Stem cell company faked success

A stem cell company is in hot water with the US Securities and Exchange Commission (SEC) for falsely representing an early-stage experimental stem cell therapy as nearing human trials. The SEC yesterday (September 8) filed charges against CellCyte. "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. CellCyte describes itself in a 2005 press release as "a late-stage clinical development company" looking to develop new methods for using cord blood, adult, and peripheral stem cells for use in bone marrow transplants, heart repair, and other ailments. The Scientist