technologies that are designed to treat and diagnose various medical conditions.  The Company’s initial products are expected to address the unmet medical needs for Cerebrospinal Fluid (CSF) and Gastrointestinal (GI), and are expected to be submitted the FDA in the near future. “The proceeds enhance our balance sheet in a non-dilutive manner and allow us to add key management hires as well as continue focusing on the development of our innovative micro-robotic technologies,” commented Harel Gadot, Chairman and Chief Executive Officer.  “The products borne from these technologies will allow us to enhance the quality of life and address unmet medical needs impacting millions of patients globally.” Microbot Medical Inc. is a medical device company specializing in the design and development of transformational micro-robotic medical technologies.  The Company is primarily focused on leveraging its micro-robotic technologies with the goal of allowing more physicians to treat more patients while improving surgical outcomes for the patients. The Company is currently developing its first two product candidates: the Self Cleaning Shunt, or SCS, for the treatment of hydrocephalus and Normal Pressure Hydrocephalus, or NPH; and TipCAT, a self-propelling, semi-disposable endoscope that is being developed initially for use in colonoscopy procedures. Statements pertaining to future financial and/or operating results, future growth in research, technology, clinical development, and potential opportunities for Microbot Medical Inc. and its subsidiaries, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects” and “estimates”) should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, uncertainty in the results of clinical trials or regulatory approvals, need and ability to obtain future capital, and maintenance of intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties that affect the businesses of Microbot Medical Inc. particularly those mentioned in the cautionary statements found in Microbot Medical Inc.’s filings with the Securities and Exchange Commission. Microbot Medical disclaims any intent or obligation to update these forward-looking statements.


HINGHAM, Mass., Dec. 01, 2016 (GLOBE NEWSWIRE) -- Microbot Medical Inc. (Nasdaq:MBOT), a medical device company specializing in the design and development of transformational micro-robotic medical technologies, closed the previously disclosed asset purchase agreement with BOCO Silicon Valley, Inc., a wholly-owned subsidiary of Bright Oceans Corporation, for proceeds to the Company of $3,460,000. These proceeds include $255,000 which was previously paid to the Company’s predecessor, StemCells Inc., and $400,000 which will be held in escrow for 12 months to assure performance of contractual representations and warranties, but exclude consulting fees paid directly from escrow at closing to former StemCells employees involved in the asset transfer. The transferred assets included stem and progenitor cell lines that belonged to the predecessor company, StemCells, which completed a merger with the Company on November 28, 2016.  The resources from the asset sale will be used to further develop the Company’s transformational micro-robotic technologies that are designed to treat and diagnose various medical conditions.  The Company’s initial products are expected to address the unmet medical needs for Cerebrospinal Fluid (CSF) and Gastrointestinal (GI), and are expected to be submitted the FDA in the near future. “The proceeds enhance our balance sheet in a non-dilutive manner and allow us to add key management hires as well as continue focusing on the development of our innovative micro-robotic technologies,” commented Harel Gadot, Chairman and Chief Executive Officer.  “The products borne from these technologies will allow us to enhance the quality of life and address unmet medical needs impacting millions of patients globally.” Microbot Medical Inc. is a medical device company specializing in the design and development of transformational micro-robotic medical technologies.  The Company is primarily focused on leveraging its micro-robotic technologies with the goal of allowing more physicians to treat more patients while improving surgical outcomes for the patients. The Company is currently developing its first two product candidates: the Self Cleaning Shunt, or SCS, for the treatment of hydrocephalus and Normal Pressure Hydrocephalus, or NPH; and TipCAT, a self-propelling, semi-disposable endoscope that is being developed initially for use in colonoscopy procedures. Statements pertaining to future financial and/or operating results, future growth in research, technology, clinical development, and potential opportunities for Microbot Medical Inc. and its subsidiaries, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects” and “estimates”) should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, uncertainty in the results of clinical trials or regulatory approvals, need and ability to obtain future capital, and maintenance of intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties that affect the businesses of Microbot Medical Inc. particularly those mentioned in the cautionary statements found in Microbot Medical Inc.’s filings with the Securities and Exchange Commission. Microbot Medical disclaims any intent or obligation to update these forward-looking statements.


HINGHAM, Mass., Dec. 01, 2016 (GLOBE NEWSWIRE) -- Microbot Medical Inc. (Nasdaq:MBOT), a medical device company specializing in the design and development of transformational micro-robotic medical technologies, closed the previously disclosed asset purchase agreement with BOCO Silicon Valley, Inc., a wholly-owned subsidiary of Bright Oceans Corporation, for proceeds to the Company of $3,460,000. These proceeds include $255,000 which was previously paid to the Company’s predecessor, StemCells Inc., and $400,000 which will be held in escrow for 12 months to assure performance of contractual representations and warranties, but exclude consulting fees paid directly from escrow at closing to former StemCells employees involved in the asset transfer. The transferred assets included stem and progenitor cell lines that belonged to the predecessor company, StemCells, which completed a merger with the Company on November 28, 2016.  The resources from the asset sale will be used to further develop the Company’s transformational micro-robotic technologies that are designed to treat and diagnose various medical conditions.  The Company’s initial products are expected to address the unmet medical needs for Cerebrospinal Fluid (CSF) and Gastrointestinal (GI), and are expected to be submitted the FDA in the near future. “The proceeds enhance our balance sheet in a non-dilutive manner and allow us to add key management hires as well as continue focusing on the development of our innovative micro-robotic technologies,” commented Harel Gadot, Chairman and Chief Executive Officer.  “The products borne from these technologies will allow us to enhance the quality of life and address unmet medical needs impacting millions of patients globally.” Microbot Medical Inc. is a medical device company specializing in the design and development of transformational micro-robotic medical technologies.  The Company is primarily focused on leveraging its micro-robotic technologies with the goal of allowing more physicians to treat more patients while improving surgical outcomes for the patients. The Company is currently developing its first two product candidates: the Self Cleaning Shunt, or SCS, for the treatment of hydrocephalus and Normal Pressure Hydrocephalus, or NPH; and TipCAT, a self-propelling, semi-disposable endoscope that is being developed initially for use in colonoscopy procedures. Statements pertaining to future financial and/or operating results, future growth in research, technology, clinical development, and potential opportunities for Microbot Medical Inc. and its subsidiaries, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects” and “estimates”) should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, uncertainty in the results of clinical trials or regulatory approvals, need and ability to obtain future capital, and maintenance of intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties that affect the businesses of Microbot Medical Inc. particularly those mentioned in the cautionary statements found in Microbot Medical Inc.’s filings with the Securities and Exchange Commission. Microbot Medical disclaims any intent or obligation to update these forward-looking statements.


Patent
StemCells | Date: 2011-11-23

A substantially enriched mammalian hepatic liver engrafting cell population is provided. Methods are provided for the isolation and culture of this liver engrafting cell. The progenitor cells are obtained from a variety of sources, including fetal and adult tissues. The cells are useful in transplantation, for experimental evaluation, and as a source of lineage and cell specific products, including mRNA species useful in identifying genes specifically expressed in these cells, and as targets for the discovery of factors or molecules that can affect them.

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