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NeoStem Completes $500,000 Private Placement With Strategic Investor
Date:12/3/2008

NEW YORK, Dec. 3 /PRNewswire-FirstCall/ -- NeoStem, Inc. (NYSE Alternext US: NBS), which is pioneering the pre-disease collection, processing and long-term storage of adult stem cells for future medical need, today announced that it has completed an above market financing for $500,000 with a strategic investor of units priced at $1.25 per unit with each unit consisting of one share of common stock and a warrant to purchase one share of common stock at $1.75 per share.

The strategic investor consists of principals of Erye Pharmaceutical Co. Ltd ("Erye"), a more than 50-year old pharmaceutical company located in Suzhou, China. Erye currently manufactures over 100 drugs on seven Good Manufacturing Practices (GMP) lines, including small molecule drugs. Erye has begun its three year expansion and relocation program which is anticipated to enhance revenues, profits, and manufacturing capabilities in one of the fastest growing medical markets, the Peoples Republic of China. "We believe NeoStem and its management can guide us in identifying therapeutics and assist us in bringing them to the PRC market in an effort to enhance our drug pipeline," said Madame Zhang Jian, General Manager of Erye.

"We are extremely pleased by the vote of confidence this above market equity purchase demonstrates by our future partner in drug development in China," said Robin Smith, MD, MBA, Chairman and Chief Executive Officer of NeoStem.

"In November 2008, NeoStem agreed to acquire CHBP (OTC Bulletin Board: CHBP), which will give NeoStem a 51% controlling interest in Erye and should help to ultimately provide a stable balance sheet for growth. NeoStem will not only have an interest in traditional therapies in China through the Erye acquisition, but will be able to expand its therapeutic reach through a second acquisition in China, Shandong New Medicine Research Institute, which currently administers a multitude of treatments
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SOURCE NeoStem, Inc.
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Related biology technology :

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2. NeoStem Secures $250,000 in an Above Market Financing and Expands Its Relationship With New England Cryogenic Center, Inc.
3. Suzanne Somers, Renowned Author, Medical Advocate, and Official Spokesperson for NeoStem, Inc., Inspires the Audience on The Ellen Degeneres Show
4. NeoStem Forges Ahead in Its Plan to Open Adult Stem Cell Collection Centers in Key Locations that Can Serve as Hubs to Service Clients Nationwide
5. NeoStem Expands Adult Stem Cell Collection Network, Gains Footprint in Key Los Angeles Market and Initiates Waitlist
6. Suzanne Somers To Promote Growing Importance of Storing Your Own Adult Stem Cells Under Alliance With NeoStem, Inc.
7. NeoStem Announces Private Placement Financing to Advance Marketing Campaign; Financing Includes Investment from New England Cryogenic Center
8. NeoStem to Expand Stem Cell Collection Center Network to Florida
9. NeoStem Featured in WCBS-TV Health Watch Segment on Adult Stem Cells
10. NeoStems Denis Rodgerson, Ph.D. to Lecture on Stem Cells and Regenerative Medicine at University of Nevada Las Vegas Campus
11. NeoStem to Present at Third Annual Stem Cell Summit in New York City
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