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NeoStem Announces Closing of Public Offering for $16,500,000 in Gross Proceeds
Date:7/22/2011

NEW YORK, July 22, 2011 /PRNewswire/ -- NeoStem, Inc. (NYSE Amex: NBS) ("NeoStem" or the "Company"), an international biopharmaceutical company, today announced the closing of an underwritten public offering of 13,750,000 units at $1.20 per unit.

Each unit consists of one share of common stock and a warrant to purchase 0.75 of a share of common stock with a per share exercise price of $1.45. Lazard Capital Markets LLC and JMP Securities LLC acted as joint bookrunners.  Morgan Joseph TriArtisan LLC, Maxim Group LLC and National Securities Corporation acted as co-managers of the offering.  

Gross proceeds were $16,500,000, prior to deducting underwriting discounts and commissions and offering expenses payable by the Company. These funds will be used for working capital purposes, including research and development of cell therapeutic product candidates, expansion of business units and other general corporate purposes.

Dr. Robin L. Smith, Chairman and CEO of NeoStem stated, "This financing and recent signing of a definitive agreement to acquire Amorcyte with a Phase II-ready asset for acute myocardial infarction mark the beginning of our transition to a developer of cell therapeutics and capitalizes on our purchase of Progenitor Cell Therapy (PCT) earlier this year."

About NeoStem, Inc.NeoStem, Inc. ("NeoStem") is engaged in the development and manufacturing of cell-based therapies. Its January, 2011 acquisition of Progenitor Cell Therapy ("PCT"), and its July 14, 2011 announcement of the signing of a merger agreement to acquire Amorcyte, Inc. ("Amorcyte"), position NeoStem to achieve its mission of capturing the paradigm shift to cell therapy.

PCT gives NeoStem not only access to a world class contract manufacturing cell therapy company but provides NeoStem a platform and expertise around the evaluation, development and regulatory requi
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SOURCE NeoStem, Inc.
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