Navigation Links
NeoStem Acquires Amorcyte, a Clinical Stage Cardiovascular Disease Cell Therapy Company

NEW YORK, Oct. 17, 2011 /PRNewswire/ -- NeoStem, Inc. (NYSE Amex: NBS) ("NeoStem" or the "Company"), an international biopharmaceutical company with a focus on cell-based therapeutic development, and Amorcyte Inc., a development stage cell therapy company focusing on novel treatments for cardiovascular disease, announced today the closing of their previously announced merger transaction following approval by the shareholders of both companies on October 14, 2011.  NeoStem, which closed on a financing raising $16.5 million in gross proceeds on July 22, 2011, intends to initiate, no later than the first quarter of 2012, a Phase 2 clinical trial for Amorcyte's lead product candidate, AMR-001, for the treatment of acute myocardial infarction (AMI).

Pursuant to the terms of the Merger Agreement, NeoStem (i) issued 5,843,483 shares as the base stock consideration; (ii) will issue up to 4,092,768 shares of common stock upon the achievement of certain specified business milestones; (iii) issued warrants to purchase 1,881,008 shares of common stock exercisable over a seven year period at a price of $1.466 per share; and (iv) upon the successful commercialization of AMR-001 will pay certain earn out payments on sales.  The shares of common stock issued and underlying the warrants are subject to certain transfer restrictions.

Of the approximately 800,000 Americans who suffer an AMI each year, approximately 20%, or 160,000 patients, remain at risk for progressive deterioration in heart muscle function and, as a consequence, increased risk for future major adverse cardiac events. AMR-001 targets treatment of this unmet medical need.

AMR-001 is an autologous, bone marrow-derived, pharmaceutical grade cell-based product that uses a cell population enriched for CD34+CXCR4+ cells. Studies have shown that these cells act as a natural repair mechanism, releasing from bone marrow and traveling to the damaged region of the heart following an AMI. Treatment with  AMR-001 involves infusion of an active population of these cells directly into a patient's heart via an intra-coronary catheter six to eleven days after an AMI (i.e., after the "hot" or inflammatory phase) and as such complements the body's natural rescue mechanism for those cells that face hypoxic stress (i.e., oxygen deprivation) as a result of an increased workload.

NeoStem believes AMR-001 stands alone in its ability to claim all of the following attributes:

  • a confirmed mechanism of action
  • access to a cGMP (current good manufacturing practices) facility
  • an established dose that exceeds the threshold for biological activity
  • use of autologous cells that have no risk of rejection and are capable of integrating and providing local support, potentially for a prolonged period of time as demonstrated in pre-clinical animal experiments
  • cells that are not expanded, thereby eliminating the potential concerns associated with such expansion, and
  • an issued patent with composition of matter, methods and processes claims with long remaining life.

"We are very much encouraged by the Phase 1 trial results and look forward to moving AMR-001 forward toward commercialization through NeoStem," said Dr. Andrew L. Pecora, Chief Medical Officer of NeoStem and Chief Scientific Officer of Amorcyte. "Through NeoStem's preclinical VSEL™ (very small embryonic-like stem cell) platform, the Phase 1-ready autoimmune disease product candidates of its Athelos subsidiary, and now through AMR-001, NeoStem seeks to fulfill the promise that an individual's own cells hold the potential to both heal and transform the way medicine is delivered."

Dr. Robin L. Smith, Chairman and CEO of NeoStem said, "The closing of our acquisition of Amorcyte represents a leap forward for NeoStem into clinical development and the furtherance of our mission to develop a product portfolio of cell therapy products that leverage the body's natural abilities to heal and fight disease. We believe that AMR-001 bridges the gap between cell therapy's roots in bone marrow transplantation and cell therapies of the future. "

About NeoStem, Inc.

