Neostem Signs Agreement With Shanghai Corporation To Develop A Stem Cell Collection And Treatment Ne

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15th June 2009, 11:57pm - Views: 723





Community Health NeoStem, Inc. 1 image




MEDIA RELEASE PR35046


NeoStem Signs Agreement with Shanghai Corporation to Develop A Stem Cell Collection and

Treatment Network in Shanghai, Taiwan and Other Targeted China Provinces


NEW YORK, June 15 /PRNewswire-AsiaNet/ --


    

    NeoStem, Inc. (NYSE Amex: NBS), which is pioneering the pre-disease

collection, processing and long-term storage of adult stem cells for future

medical need, announced today it has signed an exclusive 10-year agreement

with Enhance BioMedical Holdings Limited, a Shanghai corporation, to develop

a Stem Cell Collection and Treatment Network using NeoStem's proprietary

adult stem cell technologies in Shanghai, Taiwan as well as the Chinese

provinces of Jiangsu, Zhejiang, Fujian, Anhui and Jiangxi.


    Enhance BioMedical Holdings is a subsidiary of Enhance Holding

Corporation, a multinational conglomerate with successful businesses in

various market sectors including healthcare. The conglomerate's CEO, Jackson

Ling, recently invested $5 million in an $11-million private placement

financing for NeoStem. Enhance BioMedical has healthcare provider

relationships with numerous hospitals and doctors in Taiwan and Shanghai, as

well as in the five provinces in China to which the Network Agreement

relates. Enhance BioMedical operates the Anti-Aging and Prevention Medical

Center in Taipei, Taiwan, with facilities focused on stem cell research and

development and anti-aging therapies. It expects to open an additional

healthcare center in Shanghai in the Spring of 2010, targeting high net worth

individuals.


    The Network Agreement expands NeoStem's China-related activities, which

are focused on moving forward regenerative medical therapies and medical

tourism for people seeking high-quality treatments not available in their own

countries. Under the Network Agreement, Enhance BioMedical is given the

exclusive rights to utilize NeoStem's proprietary adult stem cell

technologies identified by NeoStem from time to time to provide adult stem

cell services and therapies in the Asian territory. NeoStem will train

Enhance BioMedical staff in the proprietary knowledge, technology and

operating procedures to provide Enhance clients with these services. In

return, NeoStem is entitled to a six figure technical assistance fee. NeoStem

also will be entitled to a stated royalty on gross revenues generated by

Enhance from providing the NeoStem stem cell services for the duration of the

renewable 10 year Network Agreement and also may receive other fees in

connection with assisting in the launching of the network.


    Robin Smith, M.D., MBA, NeoStem's Chief Executive Officer, said, "We are

very pleased to form this alliance with Enhance Biomedical Holdings. It

advances our strategy of collaboration with China-centered enterprises and

will expand internationally our network of adult stem cell collection centers

in key metropolitan areas in the United States. We believe our overall

international strategy will create strong commercial, financial and

scientific opportunities for NeoStem, enabling us to accelerate our stem cell

therapy, research and development activities and create intellectual property

positions in environments that are accepting of stem cell science and

therapies while maintaining the rigorous standards adhered to in the United

States for new technologies."


    NeoStem's platform business provides the infrastructure, methods and

systems that allow adults to have their stem cells safely collected and

conveniently banked through safe, minimally invasive processes that can take

place in a doctor's office, clinic, academic medical center or hospital that

is part of a developing nationwide network of NeoStem Collection Centers.


    Jackson Ling, CEO of Enhance Holding Corporation, said, "We are very

excited to form this alliance with NeoStem, Inc. I have been greatly

impressed with the forward thinking of this company's leadership and with the

commercial potential for NeoStem technologies and services in Taiwan and

China. China has a population of 1.3 billion people, and although the GDP is

low, it still has more than 100 million wealthy people who care very much

about their health. NeoStem's stem cell technologies fit our requirements for

new leading-edge health centers focused on anti-aging and prevention. We

passed the anti-aging program using stem cell treatment information on to our

club members one month ago and already have 1,000 people on a wait list for

such services. We are pleased to begin what we expect to be a long-term

collaboration."


    About NeoStem, Inc.

    NeoStem is developing a network of adult stem cell collection centers

that are focused on enabling people to donate and store their own

(autologous) stem cells when they are young and healthy for their personal

use in times of future medical need. The Company has also entered into

research and development through the acquisition of a worldwide exclusive

license to technology to identify and isolate VSELs (very small

embryonic-like stem cells), which have been shown to have several physical

characteristics that are generally found in embryonic stem cells and is

pursuing other technologies to advance its position in the field of stem cell

tissue regeneration.




    Forward-Looking Statements

    This 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. The Company's

actual results, including the realization of the financial and other benefits

from the establishment of the network agreement with respect to its adult

stem cell technologies 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 for the fiscal year

ended December 31, 2008 and the Company's other periodic filings 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.


    CONTACT:  

    NeoStem, Inc.

    Robin Smith, Chief Executive Officer

    T: 212-584-4180

    E: rsmith@neostem.com




     SOURCE:  NeoStem, Inc.


    CONTACT:  Robin Smith, 

              Chief Executive Officer, 

Community Health NeoStem, Inc. 2 image

              NeoStem, Inc.,

              +1-212-584-4180, 

              rsmith@neostem.com


Translations:

   Chinese - Traditional (http://asianetnews.net/Download.asp?ID=128042)



 

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