Stocks & Investing
Stocks and Investing
Stocks and Investing
Wed, July 29, 2009
Tue, July 28, 2009 Spring Creek Capital Corporation: Spring Creek Capital Corporation (OTCBB: SCRK) Hires Industry Veteran to Lead New Venture in
MERRITT ISLAND, FL--(Marketwire - July 28, 2009) - Spring Creek Capital Corporation (
The mission of the new company will be to provide education and affordable stem cell storage services to all individuals seeking them. In addition, the company will be working with scientists to advance knowledge and uses for stem cells particularly as they relate to personalized medicine.
Stem cells are the cells that make up everything in our bodies from teeth to major organs. The new company, whose name will be announced shortly, will be working with adult stem cells from various sources in an effort to provide individuals with the ability to take advantage of current and future scientific advancements. Many people who missed the opportunity to store their newborn child's umbilical cord blood are seeking other ways to provide what some have referred to as "biological insurance."
Mr. Brunoehler has been working in the cord blood stem cell area since 1995 when he established one of the oldest, largest cord blood banks in the world. Cord blood stem cells have been used in more than 11,000 transplants worldwide, to date, mostly for children with life threatening diseases. Mr. Brunoehler was responsible for setting up the first and only nationwide system whereby expectant mothers can sign up to donate their babies' cord blood stem cells from anywhere in the Continental United States, year round. He worked with representatives from Illinois and Wisconsin to draft the first legislation in the country to bring awareness and education to all potential donors in those states. Through his committee work with numerous related organizations, Mr. Brunoehler has been able to establish many unique research and development opportunities including technology licensing in Europe and Asia. He has been a sought after speaker around the world as he continues to display his passion for the field.
"I am eagerly looking forward to working with the great support team at Spring Creek," said Brunoehler. "They (Spring Creek) have unusual visionary foresight about this still young industry, coupled with the desire to contribute whatever is needed to take a leadership position in the industry. Our long range corporate plan will take us to places others have talked about but not yet reached. We have the advantage of learning from many mistakes that have been made as well as the positive steps that have been taken."
Spring Creek Capital recently elected to be treated as a business development corporation (BDC) under the Investment Company Act of 1940 and will focus on portfolio investments in companies developing cutting edge solutions for the healthcare market.
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that these forward-looking statements involve uncertainties and risks that could cause actual performance and results of operations to differ materially from those anticipated. These risks and uncertainties include issues related to the ability to: obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new ventures, as well as other factors set forth in Spring Creek Capital's most recently filed Form 10-K and Form 10-Q reports. The forward-looking statements contained herein represent the Company's judgment as of the date of this release and it cautions readers not to place undue reliance on such statements. Spring Creek Capital assumes no obligation to update the statements contained in this release.
