A stem cell company is in hot water with the linkurl:US Securities and Exchange Commission (SEC);http://www.sec.gov/ for falsely representing an early-stage experimental stem cell therapy as nearing human trials.
The SEC yesterday (September 8) linkurl:filed charges;http://www.sec.gov/news/press/2009/2009-195.htm against linkurl:CellCyte,;http://www.cellcyte.com/ based in Bothell, Wash., as well as the company's former CEO and former chief scientific officer who were involved in the alleged deception, linkurl:according to Forbes.com.;http://www.forbes.com/feeds/afx/2009/09/08/afx6859405.html "The company really tried to take advantage of the hype over stem cells to give the false impression that they were on the verge of clinical trials when really it was just an early stage project that was going to require years of additional research and testing," SEC staff attorney Steven Buchholz told The Scientist. In October 2005, CellCyte licensed several compounds that could deliver stem cells to various organs in the...
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Update (9th September 2009)The Scientist
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