NeoStem has bought out Stem Cell Technologies, a subsidiary of Utek, in an all-stock transaction. Stem Cell Technologies has been focused on developing technology that allows developers to isolate rare stem cells called VSELs from bone marrow. The company says that the VSELs offer a versatile alternative to embryonic stem cells, a field that has been plagued by controversy and the Bush administration's funding restrictions.
"NeoStem is enthusiastic about this technology and its potential to help expand our proprietary position in the adult stem cell collection and storage arena as well as the burgeoning field of regenerative medicine," said Dr. Robin Smith, M.D., M.B.A., CEO of New York-based NeoStem.
- check out the release for more info
- read the report on the deal from Tech Journal South