Navigation Links
NeoStem, Inc. is Certified by the State of New York as a Qualified Emerging Technology Company and Notifies Investors of Possible Tax Credit of up to 20%

NEW YORK, Aug. 24 /PRNewswire-FirstCall/ -- NeoStem, Inc. (Amex: NBS), which is pioneering the pre-disease collection, processing and long-term storage of adult stem cells for future medical need, announced today that it has qualified as an Emerging Technology Company with the New York Department of Taxation and Finance, for the period ending December 31, 2009.

The Company has notified certain shareholders that, as a result of this designation, they may be eligible for up to a 20% tax credit from the State of New York relating to their direct investment in NeoStem.

In the letter, Robin Smith, M.D., MBA, NeoStem's Chief Executive Officer, also stated, referring to the Company's proposed acquisition of China Biopharmaceuticals Holdings, Inc., "I am pleased to report the acquisition process is progressing and we are on track for closing before year end."

As announced on November 3, 2008, NeoStem has signed an agreement to acquire China Biopharmaceuticals Holdings, Inc. (OTC Bulletin Board: CHBP), together with a 51% controlling interest in Suzhou Erye Pharmaceutical Co. Ltd. ("Erye"), a sino-foreign joint venture and CHBP's operating subsidiary located in Suzhou China. In 2008, Eyre generated revenues of approximately $50 million and netted over $7 million. Erye has been in business for more than 50 years and manufactures over 100 drugs on seven GMP lines, including small molecule drugs. The closing of the acquisition is subject to the prior approval of the shareholders of each of NeoStem and CHBP as well as other customary closing conditions.

About NeoStem, Inc.

NeoStem is developing a network of adult stem cell collection centers that are focused on enabling people to donate and store their own (autologous) stem cells when they are young and healthy for their personal use in times of future medical need. The Company has also entered into research and development through the acquisition of a worldwide exclusive license to technology to identify and isolate VSELs (very small embryonic-like stem cells), which have been shown to have several physical characteristics that are generally found in embryonic stem cells and is pursuing other technologies to advance its position in the field of stem cell tissue regeneration. In 2009, the Company began to expand its operations into China in connection with the development of therapeutic adult stem cell technologies and is seeking to generate revenues through its regenerative medicine programs and technologies in China. For more information, please visit:

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding the Company's proposed acquisition of CHBP. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. 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 for the fiscal year ended December 31, 2008 and the Company's other periodic filings with the Securities and Exchange Commission. The Company's further development is highly dependent on future medical and research developments and market acceptance, which is outside its control.

The statements contained in this communication were not intended as tax advice, and were not intended or written to be used, and cannot be used, by any taxpayer for the purpose of avoiding penalties that may be imposed on the taxpayer under the Internal Revenue Code. Each taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor.

              NeoStem, Inc.
              Robin Smith, Chief Executive Officer
              T: 212-584-4180

SOURCE NeoStem, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. NeoStem, Inc. Appoints Leading Chinese Medical Official to Its Advisory Board
2. NeoStem, Inc. Appoints Financial Expert with Broad International Experience to the Board of Directors and to Serve as Chairman of the Companys Audit Committee
3. NeoStem, Inc. Announces Agreement With Progenitor Cell Therapy, LLC
4. NeoStem, Inc. to Enter the Regenerative Medicine Market in Asia
5. Suzanne Somers, Renowned Author, Medical Advocate, and Official Spokesperson for NeoStem, Inc., Inspires the Audience on The Ellen Degeneres Show
6. Suzanne Somers To Promote Growing Importance of Storing Your Own Adult Stem Cells Under Alliance With NeoStem, Inc.
7. RadMD First to Offer CME-Certified Education and Training For Medical Imaging in Clinical Trials
8. NaTrue-Label: The First 100 Products are Certified
9. AMDL First to Implement US & China-Based, GAAP-Certified Accounting Technology to Capitalize on Lucrative China Healthcare Market
10. ASM International N.V. and SAFC Hitech(TM) Sign Certified Manufacturer and Partnership Agreement
11. MySignatureBook Certified Compliant With SAFE-BioPharma Digital Standard(TM)
Post Your Comments:
(Date:11/25/2015)... Md. , Nov. 25, 2015  PharmAthene, Inc. ... Directors has adopted a stockholder rights plan (Rights Plan) ... net operating loss carryforwards (NOLs) under Section 382 of ... --> PharmAthene,s use of its NOLs ... "ownership change" as defined in Section 382 of the ...
(Date:11/25/2015)... Nov. 25, 2015  Neurocrine Biosciences, Inc. (Nasdaq: ... President and CEO of Neurocrine Biosciences, will be presenting ... New York . ... website approximately 5 minutes prior to the presentation to ... the presentation will be available on the website approximately ...
(Date:11/25/2015)... The Global Genomics Industry ... and in-depth study on the current state of ... ) , The report provides ... classifications, applications and industry chain structure. The Genomics ... including development trends, competitive landscape analysis, and key ...
(Date:11/24/2015)... Cepheid (NASDAQ: CPHD ) today announced ... conference, and invited investors to participate via webcast. ... December 1, 2015 at 11.00 a.m. Eastern Time ... December 1, 2015 at 11.00 a.m. Eastern Time ... York, NY      Tuesday, December 1, 2015 at ...
Breaking Biology Technology:
(Date:11/30/2015)... , Nov. 30, 2015  BIOCLAIM announced ... finalist in this year,s Fierce Innovation Awards:  Healthcare Edition, ... FierceHealthIT , FierceHealthcare , ... as a finalist in the category of "Privacy ... --> --> ...
(Date:11/26/2015)... 2015 Research and Markets ( ) ... Sensors - Technology and Patent Infringement Risk Analysis" ... --> Fingerprint sensors using capacitive technology ... fingerprint sensor vendor Idex forecasts an increase of 360% ... devices and of the fingerprint sensor market between 2014 ...
(Date:11/20/2015)... Connecticut , November 20, 2015 ... authentication company focused on the growing mobile commerce market ... CEO, Gino Pereira , was recently interviewed on ... interview will air on this weekend on Bloomberg ... Latin America . --> NXTD ) ("NXT-ID" ...
Breaking Biology News(10 mins):