NEW YORK, March 13, 2013 (GLOBE NEWSWIRE) -- NeoStem, Inc. (NYSE MKT:NBS) ("NeoStem" or the "Company"), a leader in the emerging cellular therapy industry, today announced that Amorcyte, LLC, its wholly owned subsidiary, received a Notice of Allowance of claims from the U.S. Patent and Trademark office for patent application 13/285,606 covering a method of treating a progressive myocardial injury caused by an ischemic condition and utilizing a multi-dosing regimen. Once granted, this will represent Amorcyte's fourth U.S. patent and sixth patent overall.
"These newly allowed claims further strengthen our broad IP in ischemia-induced cardiovascular disease," said Andrew L. Pecora, M.D., FACP, CPE, Chief Medical Officer of NeoStem. "One very important condition that these claims cover is use of AMR-001 for treating ischemia-induced congestive heart failure, a major unmet medical need afflicting 5.8 million patients in the United States alone (with an annual incidence of 660,000) and approximately 20 million patients worldwide. Traditionally, the majority of these people are labeled as "ischemic" in etiology, though recent reports from independent research suggest that perhaps all patients have ischemia as a driver of disease, either due to coronary artery disease or microvessel induced ischemia. We expect to file an IND in 2013 to assess the ability of AMR-001 to arrest the progression of CHF and prevent the associated comorbidities of that disease. Moreover, these claims cover cryopreservation of the AMR-001 product, facilitating global distribution if approved by appropriate regulatory agencies."
The cost of cardiovascular disease in the United States continues to rise. As per the Department of Health & Human Services, Agency for Healthcare Research and Quality, the total annual cost of caring for CHF in the United States is over $25 billion. "We believe cell therapy has the potential to improve clinical outcomes and lower overall health care costs. These newly allowed claims significantly bolster our ability to develop AMR-001 for additional indications and through new potential treatment protocols, including a multi-dose regimen," said Robin L. Smith, M.D., MBA, Chairman and CEO of NeoStem.
NeoStem, Inc. ("NeoStem" or the "Company") is a leader in the emerging cellular therapy industry. Our business model includes the development of novel proprietary cell therapy products as well as operating a contract development and manufacturing organization ("CDMO") 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
Forward-Looking Statements for NeoStem, Inc.
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 or its partners' successful development of AMR-001 and other cell therapeutics, the size of the market for such products, its competitive position in such markets, the Company's ability to successfully penetrate such markets and the market for its contract development and manufacturing business, and the efficacy of protection from its patent portfolio, as well as the future of the cell therapeutics industry in general, including the rate at which such industry may grow. The Company's actual results could differ materially from those anticipated in these forward- looking statements as a result of various factors, including but not limited to matters described under the "Risk Factors" 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 other periodic filings with the Securities and Exchange Commission, all of which are available on its website. The Company does not undertake to update its forward-looking statements. The Company's further development is highly dependent on future medical and research developments and market acceptance, which is outside its control.
CONTACT: Trout Group Lauren Kwiecinski, Senior Associate Phone: +1-646-378-2934 Email: firstname.lastname@example.org