Stem Cell Institute

June 10, 2010

Dear Friends

 

Recently, there has been some misinformation in the news and on the Internet regarding Cell Medicine/The Stem Cell Institute.  We are writing you today to share the facts.

In early June, The Stem Cell Institute proactively and independently made the business decision to close its clinic and lab in Costa Rica and centralize all operations in Panama City, Panama, where we have operated since 2007.

We came to this decision after careful and thoughtful consideration.  Simply put, while Costa Rica is a wonderful country, its unpredictable and changing regulatory landscape imposed too much uncertainty.  Because we follow the highest standards of ethics, transparency and consistency, the lack of clarity regarding adult stem cell treatment regulation in Costa Rica was too great a risk to continue our work there.

Some erroneous media reports have suggested that we were shut down by Costa Rica's Health Ministry.  This is false.  In fact, the Health Minister herself recently issued a clarification stating that in no way did she or anyone within her department order the closure of our facility.  While it was difficult, the decision to close our facility and consolidate all operations in Panama was made independently and voluntarily by Cell Medicine/The Stem Cell Institute.

We will dearly miss our colleagues, patients and friends in Costa Rica and are very proud of our work there.  In just four years, we helped hundreds of people who are challenged with chronic diseases for which there are inadequate standard therapies, such as Cerebral Palsy, Multiple Sclerosis, Osteoarthritis, Rheumatoid Arthritis, Muscular Dystrophy, and Spinal Cord Injuries.

Moving forward, the company's commitment to helping patients with chronic diseases benefit from new, cutting edge adult stem cell therapies is unchanged.  Our vibrant, growing clinic in Panama City has already served more than 150 patients since opening in 2007.  The government of Panama has clearly-defined laws that regulate adult stem cell therapies.  Moreover, Panama City is an easily accessible metropolitan city with world-class facilities and accommodations to better serve our patients.  The Stem Cell Institute's facilities in Panama are fully licensed and certified, and we stand ready to work with you to address your specific challenges.

Please, if you have any questions or concerns, call us at 1-800-980-STEM.  Included with this correspondence is a "Frequently Asked Questions" document that addresses many common questions regarding this change.  Lastly, we have created a Facebook page where our community of doctors and patients can connect to share information and learn more about the promising advancement of adult stem cell therapies.  Go to www.facebook .com and search for The Stem Cell Institute.  When you "like" our Facebook.com page you will become a part of our online community.

Thank you for your support and understanding. Every day, current and former patients refer others with chronic diseases to our clinic. This is a testament to the work of our highly trained doctors and other medical specialists who have dedicated years to uncovering new treatments to aid those challenged by chronic diseases.  Together with you we are building a promising future.

Kind regards,

Neil Riordan
CEO