NEW YORK, March 4 NeoStem, Inc. (NYSE Amex:NBS) ("NeoStem" or the "Company"), an international biopharmaceutical companywith operations in the U.S. and China, announced today that it has enteredinto a sponsored research agreement (SRA) with the University of Michigan toevaluate bone defect repairs using human stem cells. The one-year project,beginning in March, will be funded through the proceeds of a $108,746 grantfrom the National Institutes of Health (NIH) under the Small BusinessInnovative Research Program (SBIR). Under terms of the SRA, NeoStem will havethe first option to license discoveries stemming from the project.
Funding from this grant will support the study of the potential of verysmall embryonic-like stem cells to form bone in an animal model and regeneratea critical sized bone defect using NeoStem's proprietary VSEL(TM) Technology.Very small embryonic-like stem cells are a heterogeneous population of stemcells found in adult bone marrow that have properties similar to those ofembryonic stem cells. These cells have the potential to achieve the positivebenefits associated with embryonic stem cells without the ethical or moraldilemmas or certain of the potential negative effects associated withembryonic stem cells. The effort at the University of Michigan will be led byprincipal investigator Dr. Russell Taichman, Professor of Dentistry,Department of Periodontics and Oral Medicine at the University of MichiganSchool of Dentistry. "My team and I are excited about the partnership withNeoStem," said Dr. Taichman. "The early evidence that very small embryonic-like stem cells can differentiate into mesenchymal cells and then regeneratebone tissue lays the foundation for the study of these cells as autologoustherapeutic agents, with the potential to treat conditions such as woundhealing, burns and fractures, orthopedic disorders and bone diseases such asosteoporosis."
"We are grateful to the NIH for this grant to fund research using ourVSEL(TM) Technology to develop potential therapy for bone diseases," saidRobin Smith, M.D., Chairman and CEO of NeoStem. "Our research team is lookingforward to leveraging our adult stem cell expertise to advance theunderstanding and development of autologous adult stem cell therapies forosteoporosis and other regenerative diseases. We are excited to partner withDr. Russell Taichman and his team in this important pursuit."
About NeoStem, Inc.
NeoStem, Inc. is engaged in the development of stem cell-based therapies,pursuit of anti-aging initiatives and building of a network of adult stem cellcollection centers in the U.S. and China that are focused on enabling peopleto donate and store their own (autologous) stem cells for their personal usein times of future medical need. The Company is also the licensee of variousstem cell technologies, including a worldwide exclusive license to VSEL(TM)Technology which uses very small embryonic-like stem cells, shown to haveseveral physical characteristics that are generally found in embryonic stemcells, and is pursuing the licensing of other technologies for therapeutic use.NeoStem's majority-controlled Chinese pharmaceutical operation, Suzhou Erye,manufactures and distributes generic antibiotics in China. For moreinformation, please visit: http://www.neostem.com .
This press release contains forward-looking statements within the meaningof the Private Securities Litigation Reform Act of 1995. Forward-lookingstatements reflect management's current expectations, as of the date of thispress release, and involve certain risks and uncertainties. Forward lookingstatements include statements herein with respect to the success of theCompany's VSEL(TM) Technology in repairing bone defects, the new stem cellcollection center and future expansions, as well as the future of stem cell inmedical treatment about which no assurances can be given. The Company's actualresults could differ materially from those anticipated in these forward-looking statements as a result of various factors. Factors that could causefuture results to materially differ from the recent results or those projectedin forward-looking statements include the "Risk Factors" described in theCompany's Registration Statement on Form S-1 filed with the Securities andExchange Commission on as well as periodic filings made with the Securitiesand Exchange Commission. The Company's further development is highly dependenton future medical and research developments and market acceptance, which isoutside its control.For more information, please contact: NeoStem, Inc. Robin Smith, CEO Phone: +1-212-584-4174 Email: email@example.com Web: http://www.neostem.com CCG Investor Relations, Inc. Lei Huang, Account Manager Phone: +1-646-833-3417 Email: firstname.lastname@example.org Web: http://www.ccgirasia.com Crocker Coulson, President Phone: +1-646-213-1915 Email: email@example.com
SOURCE NeoStem, Inc.