TORONTO - Two small Canadian life science research companies are planning to combine forces to focus on treating cancer with stem cell technologies

Stem Cell Therapeutics Corp. (TSXV:SSS) will acquire Trillium Therapeutics Inc., both headquartered in Toronto, but all of Trillium's executives and staff will remain with the new company being created and Trillium's chief executive will be its CEO.

Under terms of the deal, Trillium's security holders are to receive $1.2 million in cash and shares in the new company — also to be called Stem Cell Therapeutics — valued at $1.65 million.

Trillium CEO Niclas Stiernholm, who is also a director of Stem Cell Therapeutics Corp., will be chief executive of the combined company.

Trillium is a private company that was created to advance work done by six Ontario research institutions. It currently has two oncology research programs at the preclinical stage.

Stem Cell Therapeutics if focused on acquiring technologies and capital to advance treatments towards commercialization.

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