NEW YORK, Nov. 4, 2013 (GLOBE NEWSWIRE) -- NeoStem, Inc. (Nasdaq:NBS), a leader in the emerging cellular therapy industry, and its subsidiary, Progenitor Cell Therapy, LLC ("PCT"), an internationally recognized contract development and manufacturing organization, announced today that PCT has entered into a collaboration with ATMI, Inc. (Nasdaq:ATMI), a global technology company and leader in single-use bioprocess solutions.
As industry leaders, PCT and ATMI will collaborate on a non-exclusive basis enabling PCT and PCT's affiliates to offer to their respective clients access to the Integrity® Xpansion™ technology platform from ATMI.
PCT has always been a leader in utilizing the most advanced technology and innovation to pave the path towards commercialization in the regenerative medicine industry. The Xpansion system will provide bioreactor expansion capability to help clients of PCT and PCT's affiliates to achieve their development goals by creating and customizing an appropriate development program to suit the needs of each client.
"PCT is pleased to be working with ATMI to offer our clients and potential clients the Xpansion system technology that we believe to be the next generation of two-dimensional technology for adherent cell culture, including stem cells," said Robert A. Preti, Ph.D., President of PCT and Chief Scientific Officer of NeoStem. "Along with our investments in Engineering and Innovation, the Xpansion system is an exciting tool that has the potential to help a valuable segment of our client base develop cellular therapeutics in a more cost effective and robust way."
The Xpansion system is part of the ATMI LifeSciences Integrity family of single-use technologies and has been especially developed by ATMI for large-scale production of stem cells and is based on stacked plates made from the same plastic material as multiple-tray stack systems.
According to ATMI, the Xpansion platform offers many advantages over traditional 2-D cell culture technologies: it operates as a closed system, has a compact footprint, monitors and controls pH and dissolved oxygen (DO), and allows for noninvasive, real-time observation of stem cell growth at multiple locations on the top five to 10 plates. The Xpansion system has the potential to reduce labor and capital costs and decrease chances of errors and contamination. PCT expects that the Xpansion system will be available for clients in PCT's East and West Coast facilities.
"This collaboration is mutually beneficial to both PCT and ATMI, as we each have specialized knowledge in our respective spheres of expertise that will ultimately benefit our clients and this emerging industry," said Senior Vice President and General Manager of ATMI LifeSciences, Mario Philips. "Our collaboration will allow us to share resources and information, and take advantage of new opportunities for business development to the benefit of our customers."
"NeoStem and its subsidiaries continue to grow and expand the businesses through strategic partnerships, such as with ATMI. We believe these partnerships are critical to remaining at the forefront of innovation through the utilization of new technologies that will enhance efficiencies and cost-effective high quality manufacturing," said Dr. Robin L. Smith, Chairman and CEO of NeoStem.
PCT, a wholly owned subsidiary of NeoStem, Inc., is a leading contract development and manufacturing organization in the cellular therapy industry. Since 1997 PCT has provided pre-clinical and clinical current Good Manufacturing Practice ("cGMP") development and manufacturing services to over 100 clients, advancing regenerative medicine product candidates from the development stage all the way through to human testing. PCT has two cGMP-compliant, state-of-the art facilities in New Jersey and California to serve the cell therapy industry and offers manufacturing of cell therapy-based products, product and innovative process development, cell and tissue processing, regulatory support, storage, distribution and delivery and consulting services. www.pctcelltherapy.com
NeoStem, Inc. ("NeoStem" or the "Company") is a leader in the emerging cellular therapy industry. The Company's business model includes the development of novel proprietary cell therapy products as well as operating PCT, a contract development and manufacturing organization providing services to others in the regenerative medicine industry. The combination of a therapeutic development business and revenue-generating service provider business provides the Company with capabilities for cost effective in-house product development and immediate revenue and cash flow generation. www.neostem.com
About ATMI LifeSciences
ATMI LifeSciences is an acknowledged technology leader in the field of single-use bioprocess systems and consumables for the pharmaceutical and biopharmaceutical industries. Its innovative, market-leading portfolio of custom-engineered, flexible packaging solutions, single-use storage systems, mixers and bioreactors is driving bioprocess efficiency and delivering value for biopharmaceutical companies around the world. www.atmi-lifesciences.com
ATMI, Inc. is a global provider of specialty semiconductor materials, and safe, high-purity materials handling and delivery solutions designed to increase process efficiencies for the microelectronics, life sciences, and other industries. www.atmi.com.
ATMI, Integrity and Xpansion are trademarks or registered trademarks of Advanced Technology Materials, Inc. in the U.S., other countries, or both.
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 business strategy, including with respect to the Company's research and development and clinical evaluation efforts towards commercialization of cellular therapies, including with respect to AMR-001, the future of the regenerative medicine industry and the role of stem cells and cellular therapy in that industry and the Company's ability to successfully grow its contract development and manufacturing business. 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 11, 2013 and in the Company's periodic filings with the SEC. The Company's further development is highly dependent on future medical and research developments and market acceptance, which is outside its control.
CONTACT: Eric Powers NeoStem Manager of Communications and Marketing Phone: +1-212-584-4173 Email: firstname.lastname@example.org