Development Partnership with CelVida Yields First Milestone
NEW YORK, May 13 /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 that a site has been secured for a new stem cell collection center in Coral Gables, Florida, a suburb of Miami.
Robin Smith, MD MBA, NeoStem's Chairman and Chief Executive Officer commented: "Securing the Florida site for a new collection center in our network is the first major step in building a presence in the Southeast region of the country. Florida is a significant healthcare market offering a dynamic population of both the young and the aging. We are focused on expanding NeoStem's national network of collection centers in major metropolitan areas of the US to drive growth and revenues."
The Florida site is the result of a development agreement with CelVida LLC to join NeoStem's growing national network. CelVida develops and operates stem cell collection centers and related activities, including using NeoStem's proprietary, minimally invasive process.
Chester Amedia, Jr. MD, FACP, founder and President of CelVida LLC, is an interventional nephrologist with extensive business and patient care experience in the fields of disease management and extracorporeal therapies. Dr. Amedia holds the academic rank of Clinical Professor of Internal Medicine at Northeastern Ohio Universities College of Medicine, where he is active in the teaching of medical students. He is a diplomat of the American Board of Internal Medicine with subspecialty certification in nephrology, has been a co-investigator or local coordinator for a number of multicenter research projects, and is a Fellow of the American College of Physicians.
"We are pleased and excited to bring NeoStem to the Miami area to give people the opportunity to proactively have their stem cells collected for preservation and future use," said Dr. Amedia. "CelVida believes this collaboration with NeoStem will provide forward thinking, healthy people in the southeastern United States the opportunity to secure bio-insurance for their medical futures."
About NeoStem, Inc.
NeoStem has a growing nationwide network of adult stem cell collection centers, enabling people to donate and store their own (autologous) stem cells when they are young and healthy for their personal use in times of future medical need. The Company has also recently entered into research and development through the acquisition of a worldwide exclusive license to technology to identify and isolate VSELs (very small embryonic-like stem cells), which have been shown to have several physical characteristics that are generally found in embryonic stem cells.
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. 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 periodic
filings with the Securities and Exchange Commission.
Robin Smith, Chief Executive Officer
|SOURCE NeoStem, Inc.|
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