NEW YORK, Feb. 28, 2011 /PRNewswire/ -- NeoStem, Inc. (NYSE Amex: NBS), an international biopharmaceutical company with operations in the U.S. and China, announced today that Dr. Manny Alvarez, an esteemed Obstetrician and Gynecologist and recognized television and online healthcare professional, will become the spokesperson and public representative of NeoStem's adult stem cell banking and cord blood banking programs. These services have been bundled together as a multi-generational stem cell collection and storage service that the Company will call the "Family Plan".
Dr. Manny Alvarez, known to audiences as "Dr. Manny", runs a popular health website at www.askdrmanny.com. He is Adjunct Professor of Obstetrics and Gynecology at New York University School of Medicine in New York City. He has been Chairman of the Department of Obstetrics and Gynecology at Hackensack University Medical Center in Hackensack, New Jersey since 1996. He was previously a health science reporter for TELEMUNDO. Dr. Alvarez is a published author, with books including The Checklist: What You and Your Family Need to Know to Prevent Disease and Live a Long and Healthy Life and The Hot Latin Diet: The Fast-Track Plan to a Bombshell Body.
The Company has entered into a three-year agreement with Dr. Alvarez's Genesis Cell Therapy LLC with an option to extend, whereby Dr. Alvarez will exclusively publicly promote NeoStem's consumer services through endorsements, print and online marketing, and more. This provides NeoStem's stem cell banking products with the validation of a highly respected health news personality.
"I have chosen to support NeoStem because its processing and storage subsidiary, Progenitor Cell Therapy, manufactures and processes cells using the highest quality industry standards audited by the FDA (known as current good manufacturing practices or cGMP). They have bi-coastal facilities and have the most extensive transplantation experience among the over 35 private cord blood banks in the United States," said Dr. Alvarez. "The Company has extensive experience and expertise in having processed over 30,000 cell therapy product procedures and shipped over 5,000 cell therapy products for transplantation. Stem cells derived from cord blood have been used in more than 14,000 transplants worldwide to treat a wide range of blood diseases, genetic and metabolic disorders, immunodeficiency disorders and various forms of cancer and cord blood banks now exist in nearly every developed country, as well as several developing nations. In the United States there are approximately 35 private banks and 30 public banks and between 1999 – 2009 the median annual growth rate for stem cell collections has increased 14.6%".
Dr. Robin Smith, MD, MBA, CEO of NeoStem said, "Dr. Alvarez has years of experience communicating health information in a way that the general public can understand. He can now help parents understand the importance of cGMP cell banking and make an informed decision regarding which company to use for the storage of their newborn's stem cells. Dr. Alvarez will help us introduce and launch the 'Family Plan' offering stem cell security to a wide range of family members including newborns, college-age children, and parents."
Dr. Andrew Pecora, Chief Medical Officer, said, "NeoStem has built great expertise in providing high-quality adult stem cell collection through a minimally-invasive process, as well as processing and storage of stem cells which is compliant not only with standards for today's stem cell applications, such as bone marrow transplants for leukemias, lymphomas and other blood disorders, but with standards for future potential applications many of which are now in clinical trials and being manufactured in Progenitor Cell Therapy's New Jersey and California cGMP compliant facilities. The NeoStem cGMP 'Family Plan' offering will be unique in the industry and raise the quality standard, because the entire family will have access to cGMP cell processing and storage of their cells using industry standards (cGMP) that will allow the future use of their cells for today's and tomorrow's therapies. No other stem cell banking company has the cell therapy manufacturing experience of Progenitor Cell Therapy that is currently creating the cell therapies of tomorrow by manufacturing a broad variety of cell therapies for clinical testing to cGMP standards. I look forward to working with Dr. Alvarez to educate a much wider audience about the reality of stem cell banking as an option that exists today to prepare for the future potential of stem cells to treat heart disease, cancer, diabetes, immune diseases, and diseases of the eyes, bones and cartilage, and much more."
NeoStem obtained its cord blood banking business through its January 20, 2011 acquisition of Progenitor Cell Therapy, LLC (PCT), a privately held cell therapy company with operations on the east and west coast of the U.S. serving the cell therapy community with cGMP state-of-the art cell therapy manufacturing facilities, and processing and storage facilities for stem cells. PCT's cord blood banking business, under the name DomaniCell, has been in operation since 2006. NeoStem's adult stem cell business began commercial collections in 2006 as well. cGMP-compliant cell processing and storage for these businesses are provided by PCT at its facilities in Mountain View, California, and Allendale, New Jersey.
About NeoStem, Inc.NeoStem, Inc. is an international biopharmaceutical company with adult stem cell operations in the U.S., a network of adult stem cell therapeutic providers in China as well as a 51% ownership interest in a profitable Chinese generic pharmaceutical manufacturing company. NeoStem is focused on accelerating the development of proprietary cellular therapies and becoming a single source for collection, storage, manufacturing, therapeutic development and transportation of cells for cell based medicine and regenerative science globally. The Company also has licensed various cellular therapy technologies, including worldwide exclusive licenses to a wound healing technology and to VSEL™ Technology which uses very small embryonic-like stem cells, which are adult stem cells that have been shown to have several physical characteristics that are generally found in embryonic stem cells.
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 statements herein with respect to the ability of PCT's business to complement NeoStem's adult stem cell operations and successful execution of the Company's strategy, as well as other advances in the Company's business, 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 on March 31, 2010, its Form S-4/A filed with the Securities and Exchange Commission on December 3, 2010 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. NeoStem may experience difficulties in integrating PCT's business and could fail to realize potential benefits of the merger. Acquisitions may entail numerous risks for NeoStem, including difficulties in assimilating acquired operations, technologies or products, including the loss of key employees from acquired businesses.For more information, please contact:NeoStem, Inc.Robin Smith, CEOPhone: +1-212-584-4174Email: email@example.com Web: http://www.neostem.com
|SOURCE NeoStem, Inc.|
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