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Where are you seeing this? It's been steady at .31 23000 for me.
Anyone else watching this thing....the volume has been bouncing from 23,000 to 22,500 back to 23,000 for the last 45 mins. With price bouncing .3099 to .31. What is going on?! On a side note the bounce should be here quickly. Looking for a double.
Gm all, off bottom set up for bounce. Just get NITE off the ask grrr. Of course some sort of update from the company wouldn't hurt either. lol
Your right NITE was the axe today. Looked like flippers from yesterday exited at open and nite just pushed it down again. Don't know if I beleive the MM shorty theory but NITE is definately unloading, how many to go is the question.
Yea doesn't seem like something that justifies a drop from 7.00 to .30. lol.
The initial drop took it to 2 then slid on rising volume with the increased class action news.
It is amazing how many shares were traded in Frankfurt today: 8,699,870!!!
See http://finance.yahoo.com/q?s=lk6.f
IMHO, this stock has been shorted to death. CCYG is on the regular SHO list since Jan 30. Who is short? NITE and PERT IMHO. You could see NITE & PERT on the high bid yesterday all the day long while there strong buying. Today PERT was staying low at 0.280 most of day waiting for NITE to bring the price down for short covering. We will see what tomorrow brings.
GLTA!
Man the guy said he finished college but dropped out....who cares?!?!? A Lawsuit...are you kidding me? Sounds like something put out to help short this stock. Hell Bill Gates dropped out of college hahaha....
Re 1/9 article. the stock 7.00 prior to the issues related to the CEO biography and class action suits. WHY IS IT .30 TODAY?
IMO/Guess - dillution/selling since no form 4's were filed from isiders it would appear that any selling is either a result of the "pumper" Pierce 2million shares and/or any remaining shares from the company SB-2 filing 6/07: 9.5M?
So if we assume that up to 11.5M shares could be since Dec - how many are left?
It appears that NITE is shadowing trades and keeping the pps boxed, notice each buy on ask is immediately followed by the same transaction .0001 lower.
CALCULATION OF REGISTRATION FEE
Title of Each Class of Securities
to be Registered(1)
Amount to be Registered(2)
Proposed Maximum Offering Price Per Share(3)
Proposed Maximum Aggregate Offering Price(3)
Amount of
Registration Fee(4)
Shares of common stock, par value $0.001 per share
678,060(5)
$5.40
$3,661,524
$112.41
Shares of common stock, par value $0.001 per share, underlying common stock purchase warrants
678,060(6)
$5.40
$3,661,524
$112.41
Shares of common stock, par value $0.001 per share
205,000(7)
$5.40
$1,107,000
$33.98
Shares of common stock, par value $0.001 per share
3,981,164(8)
$5.40
$21,498,285
$660.00
Shares of common stock, par value, $0.001 per share, underlying common stock purchase warrants
3,981,164(9)
$5.40
$21,498,285
$660.00
Totals:
9,523,448
$51,426,619
$1,578.80
Wednesday, January 9, 2008 - Page updated at 09:18 AM
CellCyte shares plummet; questions raised about CEO's bio
By Ángel González
Seattle Times business reporter
CellCyte co-founder and Chief Executive Gary Reys
Archive | CellCyte shares ride a wave of hype
Shares in fledgling biotechnology company CellCyte Genetics, whose market value soared to more than $400 million last fall after being hyped by offshore shareholders, plunged 55 percent Monday and Tuesday in heavy selling.
The sharp drop coincided with changes made on the company's Web site after The Seattle Times inquired late last week about the accuracy of statements in the biography of CellCyte chief executive and co-founder Gary Reys.
Claims removed from the Web site include statements that Reys had led his previous company "from conception to early human clinical trials in 18 months," and that he had helped an early generic pharmaceuticals company through an initial stock offering and a sale to a drug-industry giant.
Reys said any inaccuracies in his profile were unintentional.
