NeoStem and U.S. Government combine efforts to evaluate breakthroughs in adult stem cell therapies in treating our Military personnel and first responders
NEW YORK, Oct. 20 /PRNewswire-FirstCall/ -- NeoStem, Inc. ,
NeoStem, Inc., which is pioneering the pre-disease collection, processing and long-term storage of adult stem cells for future medical need, announced today that they are to be the recipient of $800,000 in Federal funding supported by Congressman Steve Rothman (D-NJ) through the Department of Defense FY09 Appropriations bill. NeoStem intends to use the funds to evaluate the potential use of adult stem cell therapy for treating injuries suffered by members of the U.S. military and first responders.
"NeoStem is thrilled to have this support for our technology from the United States Government and we are humbled by the opportunity to help those who are first in line to protect our freedom," said Robin Smith, M.D., Chairman of the Board and Chief Executive Officer of NeoStem. "The health, well-being, and preservation of the lives of our wounded warriors is a top priority for NeoStem as well as the distinguished members of our Congress. We are proud and truly honored to secure these federal monies, and to further efforts to study the impact that adult stem cells may have in treating those suffering from a variety of serious health conditions, such as radiation exposure, severe burns, crush injuries of the bone and chronic open wounds."
"This effort could lead to groundbreaking medical findings that ultimately save troops from amputations and immobilization from injuries they may sustain while fighting for our Country," said Congressman Steve Rothman (D-NJ), who, as a member of the House Appropriations Committee's Subcommittee on Defense, was instrumental in obtaining the appropriations for NeoStem.
Dr. Smith further stated, "There are a number of diseases already being treated with adult stem cells including tissue and blood cancers and autoimmune diseases. We look forward to working with the U.S. Government on this very special cause, and are hopeful for a successful outcome."
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 for future medical need. The Company has also recently 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.
For more information, please visit: www.neostem.com.
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 its successful development of its adult stem cell collection network and the acceptance and efficacy of adult stem cell therapies, 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 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: Robin Smith, Chief Executive Officer of NeoStem, Inc.,
+1-212-584-4180, rsmith@neostem.com
Web site: http://www.neostem.com/
