Medistem Laboratories Inc. (fka MEDS)

[thomasichimmedistem]

Dear SABAI,

The reasons why I resigned from CEO and took the position of President and Chief Scientific Officer was because the company was fortunate to recruit Alan Lewis, Ph.D as our CEO.

In preparation for our going back to fully reporting, my rationale was that I needed a CEO with visibility and a track record of success.

Having known Dr. Lewis for many years, and witnessing his successes:

a) Growing Signal Pharmaceuticals and selling to Celgene ($300 million transaction)

b) Raising $27 million for NovoCell (now called ViaCyte), a preclinical stem cell company

c) Being former CEO of the Juvenile Diabetes Research Foundation (JDRF), which is the National funder of diabetes research.

d) Being Board Member of the $8.7 Billion company BioMarin

...I thought that it would be in the interest of shareholders and the company to have Dr. Lewis to take the helm of the company.

I hope that this clarifies the rationale for my decision. If you have any questions, please refer to our filings, or call me directly at 858 349 3617.

Best wishes

Tom

Thomas E Ichim, Ph.D,
President and Chief Scientific Officer
9255 Towne Centre Drive
Suite 450
San Diego
CA 92122