"We at CellCyte strive to be ... truthful and endeavor to display integrity to the public and insist (on) that with our personnel," he wrote in an e-mail. "If an error is brought to our attention we correct it immediately ... "
But other misleading statements remain on the company's site and in the filing it made with the Securities and Exchange Commission to begin trading its shares.
• Both documents state that he "attended the University of Washington and majored in finance." According to university records, however, he enrolled in autumn 1965 and withdrew within weeks; he did not receive any credits toward a degree.
Asked about the discrepancy, Reys said in an e-mail that he attended some night-school business classes at the university and was forced to withdraw from the full-time program due to financial hardship. He said he later enrolled at Auerswald's Business University, a one-time Seattle business college.
• Both documents say Reys received a "CPA designate," and until late last week the Web site said he was a past member of the Washington Society of Certified Public Accountants. But the Washington state Board of Accountancy says he is not registered as a certified public accountant, nor does it have any record that Reys took the CPA test in the state.
Reys said that in 1967 he passed the test on his second try after enrolling in a CPA coaching course at Auerswald's, and became a member of the Washington Society of CPAs until 1969. He added that he never claimed to be "a practicing CPA."
Reys' membership in the association couldn't be verified because the association's records, unlike the Board of Accountancy's, do not extend back to the 1960s.
The SEC filing says that in addition to being chairman, president and CEO at CellCyte, Reys is its chief financial officer and principal accounting officer.
The background of executives plays an outsized role in biotech companies's bid to attract investors, said Paul Latta, a Seattle-based analyst with McAdams Wright Ragen.
"If you can bring management to the table who has a track record of getting drugs through the process, it automatically brings credibility," he said.
Conversely, inaccurate biographical information in SEC filings could open the door to legal action from shareholders, said University of Washington law professor Sean O'Connor.
"Whatever you disclose to the SEC has to be correct, and can't be misleading," said O'Connor, a specialist on securities law. "Often the company was sold to investors based on the strength of the founders."
Major stockholder
Reys owns about a third of CellCyte's shares after a transaction last February when the then-private company combined with a shell company with shares trading in the loosely regulated OTC Bulletin Board and in Frankfurt.
Some 2 million shares of CellCyte are controlled by G. Brent Pierce, a stock promoter banned by the British Columbia Securities Commission, who paid hundreds of thousands of dollars for a campaign of spam faxes and glossy mailers touting the company's stem-cell technology in the U.S. and Germany.
A regulator in B.C. said last month that such tactics are commonly used in "pump-and-dump" schemes to inflate a small company's shares before selling out.
Reys said CellCyte is not responsible for the promotional activity, and that its foray into alternative markets is a legitimate step on its way to a major trading floor like Nasdaq.
The company employs 16 people and recently moved from its startup offices in Kirkland to a larger facility in Bothell.
In a November interview, Reys said investors' faith in the company's patented technology was the reason for its large market capitalization, which at the time made it the area's fourth-most-valuable biotech.
But as of Tuesday, stockholders seemed to have had a change of mind. The company's value was more than halved in two days, to $188 million. Selling volume Tuesday was the highest in the company's eight-month history of trading.
Pharmaceutical background
Reys' CellCyte profile refers to executive stints with Pfizer and Rhone Poulenc Rorer. But it also describes him as part of a "five member founding executive team forming Schein Pharmaceutical, taking the company through an IPO and the acquisition by Bayer AG."
Reys said he was the Western sales manager when Schein Pharmaceutical was formed in 1985. But he acknowledged that he'd left before Bayer bought a 28 percent stake in 1994 and the 1998 IPO.
"In my profile the wording was meant to state events about Schein and has been reworded since," he said by e-mail. "This was not meant to deceive anyone, just a mistake in sequences and, indeed, I was not with Schein at the time of those events."
That claim was absent from the company's Web site Monday, but was back on there as of Tuesday.
CellCyte also eliminated some references to Reys' role in bringing his previous company, Cennapharm, to early clinical trials in humans. Reys' tenure at the company ended in 2003, and was followed by a bitter legal dispute with the company's founders; court documents in that dispute say the company never tested its product on people.
