Stem cell co. faked success: SEC

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. Image: Wikimedia commons, Centers for Disease Control and Prevention's Public Health Image LibraryThe 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 a

Jef Akst
Jef Akst

Jef Akst is managing editor of The Scientist, where she started as an intern in 2009 after receiving a master’s degree from Indiana University in April 2009 studying the mating behavior of seahorses.

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Sep 8, 2009
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.
Image: Wikimedia commons, Centers for
Disease Control and Prevention's
Public Health Image Library
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...
Update (9th September 2009)The Scientist




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