-- Celebrates key milestone, the recent collaboration with Vatican's Pontifical Council
NEW YORK, May 26 /PRNewswire-Asia/ -- NeoStem, Inc. (NYSE Amex: NBS) ("NeoStem" or the "Company"), an international biopharmaceutical company with operations in the U.S. and China, today announced that the Company's Chief Executive Officer, Robin Smith, M.D., will ring the opening bell at the New York Stock Exchange ("NYSE") in New York City at 9:30 a.m. ET on Thursday, May 27, 2010.
"We are honored to be back at the NYSE to ring the opening bell in celebration of a key milestone in the Company's history, our recent collaboration with the Vatican's Pontifical Council for Culture to advance the understanding of adult stem cells and the broad ethical, moral and therapeutic implications," said Dr. Smith. "I want to thank all of our dedicated employees, partners and shareholders for contributing to the Company's accomplishments and supporting our strategic vision over the past year.
NeoStem had previously rung the opening bell at the American Stock Exchange (now part of the NYSE) in August 2007. "In the past two and half years, we have transformed from a leading adult stem cell collection and storage provider in the U.S. to an international company with multiple commercial revenues streams from adult stem cell banking, stem cell therapeutics and pharmaceuticals. During this same time, our market capitalization has grown nearly seven-fold from $22 million in August 2007 to $153 million today," Added Dr. Smith. "I look forward to sharing our exciting future as we advance our leadership in developing adult stem cell therapies to help revolutionize the field of medicine."
A live webcast of The Opening Bell (beginning at 9:29 am ET) will be available on the NYSE homepage of http://www.nyse.com . NeoStem will also be highlighted on the NYSE website on May 27, 2010.
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(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 ability to advance development of the Company's adult stem cell therapy, 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 and the Company's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 17, 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: 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
