PHOENIX, Feb. 20, 2018 /PRNewswire/ -- Creative Medical Technology Holdings (OTCQB:CELZ) announced today the formation
"The AmnioStem™ amniotic stem cell product offers a potent platform for developing second generation stem cell therapies useful for neurodegenerative and other neurological diseases," said Santosh Kesari, MD, Ph.D, FANA, FAAN, Chair and Professor, Department of Translational Neurosciences and Neurotherapeutics, John Wayne Cancer Institute, as well as Director of Neuro-Oncology, Providence Saint John's Health Center, who leads the Pacific Neuroscience Research Center at Pacific Neuroscience Institute. "I am enthusiastic to combine new treatments and procedures developed by AmnioStem™ universal donor cell therapy, which I believe will allow for rapid clinical entry."
Dr. Kesari will serve as the Chief Medical Advisor for CerebroStem LLC. In addition to treating radiation induced brain damage, CerebroStem LLC plans to pursue other areas of brain degeneration including stroke, multiple sclerosis, and Parkinson's Disease.
"The desire of Dr. Kesari to combine his strengths with ours in the area of neurology is a major validation of the potential of the AmnioStem™ stem cell," said Timothy Warbington, President and CEO of Creative Medical Technology Holdings. "For the past 3 years we have been developing amniotic stem cells as a therapeutic product based on their potent regenerative activities, while possessing ability to be used without the need for patient matching. We believe that under Dr. Kesari's guidance, these cells will be capable of addressing numerous unmet medical needs in the area of neurology."
CerebroStem LLC will be led by Dr. Thomas Ichim, currently the Chief Scientific Officer of Creative Medical Technology Holdings Inc, who will serve as President and Chief Scientific Officer. Dr. Ichim has been responsible for 3 FDA cleared Investigational New Drug (IND) Applications in the area of cellular therapy and is inventor of over 100 patents and patent applications.
"It is my honor to implement the vision of Dr. Kesari in bringing hope to patients with neurological conditions for which currently there is little or no hope," said Dr. Ichim. "Having previously taken cellular products through the FDA process, and to acquisition, I am exciting to be working at translating these new ideas into patient treatments."
About Creative Medical Technology Holdings
Creative Medical Technology Holdings, Inc. is a commercial stage biotechnology company currently trading on the OTCQB under the ticker symbol CELZ. For further information about the company go to www.creativemedicaltechnology.com.
OTC Markets has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming clinical trials and laboratory results, marketing efforts, funding, etc. Forward-looking statements address future events and conditions and, therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. See the periodic and other reports filed by Creative Medical Technology Holdings, Inc. with the Securities and Exchange Commission and available on the Commission's website at www.sec.gov.
View original content:http://www.prnewswire.com/news-releases/creative-medical-technology-holdings-licenses-intellectual-property-from-internationally-renowned-neurologist-and-creates-neurology-focused-stem-cell-subsidiary-300600987.html
SOURCE Creative Medical Technology Holdings, Inc.
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