NEW YORK, Dec. 9, 2010 /PRNewswire/ -- NeoStem, Inc. (NYSE Amex: NBS) ("NeoStem" or the "Company"), an international biopharmaceutical company with product and service revenues, global research and development capabilities and operations in three distinct business units – U.S. adult stem cells, China adult stem cells, and China pharmaceuticals – announced today that an affiliated entity has entered into an agreement with Shijiazhuang Third Hospital in the People's Republic of China (PRC) to offer NeoStem's licensed treatments for orthopedic applications.
Chinese citizens of Shijiazhuang will be able to receive adult stem cell treatments for arthritis and orthopedic conditions based on technology exclusively licensed by NeoStem for Asia.
Shijiazhuang Third Hospital is located in Shijiazhuang, Hebei Province, approximately 170 miles south of Beijing. Shijiazhuang Third Hospital has 800 beds, 350 of which are dedicated to orthopedics. Shijiazhuang Third Hospital specializes in orthopedics with extensive experience in spinal, joint, and hand and foot surgeries. It also boasts a highly regarded orthopedic trauma emergency room.
Dr. Wang Yun, President of Shijiazhuang Third Hospital, said, "Our agreement with NeoStem's affiliated entity allows us to offer our patients exciting technology from the U.S. to treat a range of orthopedic conditions."
“This is indeed an exciting milestone not only for Shijiazhuang Third Hospital but also for the citizens of the city. The collaboration with NeoStem demonstrates our commitment to introduce the latest advances in medical technology to the citizens of this city, and we look forward to expanding our collaboration with NeoStem for additional therapies for other medical conditions as part of our commitment to improve the quality and standard of healthcare in Shijiazhuang," said Vice Mayor Meizhi Zhang of Shijiazhuang City.
Dr. Robin L. Smith, Chairman and CEO of NeoStem, said, "We are very excited about our new relationship with Shijiazhuang Third Hospital and the potential for a new market of orthopedic patients to be offered our adult stem cell-based treatments. NeoStem is committed to the expansion of this hospital network in the PRC in order that this innovative technology may be made available to an increased patient population and expects patient charges to be comparable to those in the United States."
About NeoStem, Inc.
NeoStem, Inc. is engaged in the development of stem cell-based therapies, pursuit of anti-aging initiatives 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 also has licensed various stem cell technologies, including a worldwide exclusive license to VSEL™ 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 successful execution of the Company's strategy, as well as other advances in the Company's business, 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:
Robin Smith, CEO
SOURCE NeoStem, Inc.