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NeoStem and Progenitor Cell Therapy Announce Entry Into Merger Agreement
Date:9/23/2010

itic cells) and arranged the logistics and transportation for over 14,000 cell therapy products for clinical use by over 5,000 patients.

Dr. Robin Smith, CEO of NeoStem said, "We are excited to have reached this agreement with PCT and believe this combination is beneficial to the stakeholders of both companies.  The acquisition is a significant step in NeoStem's efforts to develop a 'one-stop-shop' global network of cell therapy core competencies by adding cell therapy manufacturing and storage facilities as well as integrated regulatory compliant distribution capacity for the evolving cell therapy industry.  PCT's global reach and reputation will accelerate the combined companies' reach into this exciting market."

Dr. Andrew Pecora, PCT's CEO, who will be invited to join the NeoStem Board of Directors upon the closing of the merger,  said, "We are pleased after over a decade of hard work by our PCT team to bring liquidity to our loyal investors by combining with NeoStem into a platform for growth of a wide range of adult stem cell capabilities.  Having played an instrumental role in manufacturing Provenge, Dendreon Corporation's autologous cellular immunotherapy through its clinical trials to FDA approval, we are especially excited about bringing to NeoStem our competencies in the cell therapy development market to contribute to moving forward NeoStem's VSEL™ Technology and other future cell therapy products. Furthermore, with NeoStem's autologous adult stem cell collection capabilities and PCT's umbilical cord blood collection and long term storage services, the combined company will be the first of its kind providing families with current Good Manufacturing Practices (cGMP) autologous stem cell collection and storage services."

LifeTech Capital, an investment banking firm focused on the life science industry, advised NeoStem by providing valuation analyses of the transaction.  LifeTech Capital is a division of A
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SOURCE NeoStem, Inc.
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