SAN DIEGO, Feb. 28, 2014 (GLOBE NEWSWIRE) -- Fate Therapeutics, Inc. (Nasdaq:FATE), a biopharmaceutical company engaged in the discovery and development of adult stem cell modulators to treat orphan diseases, is joining the Muscular Dystrophy Association (MDA) and other advocacy organizations around the world today to observe Rare Disease Day®.
In the United States, a rare disease is defined as one that affects fewer than 200,000 Americans. According to the National Institutes of Health (NIH), there are over 7,000 rare diseases affecting approximately 30 million Americans, yet fewer than 5% of these disorders have FDA-approved therapies.
"Our mission is to make novel, transformative therapies available to patients with rare, life-threatening disorders, including certain hematologic malignancies, lysosomal storage disorders and muscular dystrophies," said Christian Weyer, M.D., M.A.S., President and Chief Executive Officer of Fate Therapeutics. "In our efforts to discover and develop innovative stem cell therapies for orphan diseases, we are inspired by the stories shared with us by patients, caregivers and health care professionals about the challenges of living with a rare disease that has limited or no therapeutic options."
Fate Therapeutics is proud to support the mission of the MDA, including as a Silver Supporter of its 2013 Scientific Meeting and its upcoming 2014 Clinical Meeting. Fate is also providing support for the 2014 MDA Muscle Walk in San Diego, in which many of its employees will be participating. With roughly one in every ten people in the U.S. afflicted by a rare disease, Fate applauds the MDA and other advocacy groups around the world who are dedicated to improving the lives of these patients through their support of scientific research, patient and caregiver services, educational initiatives, and demand for new therapies.
For more information about Rare Disease Day®, please visit www.rarediseaseday.org
The Muscular Dystrophy Association is the world's leading nonprofit health agency dedicated to finding treatments and cures for muscular dystrophy, amyotrophic lateral sclerosis (ALS) and other neuromuscular diseases. It does so by funding worldwide research; by providing comprehensive health care services and support to MDA families nationwide; and by rallying communities to fight back through advocacy, fundraising and local engagement. Visit mda.org and follow the MDA at facebook.com/MDAnational and @MDAnews.
About Fate Therapeutics, Inc.
Fate Therapeutics is a clinical-stage biopharmaceutical company engaged in the discovery and development of pharmacologic modulators of adult stem cells to treat orphan diseases, including certain hematologic malignancies, lysosomal storage disorders and muscular dystrophies. The Company utilizes established pharmacologic modalities, including small molecules and therapeutic proteins, and well-characterized biological mechanisms to enhance the therapeutic potential of adult stem cells. The Company has built two adult stem cell modulation platforms: a hematopoietic stem cell (HSC) modulation platform, which seeks to optimize the therapeutic potential of HSCs for treating patients with hematologic malignancies and rare genetic disorders that are undergoing hematopoietic stem cell transplantation, and a muscle satellite stem cell modulation platform, which seeks to activate the regenerative capacity of muscle for treating patients with degenerative muscle disorders. The Company is presently advancing its lead product candidate, PROHEMA®, a pharmacologically-modulated HSC therapeutic derived from umbilical cord blood, which is in Phase 2 clinical development for hematologic malignancies. Fate Therapeutics is also advancing its proprietary Wnt7a protein analogs in preclinical development for the treatment of muscular dystrophies. Fate Therapeutics is headquartered in San Diego, CA. For more information, please visit www.fatetherapeutics.com.
Forward Looking Statements
This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the therapeutic potential of our programs for the modulation of adult stem cells to treat orphan diseases, including PROHEMA® and our Wnt7a protein analogs, and our ability to complete preclinical and clinical development as planned. These and any other forward-looking statements in this release are based on management's current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. In particular, management's expectations could be affected by, among other things, the uncertainties inherent in research and development, including unexpected clinical trial results and additional analysis of existing clinical data; the difficulty of predicting the timing or outcome of product development efforts and regulatory agency approvals or actions, if any; unexpected regulatory actions or delays or government regulation generally; general economic and industry conditions; difficulties or delays in manufacturing; and such other risks and uncertainties detailed in the company's periodic filings with the Securities and Exchange Commission, including but not limited to the company's Form 10-Q for the quarter ended September 30, 2013, and from time to time the company's other investor communications. Fate Therapeutics is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.
Paul Cox, Stern Investor Relations, Inc. 212.362.1200,
Fate Therapeutics, Inc
San Diego, California, UNITED STATES
Paul Cox, Stern Investor Relations, Inc. 212.362.1200,
Day's Range: 5.35-5.43
Previous Close: 5.38
Market Cap: 110.22M
Day's Volume: 1,875
Fate Therapeutics logo