NeoStem is a leader in the development and manufacturing of cell therapies. The Company's strategic combination of revenues with manufacturing through its subsidiary, Progenitor Cell Therapy, LLC and global reach has positioned the company for advances in the cell therapy industry. The acquisition of Amorcyte, Inc. positions NeoStem to achieve its mission of capturing the paradigm shift to cell therapy. NeoStem is also pursuing a T-cell therapeutic with potential in a range of auto-immune conditions and development of its VSEL™ Technology platform. For more information on NeoStem, please visit

About Amorcyte

Amorcyte develops cell therapy products to treat cardiovascular disease. Its lead product, AMR–001, for the prevention of major adverse cardiac events following acute myocardial infarction (AMI), has completed Phase 1 clinical trials demonstrating feasibility, safety and biologic activity at a threshold dose. This is the first stem cell trial in AMI ever conducted that has prospectively established a significant relationship between dose and effect. Amorcyte was founded by Andrew Pecora, M.D., Chief Innovations Officer, Professor and Vice President of Cancer Services at the John Theurer Cancer Center at Hackensack University Cancer Center, with initial investment by Novitas Capital and Colt Ventures. 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. 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 successful development of cell therapeutics, as well as the future of the cell therapeutics industry. 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 filings with the Securities and Exchange Commission (, including its prospectus supplement filed on September 30, 2011. The Company's further development is highly dependent on future medical and research developments and market acceptance, which is outside its control.

For more information, please contact:

NeoStem, Inc.
Robin Smith, CEO
Phone: +1-212-584-4174

SOURCE NeoStem, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Suzanne Somers, Renowned Author, Medical Advocate, and Official Spokesperson for NeoStem, Inc., Inspires the Audience on The Ellen Degeneres Show
2. NeoStem Secures $250,000 in an Above Market Financing and Expands Its Relationship With New England Cryogenic Center, Inc.
3. NeoStem, Inc. to Enter the Regenerative Medicine Market in Asia
4. NeoStem Completes $500,000 Private Placement With Strategic Investor
5. NeoStems New York City Adult Stem Cell Collection Center Has Opened and Begun Collections
6. NeoStem Receives Notice of Noncompliance from NYSE Alternext US
7. NeoStem Obtains Exclusive Worldwide License to Innovative Stem Cell Technology and Applications for Anti-Aging Skin Rejuvenation Therapies
8. NeoStem Expands Stem Cell Collection Center Network Into New Jersey Led by Leading Plastic Surgeon and Anti-Aging Authority
9. NeoStem Completes $11 Million Private Placement Financing to Support Expansion Activities in China, Further Development of NeoStems VSEL Technology and Advancement of Medical Tourism Initiatives
10. NeoStem, Inc. Announces Agreement With Progenitor Cell Therapy, LLC
11. NeoStem Obtains Exclusive Worldwide License for Innovative Stem Cell Technology and Applications to Heal Chronic Wounds
Post Your Comments:
(Date:11/27/2015)... , November 27, 2015 ... Growing popularity of companion diagnostics is ... cancer biomarkers market with pharmaceutical companies and ... companion diagnostic tests. . ... Complete report on global cancer biomarkers ...
(Date:11/25/2015)... , Nov. 25, 2015  PharmAthene, Inc. (NYSE MKT: ... adopted a stockholder rights plan (Rights Plan) in an ... loss carryforwards (NOLs) under Section 382 of the Internal ... --> PharmAthene,s use of its NOLs could be ... as defined in Section 382 of the Code. In ...
(Date:11/25/2015)... SAN DIEGO , Nov. 25, 2015  Neurocrine ... Kevin Gorman , President and CEO of Neurocrine ... Jaffray Healthcare Conference in New York ... encouraged to visit the website approximately 5 minutes prior ... software.  A replay of the presentation will be available ...
(Date:11/25/2015)... 2015 The Global Genomics ... professional and in-depth study on the current state ... ) , The report ... definitions, classifications, applications and industry chain structure. The ... markets including development trends, competitive landscape analysis, and ...
Breaking Biology Technology:
(Date:11/17/2015)... , November 17, 2015 ... au 19 novembre  2015.  --> Paris ... --> DERMALOG, le leader de l,innovation biométrique, ... la fois passeports et empreintes sur la même surface ... les passeports et l,autre pour les empreintes digitales. Désormais, ...
(Date:11/16/2015)... , Nov 16, 2015  Synaptics Inc. ... human interface solutions, today announced expansion of its ... ™ touch controller and display driver integration ... of smartphones. These new TDDI products add to ... (HD resolution), TD4302 (WQHD resolution), and TD4322 (FHD ...
(Date:11/12/2015)... 2015   Growing need for low-cost, easy ... been paving the way for use of biochemical ... analytes in clinical, agricultural, environmental, food and defense ... in medical applications, however, their adoption is increasing ... continuous emphasis on improving product quality and growing ...
Breaking Biology News(10 mins):