NEW YORK, July 12 /PRNewswire-Asia-FirstCall/ -- NeoStem, Inc. (NYSE Amex: NBS) ("NeoStem" or the "Company"), an international biopharmaceutical company with operations in the U.S. and China, today announced that it has been awarded a $700,000 contract from the U.S. Army Medical Research and Materiel Command, Telemedicine and Advanced Technology Research Center (USAMRMC-TATRC) under U.S. Army Medical Research Acquisition Activity contract number: (W81XWH-10-2-0039). This contract is for the purpose of evaluating the use of topically applied bone marrow-derived adult mesenchymal stem cells (MSCs) for rapid wound healing. The Company previously announced that this funding was included in the Department of Defense FY09 Appropriations Bill and will begin receiving funds to initiate the program in 2010.
"NeoStem is thrilled to have the United States Government's support to
advance our technology and is honored to become part of TATRC's regenerative
medicine portfolio. It is our goal with this important project to leverage
adult stem cell technology to help our soldiers avoid amputations and
immobilization from injuries that they may sustain while fighting for our
country. We understand the urgent need to improve regenerative medicine
capabilities and reach ultimate medical solutions. Wound healing could
represent just the beginning of more collaborative projects involving other
clinical indications, such as spinal cord injuries and retinal damage, both of
which affect American warriors who serve our country in the global war on
terrorism," said Robin Smith, M.D., Chairman of the Board and Chief Executive
Officer of NeoStem. "Th
|SOURCE NeoStem, Inc.|
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