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StemCells, Inc. Appoints Greg Schiffman As Chief Financial Officer

NEWARK, Calif., Nov. 14, 2013 (GLOBE NEWSWIRE) -- StemCells, Inc. (Nasdaq:STEM), a leading stem cell company developing novel cell-based therapeutics for disorders of the central nervous system, today announced that Greg Schiffman will join its executive team as Chief Financial Officer and Executive Vice President of Finance, effective January 1, 2014. In his new role, Mr. Schiffman will be responsible for all aspects of the Company's financing activities, financial reporting and controls, corporate communications, and investor relations.

Mr. Schiffman is a seasoned executive in the healthcare industry, with over fifteen years of experience leading the financial operations and strategy of global publicly-traded companies such as Affymetrix and Applied Biosystems. Most recently, Mr. Schiffman was Executive Vice President and CFO of Dendreon Corporation since 2007, where he had primary responsibility for capital raising, financial reporting and controls, information technology, and investor relations. In April 2010, Dendreon secured marketing authorization from the U.S. Food and Drug Administration (FDA) for Provenge®, the world's first cell–based autologous immunotherapy for prostate cancer, followed by European Commission authorization in September 2013.

"We're delighted to have Greg join StemCells as it transitions to Phase II, clinical proof of concept trials," said Martin McGlynn, President and Chief Executive Officer of StemCells, Inc. "Greg brings deep experience across all facets of finance and has a long history of helping emerging technology companies efficiently scale their operations, develop and launch new products, and expand into new markets. StemCells has an incredible team and first-in-class technology, and has cemented its position as one of the key technology innovators in the stem cell industry. I am very excited to bring Greg into the Company to build on its momentum and successes to date, and to help prepare the Company for commercial success."

"StemCells has built its reputation on demanding excellence, world-class science and thoughtful product development," said Mr. Schiffman. "I believe the Company's technology has the potential to be a game changer in the treatment of a vast range of disorders affecting the CNS, and I am thrilled to join StemCells at such an exciting time for the Company."

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