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NeoStem Provides Updates, Reports Results for Third Quarter and Upcoming November Company Presentations
Date:11/11/2011

r 30, 2010, respectively. Please refer to our recently filed 10Q for a complete discussion about results of operations.

The Company invested $5.5 million in capital expenditures during the first nine months of 2011, primarily related to the construction of a new pharmaceutical manufacturing facility for its majority-owned subsidiary, Suzhou Erye Pharmaceutical Co., Ltd. ("Erye").

As of September 30, 2011, the Company had cash, cash equivalents and restricted cash of $18.1 million (note: $5 million of the $18 million is classified in Other Assets).

NeoStem believes that the opportunities that exist today in cell therapy are robust and growing within a persistently difficult financial environment, making this an opportunistic time to monetize the Company's 51% ownership of Erye and bolster its cell therapy business.  In June 2011, the Company engaged a financial advisor to lead the effort to pursue the possible divesture of the Company's interest in Erye.  Marketing efforts are underway and have generated interest from both financial and strategic buyers.

NeoStem continues to grow, devoting resources to its cell therapy business, including manufacturing, therapeutic development, and related activities.  On October 17, 2011 the company consummated the acquisition of Amorcyte, Inc., taking ownership of a strong patent portfolio covering the use of hematopoietic stem cells for treatment of cardiac ischemia.  Amorcyte's lead product candidate, AMR-001, is entering a Phase 2 study for the treatment of acute myocardial infarction. Amorcyte is currently recruiting trial sites in connection with the launch of this Phase 2 clinical trial, which is expected to begin patient enrollment by the end of the first quarter of 2012.

NeoStem continues to advance the development of Athelos Corporation's (a NeoStem company, partnered with Becton, Dickinson and Company) immunology platform. The Company's novel T-cell technology repr
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SOURCE NeoStem, Inc.
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