Why did Stem Cell Sciences (ARC) sell its operating companies?
Despite increasing income to over £1m in 2008, the investment climate proved to be too weak to sustain the level of investment that was required to see Stem Cell Sciences plc (as it was then called) through to a cash break-even point and the board was therefore faced with placing the Company into Administration unless they could secure a buyer for either the whole Company or its assets, by the end of 2008. StemCells, Inc. approached the Company at the end of November 2008 and provided secured loans which enabled the Company to survive intact until the acquisition could be executed by both parties.