Ángel González: 206-515-5644 or agonzalez@seattletimes.com
Seattle Times researcher Miyoko Wolf contributed to the story
Reyes and Berringer hold over 18M shares each. Their holdings went from a value of 126M to 5.4M in a months time. They better do something to get this pps back up soon.
Pretty quiet this morning but at least they are 90% buys
From what I see the next big resistance is around 1.20, with the lawsuits being settled we should be on our way.
def a plus.
Insider buying shows the best type of confidence in a company.
John fluke THE DIRECTOR seems to be buying quite a few shares over this past months time frame. Doesn't look to me like he is worried about the share price, buying at prices of 47 cents to over $1.17. IMHO DYLAN
All of these so called lawsuits look like lawyer advertisements. I wonder who the actual plantiff in the case is? Could this be the typical ambulance chaseing lawyer syndrom? More questions to follow. DYLAN
Watching this one since last week but waited til today to enter. PPS held a solid 4-7 range until the class action suits started in early January. The basis for these suits is nothing more than discrepencies on the CEO bio on the website? They intially said he ahd a degree when he studied but may not have completed the degree.
So why is taking a month to make a decent bounce? The website looks great, the product R&D sounds impressive along with the site in WA.
Clearly there was some share issues in Dec-early Jan eveident on the trading volume versus earlierin the year but I can't see a reason for a drop for this low.
Anyone know?
looking for a multiday bounce here. GLTA
Got in today. Big bounce coming!
Time to start adding....
Got in this morning...should be good for at least a triple here......
news will be awsome, their pr sounds very positive, very sure of themselves
Rapholz original mailer which was reproduced for those German blast faxes stated $970K I believe.
The Seattle Times did a very comprehensive story on this situation.
$450k is nothing these days - pretty much the smallest you'll see. I've seen over $1.5 million. Postage alone probably eats up a good share of that amount.
http://siliconinvestor.advfn.com/subject.aspx?subjectid=56743
I saw those links.
Can you imagine paying someone $450K plus to put out mailers?
The NY Times picked up on this story today, too. It's in Deal Blog.
Link to that article:
http://seattletimes.nwsource.com/html/biotech/2004060913_cellcyte09.html?syndication=rss
they have some attachments also
Peter, did you get a copy of that mailer? Those Seattle Times guys did a fabulous job on that story.
There's cell phone text and YHOO IM spam now on UTEI.PK.
Sunday, December 9, 2007
CellCyte shares ride a wave of hype
By Ángel González
Seattle Times business reporter
Source: Bloomberg News
For years, the founders of CellCyte Genetics relied on infusions from angel investors to keep their tiny startup afloat. But after Kirkland-based CellCyte combined with a moribund public company, its shares caught fire this fall in the loosely regulated over-the-counter (OTC) market and on Germany's Frankfurt Stock Exchange.
A wave of glossy brochures and spam faxes, touting CellCyte with lofty claims, has helped propel the company's total market value to more than $440 million. That's greater than many local biotechs that are far more advanced in developing therapies. Suddenly, the two founders each have a stake worth about $137 million.
The barrage of hype has been bankrolled, to the tune of hundreds of thousands of dollars, by an outside stockholder — a man whom British Columbia securities regulators have barred from their industry for 15 years.
CellCyte Genetics Chief Executive Gary Reys says he is not concerned about that history, and insists he has no role in the promotional push.
He says the skyrocketing trading volume is simply an "amazing" show of investor confidence in his company's technology for manipulating stem cells, which is still a year away from its first early-stage clinical trials.
A former mining stock
CellCyte bought an inactive B.C. mining company whose stock trades in the OTC market in the U.S., and completed a private placement that let a well-known Canadian promoter of penny stocks acquire millions of shares. A few months later, the spamming began.
That's a pattern familiar to the B.C. Securities Commission, which is trying to crack down on stock-promotion schemes. It "is not untypical of the problem we're facing," said Martin Eady, head of corporate finance at the B.C. Securities Commission.
