NeoStem, Inc.(NYSE Amex: NBS) ("NeoStem" or the "Company"), an internationalbiopharmaceutical company with operations in the U.S. and China, todayannounced the official launch of the Company's Adult Stem Cell CollectionCenter and Research & Development ("R&D") laboratory at the Company's 8,000square foot facility at the Riverside Technology Center in Cambridge,Massachusetts.
The NeoStem Cambridge Center launch will be marked by an on-siteribbon-cutting event, speakers program and facility tour scheduled for Tuesday,April 27th, at 12:00 p.m. at 840 Memorial Drive on the 4th Floor. The launchevent will be hosted in association with The Massachusetts Life SciencesCenter and the Massachusetts Biotechnology Council (MassBio), of which NeoStemis a member. Featured speakers scheduled to participate in the special eventinclude:
The program's distinguished speakers will discuss not only the excitingadult stem cell research they will be conducting for therapeutic development,but also the impact NeoStem will make in the Cambridge community.
"We are excited about the official launch of our new Adult Stem CellCollection Center and R&D facility in Cambridge, Massachusetts, the heart ofone of the top bioscience communities in the country," commented Dr. RobinSmith, Chairman and CEO of NeoStem, Inc. "The R&D center underscores ourcommitment to research and development and our continued goal of excellence inadult stem cell technologies. In connection with the Company's recentexpansion into China, we are pursuing the build-out of additional laboratorycapabilities in Beijing, China to enhance our response to the growing needsfrom our Chinese collaborators."
The addition of NeoStem's Adult Stem Cell Collection Center at theCompany's Cambridge location will enable individuals to donate and store theirown (autologous) stem cells for personal use in times of potential medicalneed in the future. In this growing field, adult stem cell therapies are beingdeveloped for cosmetic procedures and for the treatment of heart disease,orthopedic issues, breast cancer and multiple sclerosis, among other potentialtherapeutic uses.
Strategically located in close proximity to Harvard University and theMassachusetts Institute of Technology, NeoStem Cambridge's R&D laboratoryfeatures a blood collection/apheresis center, on-site cryogenic storage ofresearch samples, cell culture laboratory, and a new 16-channel Beckman flowcytometer with cell counting and sorting capabilities. The Company hasrecently hired three full-time researchers to support its stem cell researchand clinical development for a current total of seven full-time employees atthis facility.
NeoStem plans to expand its basic research and development activities andemploy additional researchers with the goal of attaining a deeperunderstanding of stem cell biology and providing active support to itsacademic and clinical partners. The Cambridge R&D laboratory will also supportthe planned development of a commercial product that the Company expects willfacilitate the separation of very small embryonic like stem cells from blood,enabling NeoStem to create high-throughput, cell-based assays for use inpharmaceutical and nutraceutical research.
About NeoStem, Inc.
NeoStem, Inc. is engaged in the development of stem cell-based therapiesand building of a network of adult stem cell collection centers in the U.S.and China that are focused on enabling people to donate and store their own(autologous) stem cells for their personal use in times of future medical need.The Company is also the licensee of various stem cell technologies, includinga worldwide exclusive license to VSELTM technology which uses very smallembryonic-like stem cells, shown to have several physical characteristics thatare generally found in embryonic stem cells, and is pursuing the licensing ofother technologies for therapeutic use. NeoStem's majority-controlled Chinesepharmaceutical operation, Suzhou Erye, manufactures and distributes genericantibiotics in China. For more information, 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 new R&D facility inCambridge, the expansion of the collection network and the development of stemcell therapies, about which no assurances can be given. The Company's actualresults could differ materially from those anticipated in theseforward-looking statements as a result of various factors. Factors that couldcause future results to materially differ from the recent results or thoseprojected in forward-looking statements include the "Risk Factors" describedin the Company's Annual Report on Form 10-K filed with the Securities andExchange Commission on March 31, 2010, as well as other periodic filings madewith the Securities and Exchange Commission. The Company's further developmentis highly dependent on future medical and research developments and marketacceptance, which is outside its control.-- Timothy Murray, Massachusetts Lieutenant Governor -- Robin Smith, M.D., Chairman and CEO of NeoStem -- Susan Windham-Bannister, President and CEO Massachusetts Life Sciences Center -- Robert Coughlin, MassBio President and CEO -- Wayne Marasco, M.D., Ph.D., Chairman of NeoStem's Scientific Advisory Board
SOURCE NeoStem, Inc.