NEW YORK, March 4 /PRNewswire-Asia-FirstCall/ -- NeoStem, Inc. (NYSE Amex: NBS) ("NeoStem" or the "Company"), an international biopharmaceutical company with operations in the U.S. and China, announced today that it has entered into a sponsored research agreement (SRA) with the University of Michigan to evaluate bone defect repairs using human stem cells. The one-year project, beginning in March, will be funded through the proceeds of a $108,746 grant from the National Institutes of Health (NIH) under the Small Business Innovative Research Program (SBIR). Under terms of the SRA, NeoStem will have the first option to license discoveries stemming from the project.
Funding from this grant will support the study of the potential of very small embryonic-like stem cells to form bone in an animal model and regenerate a critical sized bone defect using NeoStem's proprietary VSEL(TM) Technology. Very small embryonic-like stem cells are a heterogeneous population of stem cells found in adult bone marrow that have properties similar to those of embryonic stem cells. These cells have the potential to achieve the positive benefits associated with embryonic stem cells without the ethical or moral dilemmas or certain of the potential negative effects associated with embryonic stem cells. The effort at the University of Michigan will be led by principal investigator Dr. Russell Taichman, Professor of Dentistry, Department of Periodontics and Oral Medicine at the University of Michigan School of Dentistry. "My team and I are excited about the partnership with NeoStem," said Dr. Taichman. "The early evidence that very small embryonic- like stem cells can differentiate into mesenchymal cells and then regenerate bone tissue lays the foundation for the study of these cells as autologous therapeutic agents, with the potential to treat conditions such as wound healing, burns and fractures, orthopedic disorders and bone diseases such as osteoporosis."
"We are grateful to the NIH for this grant to fund research using our VSEL(TM) Technology to develop potential therapy for bone diseases," said Robin Smith, M.D., Chairman and CEO of NeoStem. "Our research team is looking forward to leveraging our adult stem cell expertise to advance the understanding and development of autologous adult stem cell therapies for osteoporosis and other regenerative diseases. We are excited to partner with Dr. Russell Taichman and his team in this important pursuit."
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 is also the licensee of various stem cell technologies, including a worldwide exclusive license to VSEL(TM) 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 success of the Company's VSEL(TM) Technology in repairing bone defects, the new stem cell collection center and future expansions, as well as the future of stem cell in medical treatment 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 Registration Statement on Form S-1 filed with the Securities and Exchange Commission on as well as 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: firstname.lastname@example.org Web: http://www.neostem.com CCG Investor Relations, Inc. Lei Huang, Account Manager Phone: +1-646-833-3417 Email: email@example.com Web: http://www.ccgirasia.com Crocker Coulson, President Phone: +1-646-213-1915 Email: firstname.lastname@example.org
SOURCE NeoStem, Inc.