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NeoStem Obtains Exclusive Worldwide License for Innovative Stem Cell Technology and Applications to Heal Chronic Wounds
Date:5/4/2009

NEW YORK, May 4 /PRNewswire-FirstCall/ -- NeoStem, Inc. (NYSE Amex: NBS), which is pioneering the pre-disease collection, processing and long-term storage of adult stem cells for future medical need, announced today it has signed an agreement to license the exclusive worldwide rights to an innovative product and procedure using autologous bone marrow-derived stem cells to promote the healing of chronic wounds.

The licensed technology, with pending patent applications, has been developed by Vincent Falanga, M.D., Chairman of the Department of Dermatology and Skin Surgery at Roger Williams Medical Center, Providence, R.I. Dr. Falanga is also Professor of Dermatology and Biochemistry at Boston University School of Medicine, a Fellow of the American College of Physicians, and a past President of the Wound Healing Society, the leading scientific organization focused on this specialty.

Dr. Falanga's stem cell product under development, Primcel, is a mesenchymal stem cell (MSC) product. Early clinical studies indicate that Primcel can be used to accelerate or jump start healing of chronic wounds. Dr. Falanga's work seeks to develop a prepackaged product, ready for physician use in a clinical setting, consisting of three applications over a 12-week period.

Dr. Robin Smith, CEO of NeoStem, said, "We are very pleased to sign this agreement with Dr. Falanga. Acquisition of the exclusive worldwide rights to this innovative wound healing technology will help advance NeoStem as a leader in the field of stem-cell tissue regeneration."

Dr. Smith added, "In October 2008, we announced that the U.S. Department of Defense appropriated $800,000 in funds for NeoStem to evaluate the potential use of adult stem cell therapy for treating wounds suffered by members of the U.S. military and first re
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SOURCE NeoStem, Inc.
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