NeoStem, Inc. Awarded NIH Research and Research Infrastructure 'Grand Opportunities' Grant
NEW YORK, Oct 6 /PRNewswire-FirstCall/ -- NeoStem, Inc. (NYSE Amex: NBS), which is pioneering the pre-disease collection, processing and long-term storage of adult stem cells for future medical need and holder of the exclusive, worldwide license to VSEL(TM) Technology that uses very small embryonic-like stem cells isolated from peripheral blood, announced today that it has been awarded a grant of $108,746 for the repair of bone defects by human stem cells under the American Recovery and Reinvestment Act (RRA) of 2009 from the National Institute of Arthritis and Musculoskeletal and Skin Disease (NIAMS) of the National Institutes of Health (NIH).
This award will fund studies to investigate the potential of very small embryonic-like stem cells to regenerate bone in an animal model. These very small embryonic-like stem cells are isolated from adults' own peripheral blood using NeoStem's proprietary isolation methods. The Company intends to undertake this work in collaboration with Dr. Russell Taichman, Professor of Dentistry, Department of Periodontics and Oral Medicine at the University of Michigan School of Dentistry. "We are honored to have been granted this award," commented Dr. Denis Rodgerson, Senior Scientist at NeoStem. "It will enable us, together with Dr. Taichman as co-principal investigator, and his colleagues, Drs. Paul Kresbach and David Kohn, to explore the significant potential for the VSEL(TM) Technology as an autologous adult stem cell-based therapy for osteoporosis and other bone diseases."
Under the Recovery Act, the NIH has established a new program entitled Research and Research Infrastructure "Grand Opportunities," also known as the "GO" grants program. This new program is designed to support large-scale research projects that accelerate critical breakthroughs, early and applied research on cutting-edge technologies, and new approaches to improve the synergy and interactions among multi and interdisciplinary research teams. The program is intended for research activities that have high, short-term impact, and a high likelihood of enabling growth and investment in biomedical research and development in new fields of investigation. "We are gratified to receive this funding from NIH," said Robin Smith, M.D., MBA, NeoStem's Chief Executive Officer. "Our broad range of clinical research activities supports our novel approach to characterizing adult pluripotent stem cells taken from peripheral blood. We believe that our VESL technology will emerge as a competitive differentiator that will put us at the forefront of advances with autologous adult stem cell therapies in the field of regenerative medicine."
About NeoStem, Inc.
NeoStem is developing a network of adult stem cell collection centers that are focused on enabling people to donate and store their own (autologous) stem cells when they are young and healthy for their personal use in times of future medical need. The Company has also entered into research and development through the acquisition of a worldwide exclusive license to technology to identify and isolate VSELs (very small embryonic-like stem cells), which have been shown to have several physical characteristics that are generally found in embryonic stem cells and is pursuing other technologies to advance its position in the field of stem cell tissue regeneration. For more information, please visit: www.neostem.com.
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. 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 Annual Report on Form 10-K for the fiscal year ended December 31, 2008 and the Company's other 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.
The project described was supported by Award Number R43AR056893 from the National Institute Of Arthritis And Musculoskeletal And Skin Diseases. The content is solely the responsibility of the authors and does not necessarily represent the official views of the National Institute Of Arthritis and Musculoskeletal And Skin Diseases or the National Institutes of Health.