CORRECTING and REPLACING -- StemCells, Inc. to Participate at the 2016 BIO CEO Conference and Source Capital Group’s 2016 Disruptive Growth and Healthcare Conference

NEWARK, Calif., Jan. 28, 2016 -- In a release issued under the same headline earlier today by StemCells, Inc. (Nasdaq:STEM), please note that in the third paragraph of the release, the 2016 Disruptive Growth and Healthcare Conference date should be Feb. 10, not Feb. 18 as previously stated. The corrected release follows:

StemCells, Inc. (Nasdaq:STEM) announced today that management will make presentations on the Company's programs, pipeline and operations at two upcoming conferences in February.

The Company will be presenting at the 2016 BIO CEO Conference on Feb. 8 at 2:30 p.m. Eastern Standard Time at the Waldorf Astoria in New York City. StemCells, Inc. was recognized as the most innovative public company participating at the BIO CEO Conference this year winning the 2016 “Buzz of BIO” in the public company category.

Management will also be presenting at Source Capital Group’s 2016 Disruptive Growth and Healthcare Conference on Feb. 10 at 9:30 a.m. Eastern Standard Time at the Convene Conference Center, 730 3^rd Avenue, in New York City.

A live webcast of the presentation will be available through the Company's corporate website: http://www.stemcellsinc.com. Interested parties are encouraged to connect to the website at least 15 minutes prior to the presentation to ensure adequate time for any software downloads that may be necessary. In addition, you may directly access the webcasts through the following links:

BIO CEO

http://www.veracast.com/webcasts/bio/ceoinvestor2016/94127289855.cfm

Source Capital Group’s 2016 Disruptive Growth and Healthcare Conference

http://wsw.com/webcast/sourcecap1/stem

A replay will also be accessible for 90 days through the Company's website.

About StemCells, Inc.

StemCells, Inc. is currently engaged in clinical development of its HuCNS-SC platform technology (purified human neural stem cells) as a potential treatment for chronic spinal cord injury (SCI). The Company's Pathway Study, a Phase II proof-of-concept trial in cervical SCI is actively enrolling at twelve sites. Six-month interim data for the first cohort of the Pathway Study showed the first-ever clinical evidence of a treatment effect improving both muscle strength and motor function following cellular transplant in spinal cord injury. Top-line data from the Company's Phase I/II clinical trial in thoracic SCI showed measurable gains involving multiple sensory modalities and segments, including the conversion of two of seven patients enrolled in the study with complete injuries to incomplete injuries, post-transplant. The Company has also completed its Phase I/II clinical trial in geographic atrophy dry age related macular degeneration. Top-line results from this study show a positive safety profile and favorable preliminary efficacy data. In a Phase I clinical trial in Pelizaeus-Merzbacher disease (PMD), a fatal myelination disorder in children, the Company showed preliminary evidence of progressive and durable donor-derived myelination by MRI.

Further information about StemCells, Inc. is available at http://www.stemcellsinc.com.

Apart from statements of historical fact, the text of this press release constitutes forward-looking statements within the meaning of the U.S. securities laws, and is subject to the safe harbors created therein. These forward-looking statements speak only as of the date of this news release. The Company does not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. Such statements reflect management's current views and are based on certain assumptions that may or may not ultimately prove valid. The Company's actual results may vary materially from those contemplated in such forward-looking statements due to risks and uncertainties to which the Company is subject, including those described under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2014 and in its subsequent reports on Forms 10-Q and 8-K.

CONTACT:

Greg Schiffman, Chief Financial Officer
StemCells, Inc. 
(510) 456-4128

Lena Evans
Russo Partners
(212) 845-4262