The commission is writing new rules to restrict what Eady calls a "subculture" of pump-and-dump stock promoters that have thrived in B.C. by taking a large position in an inexpensive stock, hyping it, and unloading it onto unsuspecting investors.
Reys maintains that the acquisition of a shell company is a legitimate way of tapping investors while the firm prepares to enter a major regulated market such as Nasdaq. He said CellCyte isn't a fly-by-night company, it's a "brick-and-mortar organization" with experienced researchers and patented technology.
As for the spam activity, he said, "We have no control over it."
Spammed
Last month, investors participating in German stock message boards began asking questions about an unsolicited fax they'd received promoting CellCyte. The fax reproduced a positive story about the company from the weekly newsmagazine Focus Money, based in Offenburg.
There was also a handwritten note in German: "This is the stock that's about to take off! Greetings, Paul."
In a copy of the fax obtained by The Seattle Times, dated Nov. 19, the fax sender is identified as Stockgroup AG. That's a stock-promotion firm based in Zurich, with offices in Bellingham, according to Swiss government records.
The firm's president, G. Brent Pierce, is a Canadian citizen barred by the B.C. Securities Commission from trading shares or acting as an officer of any B.C. public company until 2008. In the 1993 settlement that led to the ban, he acknowledged presenting false documents to the commission and diverting funds from a small public stock offering to his own use.
Pierce controls about 1.66 million shares of CellCyte through a company called Newport Capital Group, according to a regulatory filing with the Securities and Exchange Commission. Those shares were worth about $12.2 million as of Friday, and his wife, Dana Pierce, owns shares worth an additional $2.5 million.
Pierce's firm is also behind a colorful 12-page mailer distributed since early October to potential U.S. buyers of the stock.
Titled "James Rapholz's Economic Advice," the brochure says CellCyte shares "could be the chance of your lifetime to turn $10,000 into $4 million, maybe even $15 million!"
"This could be the most astonishing investment opportunity since the microchip," it says elsewhere. "This truly could be the most astonishing and important medical breakthrough in your lifetime!"
The fine print at the back of the brochure discloses that Stockgroup AG, Pierce's company, paid Rapholz $445,000 to produce and distribute the mailer. Rapholz, who is based in Florida, didn't return several calls seeking comment.
The article reproduced in the German spam faxes, meanwhile, cited a research report by an analyst named Matthias Redenbach of Midas Research.
The report itself discloses that Midas was paid to write it by Michael Drepper Communications, of Mannheim, Germany. Drepper's name appears alongside that of Brent Pierce as an investor-relations contact in many Frankfurt-traded companies.
Reys said he was aware of Rapholz's newsletter, but had never seen the fax in German, though it is easily found on the German chat boards discussing CellCyte stock.
His lawyers investigated Pierce and found nothing wrong, Reys added.
A review of regulatory filings shows Pierce's Stockgroup AG has also promoted other U.S. companies with low-priced shares where he controlled a large block of stock.
One was oil exploration firm Lexington Resources, whose worth plummeted from about $40 million in the summer of 2006 to less than $1 million as of Friday. Another, Morgan Creek Energy, saw its share price drop to 32 cents after trading as high as $5.30 in October 2006. Both companies traded on the OTC and in German stock exchanges.
Pierce did not respond to messages left at his company's Bellingham office.
On a separate front, CellCyte's auditor also has regulatory issues. Just months after the firm, Williams & Webster of Spokane, signed off on CellCyte's 2006 financial statements, the national Public Company Accounting Oversight Board in June took the unusual step of barring one of its two name partners from associating with any accounting firm, and suspended the other for a year, over inadequate scrutiny of a different public company.
Formed in 2003
CellCyte was co-founded by Reys, a onetime executive at big pharmaceutical firms who later headed two biotechs that fizzled out. His co-founder was Ron Berninger, a biochemist who in the 1990s was a senior scientist at the public company CellPro.
