NeoStem to Expand Stem Cell Collection Center Network ...( Development Partnership with ...)

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 rese
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