Collections to Begin at ProHEALTH Facility by End of First Quarter
NEW YORK, Feb. 5 /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, today announced receipt of a provisional license for comprehensive tissue procurement services for the collection of adult stem cells from the New York State Department of Health for the ProHEALTH Care Associates, LLP stem cell collection facility. ProHEALTH Care Associates is a multi-specialty network of over 100 physicians serving over 500,000 patients located in Long Island. ProHEALTH has gained particular renown by becoming the official medical provider of major regional sports franchises and events including the NY JETS, the NY Islanders, and the US Open Tennis Championships.
Robin Smith, MD MBA, NeoStem's Chairman and Chief Executive Officer stated: "The licensing of this facility is a milestone in our development. We have spent the past year signing agreements with collection centers and development groups to position us for revenue growth in 2008. We will now begin to benefit from our achievements. ProHEALTH is one of the largest and most prominent multi-specialty practices in the NY metropolitan region.
Dr. David Cooper, Chief Executive Officer of ProHEALTH, said: "This alliance is a testament to our commitment to provide our patients with the leading edge of medical technology. We believe NeoStem's proprietary methodology for collecting and storing autologous adult stem cells will give patients in our community the ability to take advantage of stem cell therapies offered today, as well as new therapies in development."
Dr. Smith added: "We ant
|SOURCE NeoStem, Inc.|
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