The new plant is expected to significantly expand Erye's manufacturing capacity just in time to meet the rising demand in China's growing pharmaceutical market. "We are proud of Erye's many accomplishments to-date and believe the business is ideally positioned to capture the growth we see ahead," said Robin Smith, M.D., CEO of NeoStem.
About NeoStem, Inc.
NeoStem, Inc. is engaged in the development and manufacturing of cell-based therapies in the U.S. Its January 2011 acquisition of Progenitor Cell Therapy, LLC ("PCT") is central to the Company's strategic mission of capturing the paradigm shift to cell therapy. The acquisition of PCT gives NeoStem not only access to a world class contract manufacturing cell therapy company but provides a platform and expertise around the evaluation, development and regulatory requirements to develop autologous, allogeneic, immunomodulatory and vaccine-based therapeutics. NeoStem also holds the worldwide exclusive license to VSEL(TM) 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 owns 80% of Athelos Corporation, a company developing a T-cell therapeutic with potential in a range of auto-immune conditions such as graft versus host disease, asthma and diabetes. Furthermore, NeoStem is building its Chinese presence by establishing an operations lab for cell-based manufacturing in Beijing as well as commercializing cellular therapies in China through the establishment of a network of hospitals. NeoStem also ow
|SOURCE NeoStem, Inc.|
Copyright©2010 PR Newswire.
All rights reserved