StemCells Grants License to BioWhittaker for Human Neural Stem Cells For Research Use

PALO ALTO, Calif., Jun 28, 2002 /PRNewswire-FirstCall via COMTEX/ -- StemCells, Inc. (Nasdaq: STEM) announced today that it has entered into a license agreement with BioWhittaker, Inc., a subsidiary of Cambrex Corporation (NYSE: CBM), authorizing BioWhittaker to manufacture, use and sell certain proprietary human neural stem cells for educational and research purposes.

"The granting of this license provides researchers greater access to neural stem cells through the leading, world-class global supplier of normal human cells. We all need to learn more about the ways in which neural stem cells can be used to improve human health," said Martin McGlynn, President and CEO of StemCells. "We hope that more research will shorten the time until the cells can be used for therapeutic purposes."

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About Stem Cells Inc.
StemCells, Inc. uses proprietary technology to isolate, purify and expand stem or progenitor cells. The goal is to use these cells to repair or repopulate neural or other tissue that has been damaged or lost due to disease or injury.

About Cambrex
Cambrex is a global, diversified life science company dedicated to providing high quality products and services to accelerate drug discovery, development, and manufacturing processes for the pharmaceutical, biopharmaceutical, biotechnology, and research markets. With approximately 2000 employees worldwide, Cambrex provides pharmaceutical development and manufacturing services, from grams to tons, to ethical and generic drug companies using both biological and chemical platforms. For the bioresearch market, Cambrex supplies essential tools for DNA and protein separation and sequencing, cell based bioassays for toxicology testing, and the broadest line of normal human cells, including adult stem cells. For more information about Cambrex, please visit http://www.cambrex.com.

Forward-Looking Statements
Apart from statements of historical facts, the text of this press release constitutes forward-looking statements regarding, among other things, the future business operations of StemCells, Inc., or of StemCells California, Inc., its wholly-owned subsidiary (collectively, "the Company"). The Company's actual results may vary materially from those contemplated in the forward-looking statements due to risks and uncertainties to which the Company is subject, including uncertainties regarding the Company's ability to obtain the capital resources needed to conduct the research, pre-clinical development and clinical trials necessary for regulatory approvals; the fact that the Company's stem cell technology is at the pre-clinical stage and has not yet led to the development of any proposed product; the uncertainty whether any products that may be generated in the future in the Company's stem cell programs will prove clinically effective and not cause tumors or other side effects; the uncertainty whether the Company will achieve revenues from product sales or become profitable; and others that are described in Exhibit 99 to the Company's Annual Report on Form 10-K entitled "Cautionary Factors Relevant to Forward Looking Statements."

SOURCE StemCells, Inc.

CONTACT: Martin McGlynn, President & CEO of StemCells, Inc., +1-650-475-3100, ext. 108; Charles Piazza, Vice President & General Manager of BioWhittaker Inc., +1-301-898-7025; or Brad Miles, media, of BMC Communications, +1-212-477-9007, ext. 17

URL: http://www.cambrex.com