Reys and Berninger launched CellCyte in June 2003. Each of them owns a 31 percent stake, which became 18.6 million shares of the public company.
One of their top recruits was Theresa Deisher, a former Amgen scientist who joined CellCyte as vice president of research in September 2006. She quit the company this past October.
CellCyte has licensed discoveries from the U.S. Department of Veterans Affairs, and has obtained a patent for what it describes as a way to harness adult stem cells into regenerative therapies for the heart, and other organs.
Reys calls it a "Microsoft operating system" for stem cells, because instead of focusing on how to create stem-cell lines, the company is working on a system to deliver them where they're needed.
Before merging with the shell company, CellCyte had raised only about $1 million since its founding, including a loan from GBR Investments, a fund set up by George Rathmann, the late founder of Amgen and Icos.
Rathmann's son, Rick, who runs the fund, said the technology CellCyte had licensed looked interesting, and "my father always had an interest in stem cells."
What's more, he said, part of the fund's mission was to help out starting biotechs, and CellCyte's founders were "desperate" for funding.
This past February, CellCyte paid $1 million to acquire a Vancouver, B.C.-based shell company called Shepard Inc. as a vehicle for attracting funding, Reys said. He said that venture capitalists either wanted too much control over the firm or were unwilling to invest in stem cell research. "We wanted to control our own destiny," he said.
Simultaneously with the merger, the company raised nearly $6 million through a private sale of stock to Pierce and other investors, including two firms based in the Turks and Caicos Islands.
These two firms, run by the same person, also appear alongside Pierce in other penny-stock investments. Together with Pierce they control about 10 percent of CellCyte's nearly 60 million outstanding shares.
Reys said these investors "liked the company, they made big investments."
The money served to expand CellCyte's staff to 16 employees, ramp up the company's preclinical research and lease a new facility in Bothell. It also covers annual salaries of $350,000 for Reys and $205,000 for Berninger.
CellCyte in April brought in an outside director — John Fluke Jr., the former CEO of publicly traded Fluke Corp., who's been a board member at such companies as Paccar, Cell Therapeutics and Tully's Coffee.
Reys said the company is looking for two more directors and beefing up its accounting and software systems as it prepares to seek a listing on Nasdaq next quarter.
He says listing a company and selling shares on the OTC market and in Germany is a way to raise capital, and run a debt-free operation while getting there.
"I think you're going to see this route we took become more common," Reys said.
But the company's eye-popping market value, at such an early stage, has raised some eyebrows.
CellCyte hasn't begun the process of testing its technology in humans, and getting Food and Drug Administration approval for any new drug will take many years.
The value "is a little high considering not a lot has happened yet," said Alan Leong, an analyst with Seattle-based Biotech Stock Research. He said companies focusing on early-stage technology such as stem-cell research tend to polarize investors: their valuations are either "really low, or really high," he said.
Reys said the German market reacted favorably to CellCyte because "Germany is well ahead of the U.S. in stem-cell research." Interest also picked up after the company presented its research at a scientific meeting early last month.
He said the founders aren't poised to benefit from the frenzy around CellCyte because their stock can't be traded yet.
"It doesn't do me a lot of good," he said.
Ángel González: 206-515-5644 or agonzalez@seattletimes.com
Copyright © 2007 The Seattle Times Company
PREV 1 of 2 NEXT
DEAN RUTZ / THE SEATTLE TIMES
Gary Reys, CellCyte Genetics chief executive, says the skyrocketing trading volume is an "amazing" show of investor confidence in its technology for manipulating stem cells.
Related
12-page mailer financed by G. Brent Pierce (PDF)
Disclosure of payment by Pierce's firm (PDF)
German spam fax on CellCyte Genetics (PDF)
Translation of CellCyte's German spam fax (PDF)
B.C. Securities Commission order ÂÂ- G. Brent Pierce (PDF)
Accounting board's order - auditor of CellCyte (PDF)
Archive | Eight indicted in securities-fraud scheme
CellCyte timeline
2003-2005: The company raises $1 million from early investors.
