NEW YORK, Feb. 9 /PRNewswire-Asia/ -- NeoStem, Inc. (NYSE Amex: NBS) ("NeoStem" or the "Company"), an international biopharmaceutical company with operations in the U.S. and China, announced today that its stem cell collection network has expanded into the southwestern region of the U.S. with the addition of the physician group at Westlake Orthopaedics Spine & Sports ("Westlake") in Austin, TX. The Company is on track to achieve its target of 10 collection centers in its national network by the end of 2010.
Westlake is recognized as one of the most experienced orthopedic specialist practices in Austin with over 300 patients being treated per week and provides a broad range of services in general orthopedics, joint replacement, spine surgery, regenerative medicine and sports medicine. "We are excited to add a premier spine & sports orthopaedics practice in Central Texas to our expanding stem cell collection network and look forward to working with Drs. Spann, Burns, Moore and Crawford and their team of professionals," said Robin Smith, M.D., Chairman and CEO of NeoStem.
Dr. Spann, the founder of Westlake and one of the initial founders of Westlake Hospital, stated, "Our commitment to patients is to provide the highest quality orthopaedic, spine, and sports medicine care utilizing the most minimally invasive and conservative treatment while incorporating the latest cutting edge and innovative techniques to provide the best outcome. Adding stem cell collection capabilities to our practice allows us to stay ahead of the curve".
Stem cells have shown promise in fighting disease and in regenerating and repairing damaged tissue and cells in the body. Adult stem cells have been in use for the last 40 years for bone marrow transplantations in treating blood cancers and, in the last several years, there have been many promising results in clinical trials utilizing a person's own stem cells in wound healing, bone reconstruction, lupus, multiple sclerosis, osteoarthritis, scleroderma, cancers, diabetes, heart disease, and many more.
It is expected that the center will open late spring, subject to the satisfaction of all regulatory requirements.
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 .
Forward-Looking Statements
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 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: rsmith@neostem.com
Web: http://www.neostem.com
CCG Investor Relations, Inc.
Lei Huang, Account Manager
Phone: +1-646-833-3417
Email: lei.huang@ccgir.com
Web: http://www.ccgirasia.com
Crocker Coulson, President
Phone: +1-646-213-1915
Email: crocker.coulson@ccgir.com
