The World Economic Forum Technology Pioneers 2006: Theravitae Selected for Stem Cell Innovations

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The World Economic Forum today announced 36 Technology Pioneers for 2006. TheraVitae, represented by its CEO, Dr. Valentin Fulga, MD, has been selected as one of these Technology Pioneers.

The World Economic Forum today announced 36 Technology Pioneers for 2006. TheraVitae, represented by its CEO, Dr. Valentin Fulga, MD, has been selected as one of these Technology Pioneers.

Technology Pioneers are companies that have been identified as developing and applying highly transformational and innovative technologies in the areas of energy, biotechnology and health, and information technology. This year's class of companies has been selected not only because of the cutting-edge work undertaken by the organizations, but also because their work has potential long-term impact on business and society.

TheraVitae’s novel technology produces therapeutic adult stem cell populations using a laboratory process that isolates, further expands and differentiates stem cells that were harvested from a small volume of the patient’s own blood. Therapies based on this technology exploit the body’s natural healing mechanisms by using the patient’s own cells to treat heart and other incurable diseases. The first commercial product based on this technology is VesCell™, which is being used to successfully treat severe cardiovascular disorders. VesCell consists of Angiogenic Cell Precursors, cells with the capacity to induce blood vessel and muscle tissue formation in the heart. VesCell is administered to patients via standard catheterization or endoscopic injection to regions of the heart suffering from reduced blood supply.

“Inclusion in this respectable list of Technology Pioneers is an honor for the dedicated and skilled staff at TheraVitae who I represent. Together we will do our utmost to remain at the cutting edge of new cell-based treatments and manufacturing processes. We will continue to implement our credo: ‘let the body cure itself’, offering real hope to patients suffering from many hitherto untreatable diseases,” commented Dr. Fulga.

TheraVitae is expanding its operations into the United States and Europe and is planning to initiate clinical trials early next year. In addition, a clinical trial to assess the efficacy of VesCell™ in the treatment of peripheral arterial disease is planned to be started soon. The Company is leveraging its broad platform technology to develop additional cellular treatments. This will open a remarkable new horizon for the company’s products bringing hundreds of millions of people suffering from degenerative disorders closer to a potential cure.

About the Technology Pioneers Programme:

In line with the Forum's commitment to improving the state of the world, the Technology Pioneers programme was established in 2000 to provide a new perspective on technological change. The programme is run by the World Economic Forum with Apax Partners and Deloitte Touche Tohmatsu as Strategic Partners. Through its Technology Pioneers programme, the Forum identifies and integrates those companies around the world that are involved in the design and development of new technologies. Each innovation, whether it has large or small consequences, is another step in society's attempt to harness, adapt and utilize technology to change and improve our world. The World Economic Forum is invested in monitoring and highlighting these innovations and exploring possible societal repercussions.

Each year, members, constituents and collaborators of the World Economic Forum nominate Technology Pioneers. The criteria for selection include:

1. Innovation. The company's technology must be truly innovative. A new version or repackaging of an already well-accepted technological solution does not qualify as an innovation. The innovation should be recent - not more than two years old. The company should invest significantly in R&D.

2. Potential Impact. This company's technology must have the potential to have a substantial long-term impact on business and society in the future.

3. Growth and Sustainability. The company should have all the signs of a long-term market leader and should have well-formulated plans for future development and growth.

4. Proof of Concept. The company must have a product on the market or have proven practical applications of the technology. Companies in "stealth" mode and companies with untested ideas or models will not qualify.

5. Leadership. The company must have visionary leadership that plays a critical role in driving the company towards reaching its goals.

6. Status. The company must not currently be a Member of the World Economic Forum. This criterion applies to the parent company - thus wholly-owned subsidiaries of large firms are not eligible.

Nominees are evaluated by an external review committee comprised of technology experts with respect to the criteria above.

The uniqueness of the Technology Pioneer network ensures that companies involved in the development of new technologies are engaged in an integrated and interdisciplinary way. The Technology Pioneers community will provide the Foundation and its members with in-depth knowledge of some of the key technology issues facing society.

About the World Economic Forum:

The World Economic Forum (http://www.weforum.org), based in Geneva, Switzerland, is an independent organization committed to improving the state of the world. Funded by the contributions of 1,000 of the world's foremost corporations, the Forum acts in the spirit of entrepreneurship in the global public interest to further economic growth and social progress. The Forum serves its members and society by creating partnerships between and among business, political, intellectual and other leaders of society to define, discuss and advance key issues on the global agenda. Incorporated in 1971 as a foundation, the World Economic Forum is impartial and not-for-profit, and is tied to no political, partisan or national interests. In 1995 the Forum was awarded NGO consultative status with the Economic and Social Council of the United Nations.

Note to Editors:

For more information on the World Economic Forum's Technology Pioneers and the 36 nominees go to http://www.weforum.org/techpioneers

High-resolution, print-quality photographs of the nominees can be downloaded from http://www.pbase.com/forumweb/techpioneers

The World Economic Forum is an independent international organization committed to improving the state of the world by engaging leaders in partnerships to shape global, regional and industry agendas.

Incorporated as a foundation in 1971, and based in Geneva, Switzerland, the World Economic Forum is impartial and not-for-profit; it is tied to no political, partisan or national interests. (http://www.weforum.org)

WEF Press Contact:

Matthias Lüfkens

Senior Media Manager

Tel.: +41 (0)22 869 1424

Fax: +41 (0)22 869 1394

http://www.weforum.org

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Jay Lenner
THERAVITAE
+66 2-664-4290
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