January 2007: CellCyte agrees to combine with Shepard, a B.C.-based shell company that trades in the over-the-counter (OTC) market.
March 2007: Merger is completed and CellCyte raises $6 million from private investors including Canadian stock promoter G. Brent Pierce. Shares begin trading on OTC and the Frankfurt Stock Exchange.
Summer 2007: Company enters several research partnerships and leases a new facility in Bothell.
October 2007: Glossy paid promotional newsletter, James Rapholz's Economic Advice, is sent out to potential stock buyers.
November 2007: CellCyte receives a patent for its technology. Trading of stock intensifies as readers on German discussion boards ask questions about promotional spam faxes.
Source: Securities and Exchange Commission, Bloomberg News, Seattle Times
CellCyte ranks high among the region's public biotechs in total market value
ZymoGenetics: $1,017 million
Seattle Genetics: $842 million
Dendreon: $465 million
CellCyte Genetics: $441 million
Northstar Neuroscience: $229 million
Trubion Pharmaceuticals: $190 million
Cell Therapeutics: $134 million
Nastech Pharmaceutical: $99 million
Targeted Genetics: $38 million
Sonus Pharmaceuticals: $20 million
I'm out... don't want to find out this is a scam down the road LOL
There is heavy accumulation on CCYG - I've got some shares today
thnx whos holding the stock down?
~CCYG News...
CellCyte Genetics Corp. Forms Device Division to Develop and Manufacture Stem Cell Cultivation and Replication Products
Sep 19, 2007 9:15:00 AM
KIRKLAND, Wash., Sept. 19 /PRNewswire-FirstCall/ -- CellCyte Genetics Corporation (the "Company") (OTC Bulletin Board: CCYG) has formed a new Device Division in order to develop, manufacture and market its patented line of stem cell cultivation and replication devices.
CellCyte Genetics is developing stem cell enabling therapeutic products designed to allow more efficient delivery and significantly increased retention of adult stem cells to diseased organs, such as the heart.
Along with its planned human trials for its therapeutics, CellCyte Genetics intends to develop a new stem cell cultivation device or "bioreactor" unit for which CellCyte Genetics owns the worldwide patent and rights. The Company plans to market the device for applications that will require cells to be grown under regulated oxygen concentrations, e.g. the replication of stem cells and the culture of pancreatic islet cells prior to transplantation into diabetic patients.
Dr. Ron Berninger, Chief Scientific Officer of CellCyte Genetics explains, "CellCyte's patented biological cell maintenance system has the unique ability to incubate cultured cells with a very efficient and regulatable oxygen supply, making it an ideal choice for culturing cells that are otherwise difficult to keep alive or to expand. Inside the bioreactor, the cells can also form a 3-dimensional network, which is what most cell types do in major organs of the body."
A key element of this bioreactor is the capability to supply oxygen (by bundles of oxygen fibers) to the cells throughout the entire space in which cells are growing. Stem cells appear to be sensitive to oxygen levels and can be induced to replicate or differentiate in part by controlling the oxygen level.
Using CellCyte's product, scientists, researchers and clinicians should be able to dramatically increase the number of stem cells available for research and potentially for use in stem cell therapies. Management believes that the bioreactor unit will be the Company's first revenue producing research product and is expected be ready for market in 2008.
CellCyte Genetics acquired the patents and rights to the bioreactor unit and several other key technologies from the developer of the technology in 2006 as part of its original Intellectual property portfolio. The Company began work on remolding key parts of the bioreactor for manufacturing earlier this year as part of CellCyte's efforts to prepare for human trials and FDA application for the use of its stem cell therapies. With the manufacturing path and contract suppliers now set, CellCyte has begun gearing up this Device Division to complete development of the bioreactor and several other synergistic technologies.
The Device Division will operate as a separate division of the Company and will carry out R & D, manufacturing, and sales and marketing functions through the facilities of CellCyte Genetics' new facilities in Bothell near Seattle, Washington.
