NEW YORK, Nov. 24, 2014 (GLOBE NEWSWIRE) -- NeoStem, Inc. (Nasdaq:NBS) announced today that Dr. Robert Preti, the Company's Chief Scientific Officer and President of its subsidiary, Progenitor Cell Therapy ("PCT"), has been elected Vice Chairman of the Alliance for Regenerative Medicine (ARM), an international organization representing the regenerative medicine and advanced therapies community. Dr. Preti will serve in this role effective January 1, 2015.
"I am honored by this appointment and look forward to a meaningful contribution as an Officer to further develop and implement ARM's strategy for regenerative medicine advocacy during the course of my term," said Dr. Preti, who had previously served as Executive Committee member and co-chair of the Science and Technology Committee at ARM. As Vice Chair, Dr. Preti will be responsible for the support and promotion of ARM's national strategy aimed at increasing funding for research and the commercial development of advanced cell-based therapies, as well as to address industry issues around regulatory science and reimbursement that will support regulatory approval and subsequent commercial acceptance of safe and effective regenerative medicine products.
"We extend our congratulations to Dr. Preti for this notable appointment which continues our Company's long association with ARM," said Dr. Robin L. Smith, Chairman and CEO of NeoStem. "NeoStem believes it is of critical importance that companies and research organizations engage with industry to steadily progress the regenerative medicine industry as a whole by informing the public and by engaging with regulatory bodies both in the U.S. and internationally."
The Washington D.C. based Alliance for Regenerative Medicine was founded in 2009 to address a need for cohesive advocacy amongst companies, research institutions, investors and patient groups that comprise the regenerative medicine community. With more than 200 members, the organization aims to advance regenerative medicine by representing, supporting, and engaging all stakeholders in the field through strategic initiatives that accelerate the development of safe and effective regenerative medicine technologies around the world.
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
Progenitor Cell Therapy (PCT), a wholly owned subsidiary of NeoStem, Inc., is a leading contract development and manufacturing organization in the cellular therapy industry. For over 15 years, PCT has provided pre-clinical and clinical cGMP development and manufacturing services to more than 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, engineering and innovation services, process and product development, cell and tissue processing, collection and storage, regulatory consulting, facility design, validation, and due diligence evaluations. www.pctcelltherapy.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, Ischemic Repair Program, Immune Modulation Program and other cell therapies, 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 ("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 of its control.
CONTACT: Investor Contact: LifeSci Advisors, LLC Michael Rice Founding Partner Phone: +1-646-597-6979 Email: email@example.com Media Contact: NeoStem, Inc. Eric Powers Manager of Communications and Marketing Phone: +1-212-584-4173 Email: firstname.lastname@example.org