NEW YORK, April 3, 2014 (GLOBE NEWSWIRE) -- NeoStem, Inc. (Nasdaq:NBS) ("NeoStem" or the "Company"), a leader in the emerging cellular therapy industry, announced today the appointment of Dr. Adel Nada as Vice President, Immunotherapy. In this position, Dr. Nada will be responsible for developing the Company's T Regulatory Cell Program, which is investigating the use of T Regulatory Cells ("Tregs") to treat diseases caused by imbalances in the immune system. The Company plans to initiate a Phase 2 study of Treg based therapeutics to treat type 1 diabetes in the third quarter of 2014, as well as a Phase 1 study in Canada of Treg based therapeutics in support of a steroid resistant asthma indication in 2014.
"We are very pleased that Dr. Nada has joined us, adding his expertise in immunology and clinical development to the growing NeoStem team," said Dr. Douglas Losordo, Chief Medical Officer of NeoStem. "Dr. Nada's experience strengthens our clinical programs at an important time as we launch new initiatives in diabetes and asthma."
Dr. Nada comes to NeoStem from Baxter Healthcare, where from 2012 to 2014 he was Senior Medical Director, Cardiovascular Cellular Therapies. Prior to joining Baxter, Dr. Nada worked at Abbott Laboratories from 2007-2012 where he was most recently responsible for the Clinical Pharmacology Medical Department. In this capacity, he led the cross functional group that provided instrumental strategic support for early clinical development across the entire company's pipeline. Working across different therapeutic areas, most notably antivirals, oncology, and immunology, he also led the clinical team developing a novel compound for rheumatoid arthritis.
"I am excited to join NeoStem's clinical development team at this key time as the company is planning to initiate two clinical trials for its T Regulatory Cell Program," said Dr. Nada. "I am pleased to bring my broad clinical development expertise to the program to help develop and execute upon the Company's vision for Treg therapies."
Dr. Nada is an expert in innovative clinical trial design, cellular therapies development, translational medicine, and cardiovascular safety. He earned his medical degree from Alexandria University, and is trained in internal medicine, clinical research, and pharmacology. Dr. Nada holds a specialist diploma in pharmaceutical medicine from the University of Basel. He has also completed advanced studies in pharmaceutical development and regulatory sciences at the University of California, San Francisco, and holds a Master's degree in clinical research from Rush University. He was most recently elected member of the Faculty of Pharmaceutical Medicine of the Royal College of Physicians.
"We welcome Adel to our team and know that he will lead our T Regulatory Cell Program with strategic counsel and vision as we advance into clinical studies in support of type 1 diabetes and steroid resistant asthma in 2014," said Dr. Robin Smith, Chairman and CEO of NeoStem. "His proven track record of clinical development success within large corporate settings and complex organizations and projects will greatly benefit NeoStem as we continue to advance our development pipeline."
About NeoStem's T Regulatory Cell Program
NeoStem is currently developing therapies utilizing T Regulatory Cells ("Tregs") to treat diseases caused by imbalances in the immune system. In collaborating with Becton-Dickinson and the University of California, San Francisco, the Company is working on therapies that have the potential to restore immune balance by enhancing Treg cell number and function. Tregs are a natural part of the human immune system and regulate the activity of T effector cells, the cells that are responsible for protecting the body from viruses and other foreign antigen exposure. When Tregs function properly, only foreign materials are attacked by T effector cells. In autoimmune disease it is thought that deficient Treg activity permits the T effector cells to attack the body's own tissues. The Company plans to initiate a Phase 2 study of Treg based therapeutics to treat type 1 diabetes in 2014. The Company also plans to initiate a Phase 1 study in Canada of Treg based therapeutics in support of a steroid resistant asthma indication in 2014.
About NeoStem, Inc.
NeoStem is a leader in the emerging cellular therapy industry, pursuing the preservation and enhancement of human health globally through the development of cell based therapeutics that prevent, treat or cure disease by repairing and replacing damaged or aged tissue, cells and organs and restoring their normal function. The business includes the development of novel proprietary cell therapy products as well as a revenue-generating contract development and manufacturing service business. This combination has created an organization with unique capabilities for cost effective in-house product development and immediate revenue and cash flow generation. 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 business strategy, including with respect to the Company's ability to develop and grow its business, the successful development of cellular therapies, including with respect to the Company's research and development and clinical evaluation efforts in connection with the Company's CD34 Cell Program and T Regulatory Cell Program and other cell therapies, including the future of the regenerative medicine industry and the role of stem cells and cellular therapy in that industry and the performance and planned expansion of the Company's 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 13, 2014 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.
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