About CellCyte Genetics
CellCyte Genetics, a Washington State company, is an emerging biotechnology company engaged in the principle business of the discovery, development and commercialization of breakthrough stem cell enabling therapeutic products.
For further information see: http://www.cellcyte.com.
Symbol: OTCBB - CCYG; Frankfurt/Berlin Symbol - LK6 WKN. No.: A0MLCV.
Contact North America:
Investor Relations
Toll Free Telephone: 877.688.5050
Contact Europe:
Investor Relations
Telephone: (+49) 69.7593.8451
Safe Harbor Statement
~News~
CellCyte Genetics Corp. Enters Collaborative Research Agreement With Cleveland Clinic to Investigate Stem Cell Delivery in Damaged Heart Tissue
Monday September 17, 9:15 am ET
KIRKLAND, Wash., Sept. 17 /PRNewswire-FirstCall/ -- CellCyte Genetics Corporation (the "Company") (OTC Bulletin Board: CCYG - News) has entered into a collaborative research agreement with physician scientists at Cleveland Clinic of Cleveland, Ohio. The goal of the collaboration is to investigate the presence and regulation of heart receptors involved in stem cell trafficking in normal and diseased human hearts, using CellCyte's proprietary compounds.
CellCyte Genetics is developing stem cell enabling therapeutic products designed to allow more efficient delivery and significantly increased retention of adult stem cells to diseased organs, such as the heart. The goal of this therapy is to increase the number of stem cells delivered to a damaged organ, thereby markedly increasing organ healing and functional restoration. The Company's first product in development, CCG-TH30, is designed to send autologous bone-marrow-derived (adult) stem cells to the heart of patients after a heart attack. In preclinical models, CCG-TH30 has been shown to increase the retention of stem cells up to as much as 80% compared to conventional methods, which achieve only up to about 7%. Importantly, CellCyte's product can be delivered intravenously through the patients' circulatory system without an invasive procedure.
Sathyamangla Prasad Ph.D., and Wilson Tang, M.D., of Cleveland Clinic, who are both accomplished scientists in the field of cardiac biology, will analyze heart tissue samples of heart failure patients for the presence of surface receptors that are hypothesized to play an important role in the interaction of stem cells with the heart. These studies may provide valuable novel information that will increase our understanding of cardiac regeneration and may support the discovery and development of novel stem cell therapeutics for the heart. Work on the project is expected to start in October 2007. Dr. Prasad is the primary investigator.
Cleveland Clinic, located in Cleveland, Ohio, is a not-for-profit multispecialty academic medical center that integrates clinical and hospital care with research and education. Cleveland Clinic was founded in 1921 by four renowned physicians with a vision of providing outstanding patient care based upon the principles of cooperation, compassion and innovation. U.S. News & World Report consistently names Cleveland Clinic as one of the nation's best hospitals in its annual "America's Best Hospitals" survey. Approximately 1,800 full-time salaried physicians and researchers at Cleveland Clinic and Cleveland Clinic Florida represent more than 100 medical specialties and subspecialties. In 2006, there were 3.1 million outpatient visits to Cleveland Clinic, from every state and from more than 80 countries. There were more than 53,000 hospital admissions to Cleveland Clinic. Cleveland Clinic's Web site address is http://www.clevelandclinic.org.
About CellCyte Genetics
CellCyte Genetics, a Washington State company, is an emerging biotechnology company engaged in the principle business of the discovery, development and commercialization of breakthrough stem cell enabling therapeutic products.
For further information see: http://www.cellcyte.com.
Symbol: OTCBB - CCYG; Frankfurt/Berlin Symbol - LK6 WKN. No.: A0MLCV.
Contact North America:
Investor Relations
Toll Free Telephone: 877.688.5050
Contact Europe:
Investor Relations
Telephone: (+49) 69.7593.8451
AN_OX, Just started my dd on this one. It will be slow as i am on vacation in Asia until Oct. 10th. Will check in on the board from time to time.
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