NEW YORK, Dec. 8, 2011 /PRNewswire/ -- NeoStem, Inc. (NYSE Amex: NBS) ("NeoStem" or the "Company"), an international biopharmaceutical company with a focus on cell based therapeutics development, today announced two appointments to its Board of Directors. These appointments are Martyn D. Greenacre, an experienced business leader in the biopharmaceutical industry who formerly served on the board of Cephalon, Inc. and joins as an additional independent director, and Dr. Andrew L. Pecora, a leader in the field of cellular therapeutics, currently Chief Medical Officer of NeoStem, Chief Scientific Officer of Amorcyte, Inc., and the former Chairman and CEO of Progenitor Cell Therapy, LLC ("PCT").
Martyn D. Greenacre was Chairman of the Board of BMP Sunstone Corporation, which was acquired by sanofi-aventis in February 2011. Mr. Greenacre also served as a director of Cephalon Inc., a biopharmaceutical company that was acquired by Teva Pharmaceutical Industries in October 2011. He currently has the role of Chairman of the Board of Acusphere, Inc., a drug delivery company, and sits on the board of Curis, Inc., a biotechnology company. From 1997 to 2001, Mr. Greenacre served as Chief Executive Officer and director of Delsys Pharmaceutical Corporation, a formulation and drug delivery system company, where he helped raise more than $50 million in equity and partnership financing and formed three development partnerships with leading pharmaceutical companies. From 1993 to 1997, Mr. Greenacre served as President and Chief Executive Officer of Zynaxis Inc., a biopharmaceutical company, where he was responsible for a critical acquisition, divesting a non-performing business and negotiating a strategic merger. From 1989 to 1992, Mr. Greenacre was Chairman, Europe, SmithKline Beecham Pharmaceutical Company. He joined SmithKline & French in 1973, where he held positions of increasing responsibility in its European organization. Mr. Greenacre received a B.A. from Harvard College and an MBA from Harvard Business School.
Andrew L. Pecora, M.D., F.A.C.P., is co-founder and past Chairman and Chief Executive Officer for PCT, which is now a NeoStem company. Dr. Pecora currently serves as NeoStem's Chief Medical Officer, Vice President of Cancer Services and Chief Innovations Officer of the John Theurer Cancer Center at Hackensack University Medical Center, and Co-Managing Partner of the Northern New Jersey Cancer Center. Dr. Pecora brings a variety of business development and practical business skills to NeoStem. He has worked with numerous companies in developing their products and manages a large clinical practice and cancer department at a major health care institution. Dr. Pecora also has significant experience in the design of clinical trials (Phase I to III), institutional review board practices, conducting clinical trials, clinical research, and in payor relationships both domestically and on a global basis. Dr. Pecora received his M.D. from the University of Medicine and Dentistry of New Jersey, graduating with honors. He went on to complete his medical education in internal medicine at New York Hospital and in hematology and oncology at Memorial Sloan-Kettering Cancer Center, both in New York City. He is board certified in internal medicine, hematology, and oncology. Dr. Pecora's appointment to the NeoStem Board of Directors was a term of the Company's merger agreement with PCT in January 2011.
Dr. Robin L. Smith, Chairman and CEO of NeoStem, stated "The appointment of these two professionals to our Board of Directors represents a significant expansion of our Board's experience. These two board members will be key to advancing our portfolio both in the industry and in the clinic. Mr. Greenacre's extensive experience as a leader and board member of biotechnology and pharmaceutical firms will help NeoStem in its ongoing transition from research and development into clinical development and commercialization. Dr. Pecora is a natural addition to our Board, due to his work to found and develop PCT and Amorcyte, both of which NeoStem acquired this year."
Mr. Martyn D. Greenacre stated "I look forward to sharing my experience creating pharmaceutical partnerships to move NeoStem's product candidates forward." Dr. Andrew L. Pecora stated "I am excited to expand my leadership role at NeoStem by joining a Board that brings together business, corporate governance, and pharmaceutical experience. I look forward to focusing on NeoStem's development of its clinical assets including Amorcyte and Athelos."
About NeoStem, Inc.
NeoStem, Inc. ("NeoStem") is a leader in the development and manufacture of cell therapies. NeoStem has a strategic combination of revenues, including that which is derived from the contract manufacturing services performed by Progenitor Cell Therapy, LLC, a NeoStem company. That manufacturing base is one of the few cGMP facilities available for contracting in the burgeoning cell therapy industry, and it is the combination of PCT's core expertise in manufacturing and NeoStem's extensive research capabilities that positions the company as a leader in cell therapy development. Amorcyte, Inc., also a NeoStem company, is developing a cell therapy for the treatment of cardiovascular disease. Amorcyte's lead compound, AMR 001, represents NeoStem's most clinically advanced therapeutic, poised to commence enrollment in a Phase 2 trial for the preservation of heart function after a heart attack. Athelos Corporation also a NeoStem company is developing a T-cell therapy for a range of autoimmune conditions with their partner Becton-Dickinson. NeoStem's pre-clinical assets include its VSEL™ Technology platform for regenerative medicine, which NeoStem believes is an endogenous pluripotent non-embryonic cell that has the potential to change the paradigm of cell therapy as we know it today.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward looking statements include statements herein with respect to the successful execution of the Company's business and medical strategy, including with respect to the development of AMR-001 and other cell therapy products. The Company's actual results could differ materially from those anticipated in these forward- looking statements as a result of various factors. Factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the "Risk Factors" described in the Company's definitive proxy statement filed with the Securities and Exchange Commission on September 16, 2011 and in the Company's periodic filings with the Securities and Exchange Commission. The Company's further development is highly dependent on future medical and research developments and market acceptance, which is outside its control.
For more information, please contact:
Gitanjali Jain Ogawa, Vice President
Robin Smith, CEO
SOURCE NeoStem, Inc.