MELVILLE, N.Y.--(BUSINESS WIRE)--Jan. 26, 2006--Phase III Medical, Inc. (Phase III) (OTCBB:PHSM), has completed the acquisition of NeoStem, Inc., a company that specializes in the collection and storage of adult stem cells. Pursuant to the terms of the acquisition, Phase III, through its wholly owned subsidiary, has purchased certain assets, properties and rights of NeoStem that relate to its adult stem cell collection and storage business in exchange for the issuance of 5,000,000 shares of the Company’s common stock and the assumption of certain of NeoStem’s liabilities.
