NEW YORK, July 14, 2014 (GLOBE NEWSWIRE) -- NeoStem, Inc. (Nasdaq:NBS), a leader in the emerging cellular therapy industry, announced today that Frost & Sullivan has awarded the Company its 2014 North American Cell Therapeutics Technology Innovation Leadership Award. The award is part of Frost & Sullivan's Best Practice Award series, recognizing companies that have demonstrated excellence in devising strong growth strategies and robustly implementing these approaches.
NeoStem was recognized for its outstanding achievement and superior performance in Cell Therapeutics Technology, after being evaluated in categories including Commitment to Innovation, Commitment to Creativity, Pioneering Best Practices, and Aspirational Ideals, as well as other criteria. To select the award winner, Frost & Sullivan industry analysts compared market participants and measured performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry.
"We want to thank Frost & Sullivan for recognizing NeoStem's ongoing technology innovation in contract manufacturing services as well as proprietary product development," said Dr. Robin L. Smith, NeoStem's Chairman and CEO. "NeoStem is committed to leveraging its industry leading development and manufacturing capabilities across its multi-pronged product pipeline, which now includes our recent expansion into cancer immunotherapy development through our acquisition of a Phase 3 ready product candidate for metastatic melanoma."
According to Cecilia Van Cauwenberghe, Industry Analyst at Frost & Sullivan, "NeoStem is not only an indisputable leader in the emerging field of cellular therapeutics, holding a number of proprietary technologies at different stages of development, but also NeoStem is playing a significant role in shaping the future of the regenerative medicine industry through the work of its contract manufacturing subsidiary Progenitor Cell Therapy ("PCT"), who is working on engineering and innovating the development and manufacturing of cell therapies to make the process more scalable and robust for all cell therapy manufacturers in preparation for their commercial manufacturing needs.
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
About Frost & Sullivan Best Practices Awards
Frost & Sullivan Best Practices Awards identify exemplary achievements within a multitude of industries and functional disciplines. The analysis on best practices that we conduct identifies companies, products, processes, and executives that have achieved world-class performances. This research is an invaluable source to companies for new ideas to improve strategies and processes, which ultimately drive corporate growth. These achievements are recognized with Frost & Sullivan Best Practices Awards Banquets. www.frost.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, the Company's ability to develop and grow its business, the successful development of cellular therapies with respect to the Company's research and development and clinical evaluation efforts in connection with the Company's Targeted Immunotherapy Program, CD34 Cell Program, T Regulatory Cell Program and other cell therapies, the future of the regenerative medicine industry and the role of stem cells and cellular therapy in that industry, the performance and planned expansion of the Company's contract development and manufacturing business and the Company's final and continued inclusion on any Russell indexes. 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 ("SEC") on March 13, 2014, the Company's Current Report on Form 8-K filed with the SEC on May 8, 2014 and in the Company's other 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: Investor Contact: LifeSci Advisors, LLC Michael Rice Founding Partner Phone: +1-646-597-6979 Email: firstname.lastname@example.org Media Contact: NeoStem, Inc. Eric Powers Manager of Communications and Marketing Phone: +1-212-584-4173 Email: email@example.com