Navigation Links
Local Chinese Government Authorities Approve Pricing and Reimbursement for NeoStem's Licensed Adult Stem Cell Treatments for Orthopedic Applications in China
Date:11/2/2010

NEW YORK, Nov. 2, 2010 /PRNewswire/ -- NeoStem, Inc. (NYSE Amex: NBS) ("NeoStem" or the "Company"), an international biopharmaceutical company with operations in the U.S. and China, today announced that Weihai Municipal Price Bureau, the local authority in charge of pricing for public medical services in China, approved the pricing for single side and bilateral arthroscopic orthopedic autologous adult stem cell based treatment being administered at Wendeng Orthopedic Hospital ("Wendeng Hospital"), one of the leading specialist orthopedic hospitals in China based in Wendeng, Shandong Province, China.  Additionally, Weihai Municipal Labor Bureau Medical Insurance Office approved Wendeng Hospital's application for reimbursement effective November 1st, whereby patients are eligible to receive reimbursement for up to 80% of the cost of the orthopedic procedure under the new technology category.

NeoStem holds an exclusive royalty-bearing, perpetual and irrevocable license to use the Regenerative Sciences, Inc. stem cell-based orthopedic technology in Asia, and is in the early stages of implementing operations designed to offer these orthopedic treatments in China through an initial network of hospitals, of which Wendeng Hospital is the first.

"Reimbursement for such procedures will allow individuals who cannot otherwise afford treatment to receive treatment while also benefitting from these innovative, less invasive therapies," said Dr. Robin Smith, Chairman and Chief Executive Officer of NeoStem.  

Wendeng Hospital's Dr. Huang Xiangjie, who is Vice President, Clinical Affairs,  said, "Our collaboration with affiliates of NeoStem has enabled us to offer to our patients the benefit of the latest technology from the U.S. in the treatment of a range of orthopedic conditions, and this latest development will enable us to expand significantly the universe of such patients to whom we can provide this service."

"We look forward to this as the beginning of a pipeline of stem cell-based regenerative medicine therapies that is a key element of NeoStem's growth strategy in both the United States and China. We are working towards similar arrangements for the treatment of additional medical conditions with other specialist hospitals in China," said Ian Zhang, Ph.D., MBA who joined the company in September as the new President and Managing Director of NeoStem (China), Inc.

About NeoStem, Inc.NeoStem, Inc. is engaged in the development of stem cell-based therapies, pursuit of anti-aging initiatives and building of a network of adult stem cell collection centers in the U.S. and China that are focused on enabling people to donate and store their own (autologous) stem cells for their personal use in times of future medical need. The Company is also the licensee of various stem cell technologies, including a worldwide exclusive license to VSEL™ Technology which uses very small embryonic-like stem cells, shown to have several physical characteristics that are generally found in embryonic stem cells, and is pursuing the licensing of other technologies for therapeutic use. NeoStem's majority-controlled Chinese pharmaceutical operation, Suzhou Erye, manufactures and distributes generic antibiotics in China. For more information, please visit: http://www.neostem.com .

Forward-Looking StatementsThis 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. Forward-looking statements include the future of VSEL™ Technology and adult stem cells as a viable treatment option, about which no assurances can be given. 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 Annual Report on Form 10-K filed with the Securities and Exchange Commission as well as other periodic filings made with the Securities and Exchange Commission. The Company's further development is highly dependent on future medical and research developments and market acceptance, which is outside its control.For more information, please contactNeoStem, Inc.Phone: +1 (212) 584-4174E-mail: rsmith@neostem.comhttp://www.neostem.com
'/>"/>

SOURCE NeoStem, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Retirement Event Turned Fundraiser Brings in More Than $35,000 for Local Housing Ministries
2. South Carolina Optometrists Partner with State Legislators and Local Mayors in Improving Infant Eye and Vision Care
3. Genomic Health Announces Results From the Largest Genomic Analysis of Localized Clear Cell Renal Carcinoma at American Society of Clinical Oncology (ASCO) Annual Meeting
4. Bayers A1CNow(R) SELFCHECK At-Home A1C System Now Available In Local Pharmacies
5. SCAN Health Plan Arizona Exceeds Expectations as Local Seniors Select Medicare Advantage Coverage
6. Prolifiq and viaLanguage Announce Partnership: Accelerate the Use of Localized Content by Sales Teams
7. Local Organizations Partner to Improve Healthcare in Haiti
8. Cancer Patients in Marana Now Have Local Access to Advanced Cancer Care
9. Launch of Ipsens Decapeptyl(R) 6-Month Formulation (LP 22.5 mg) in France for the Treatment of Locally Advanced or Metastatic Hormone-Dependent Prostate Cancer
10. Local Head-Injury Patients Sought for Study Investigating Potential Treatment for Daytime Sleepiness
11. Induction Chemotherapy Followed by ChemoRadiotherapy Increased Time-to-Treatment Failure Compared to ChemoRadiotherapy Alone in Patients With Unresectable Locally Advanced Head & Neck Cancer
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/28/2017)... 2017 Hill-Rom Holdings, Inc. (NYSE: HRC), will ... and webcast on Friday, November 3, 2017, beginning at ... at approximately 8:30 a.m. (CDT) / 9:30 a.m. (EDT). ... financial performance and guidance for 2018, Hill-Rom executives will ... operational performance, and long-range financial outlook through 2020. ...
(Date:9/25/2017)... Sept. 25, 2017   Montrium , an ... solutions, today—from the IQPC Trial Master Files & ... NL)—announced that EastHORN Clinical Services has selected ... and TMF management. EastHORN, a leading European contract ... to increase transparency to enable greater collaboration with ...
(Date:9/22/2017)... 22, 2017 AVACEN Medical (AVACEN) announced that ... successfully helping those with the widespread pain associated with ... Amanda in Essex, England commented, ... hair, experiencing no sleep at all, tremendous pain, with ... cannot recommend [the AVACEN 100] enough, how this has ...
Breaking Medicine Technology:
(Date:10/13/2017)... , ... October 13, 2017 , ... Global Healthcare Management’s ... Alexandria Park in Milford, NJ. This free event, sponsored by Global Healthcare Management’s ... The fun run is geared towards children of all ages; it is a ...
(Date:10/13/2017)... ... , ... “America On The Brink”: the Christian history of the United States ... creation of published author, William Nowers. Captain Nowers and his wife, Millie, have ... thirty years in the Navy. Following his career as a naval aviator and ...
(Date:10/12/2017)... ... ... IsoComforter, Inc. ( https://isocomforter.com ), one of the Nation’s premier ... of the shoulder pad. The shoulder pad provides optimal support and full contact ... using cold therapy. By utilizing ice and water that is circulated from an insulated ...
(Date:10/12/2017)... ... October 12, 2017 , ... HMP , a leader in ... 2017 Folio Magazine Eddie Digital Award for ‘Best B-to-B Healthcare Website.’ Winners were announced ... 2017. , The annual award competition recognizes editorial and design excellence across a range ...
(Date:10/12/2017)... ... October 12, 2017 , ... In the United States, single-family ... some states—like New York, New Jersey, Massachusetts, Texas, Virginia, Connecticut, and California—the average ... extremely low property-tax rates, which contributes to the relatively lower cost of living ...
Breaking Medicine News(10 mins):