StemCells Names Ian Massey President And COO - Quick Facts

(RTTNews) - StemCells Inc. (STEM) announced that Ian Massey has joined its executive team as President and Chief Operating Officer, effective March 23, 2015. He reports to Martin McGlynn, the Company's Chief Executive Officer.

Massey has over thirty years of pharmaceutical industry experience in all phases of product development, from pre-clinical research and target selection through drug marketing approval. Most recently, he was the COO and President of U.S. Operations of Biotie Therapies Corporation, a publicly traded Finnish company focused on neurodegenerative and psychiatric disorders. Prior to this, in May 2006, Massey co-founded Synosia Therapeutics. Synosia was acquired by Biotie in February 2011.

In connection with his hire, the Company has granted Dr. Massey 750,000 restricted stock units (RSUs) pursuant to the Company's 2012 Commencement Incentive Plan and in accordance with Nasdaq Listing Rule 5635(c)(4) concerning inducement grants to new employees.

Each RSU gives the holder the right to receive upon vesting, without cash payment, a share of StemCells common stock. All of Dr. Massey's RSUs are performance based vesting and will vest upon the timely achievement of predefined clinical milestones relating to the Company's Phase II studies in spinal cord injury and age related macular degeneration.