NEW YORK, April 27 /PRNewswire-Asia-FirstCall/ -- NeoStem, Inc. (NYSE Amex: NBS) ("NeoStem" or the "Company"), an international biopharmaceutical company with operations in the U.S. and China, today announced the official launch of the Company's Adult Stem Cell Collection Center and Research & Development ("R&D") laboratory at the Company's 8,000 square foot facility at the Riverside Technology Center in Cambridge, Massachusetts.
The NeoStem Cambridge Center launch will be marked by an on-site ribbon- 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 launch event will be hosted in association with The Massachusetts Life Sciences Center and the Massachusetts Biotechnology Council (MassBio), of which NeoStem is a member. Featured speakers scheduled to participate in the special event include:
-- 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
The program's distinguished speakers will discuss not only the exciting adult 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 Cell Collection Center and R&D facility in Cambridge, Massachusetts, the heart of one of the top bioscience communities in the country," commented Dr. Robin Smith, Chairman and CEO of NeoStem, Inc. "The R&D center underscores our commitment to research and development and our continued goal of excellence in adult stem cell technologies. In connection with the Company's recent expansion into China, we are pursuing the build-out of additional laboratory capabilities in Beijing, China to enhance our response to the growing needs from our Chinese collaborators."
The addition of NeoStem's Adult Stem Cell Collection Center at the Company's Cambridge location will enable individuals to donate and store their own (autologous) stem cells for personal use in times of potential medical need in the future. In this growing field, adult stem cell therapies are being developed for cosmetic procedures and for the treatment of heart disease, orthopedic issues, breast cancer and multiple sclerosis, among other potential therapeutic uses.
Strategically located in close proximity to Harvard University and the Massachusetts Institute of Technology, NeoStem Cambridge's R&D laboratory features a blood collection/apheresis center, on-site cryogenic storage of research samples, cell culture laboratory, and a new 16-channel Beckman flow cytometer with cell counting and sorting capabilities. The Company has recently hired three full-time researchers to support its stem cell research and clinical development for a current total of seven full-time employees at this facility.
NeoStem plans to expand its basic research and development activities and employ additional researchers with the goal of attaining a deeper understanding of stem cell biology and providing active support to its academic and clinical partners. The Cambridge R&D laboratory will also support the planned development of a commercial product that the Company expects will facilitate the separation of very small embryonic like stem cells from blood, enabling NeoStem to create high-throughput, cell-based assays for use in pharmaceutical and nutraceutical research.
About NeoStem, Inc.
NeoStem, Inc. is engaged in the development of stem cell-based therapies and 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, including a worldwide exclusive license to VSELTM technology which uses very small embryonic-like stem cells, shown to have several physical characteristics that are generally found in embryonic stem cells, 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 more information, please visit: http://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. Forward looking statements include statements herein with respect to the new R&D facility in Cambridge, the expansion of the collection network and the development of stem cell therapies, about which no assurances can be given. 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 filed with the Securities and Exchange Commission on March 31, 2010, as well as other periodic filings made 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: NeoStem, Inc. Robin Smith, CEO Phone: +1-212-584-4174 Email: [email protected] Web: http://www.neostem.com CCG Investor Relations, Inc. Lei Huang, Account Manager Phone: +1-646-833-3417 Email: [email protected] Web: http://www.ccgirasia.com Crocker Coulson, President Phone: +1-646-213-1915 Email: [email protected]
SOURCE NeoStem, Inc.