SOURCE: NeoStem, Inc.

February 07, 2007 14:08 ET

NeoStem, Inc. Appoints Wayne A. Marasco, M.D., Ph.D., to Chair Company's Scientific Advisory Board

Associate Professor at Harvard Medical School and Dana-Farber Cancer Institute Will Help Establish Academic Alliances and Source Intellectual Property

NEW YORK, NY -- (MARKET WIRE) -- February 7, 2007 -- NeoStem, Inc. (OTCBB: NEOI), the only company specializing in the collection, processing and long-term storage of stem cells extracted in a safe noninvasive way from adults for personal use by the donor (Your Cells for Your Use), announced today that Wayne A. Marasco, M.D., Ph.D., has agreed to serve as Chairman of the Company's Scientific Advisory Board.

Dr. Marasco is an Associate Professor in the Department of Cancer Immunology & AIDS at the Dana-Farber Cancer Institute and Associate Professor of Medicine at Harvard Medical School. A former founding Director and long-time Senior Scientific Advisor to the Company, Dr. Marasco will focus some of his efforts on heading and expanding NeoStem's new Scientific Advisory Board. In addition, Dr. Marasco will assist in the Company's initiatives of establishing partnerships with leading academic institutions focused on stem cell therapies and translational research and will help source intellectual property that will keep NeoStem in the forefront of the adult stem cell field.

Dr. Marasco will continue to advise the Company on identifying and engaging leading physicians and scientists who are increasingly revolutionizing adult stem cell treatments in the fields of cardiology, radiation exposure, diabetes, blood cancer and other cancers, wound and burn healing, skeletal repair, and autoimmune disorders such as lupus, multiple sclerosis and rheumatoid arthritis.

Dr. Marasco said, "Adult stem cell treatments are evolving at a very rapid rate, and many of the world's most accomplished physicians and scientists are involved in developing and advancing these remarkable new treatments. Many of these advances are occurring at leading academic centers. NeoStem intends to work with these physician/scientists and their institutions to ensure the highest quality and most advanced technology for expanding the Company's important pioneering services of collecting, processing and long-term storage of adult stem cells for multiple therapeutic uses."

Robin L. Smith, M.D., MBA, NeoStem's Chief Executive Officer, said, "We are delighted that Dr. Marasco has agreed to lead the development of our new Scientific Advisory Board. He is an outstanding scientist in the field of Cancer Immunology, and we believe his reputation and achievements will attract leaders in other medical fields to our unique business and encourage them to join the NeoStem Scientific Team.

About NeoStem, Inc.

NeoStem, Inc. (OTCBB: NEOI) is in the business of processing and long-term storage of stem cells safely extracted from adults for multiple uses by the individual in the future. NeoStem and its network of providers use a safe, minimally invasive procedure -- apheresis -- to collect the cells. Using its proprietary process, NeoStem provides the infrastructure, methods and systems that allow adults to have their stem cells safely collected and conveniently banked for multiple future therapeutic uses, as needed, in the treatment of such diseases as diabetes, heart disease, cancer and radiation sickness. Further potential uses for adult stem cells include regenerative therapies for wound healing, autoimmune diseases such as multiple sclerosis and lupus, and age-related degenerative musculoskeletal diseases. NeoStem's first processing and storage bank facility has been licensed by the State of California and is operating in Los Angeles.

Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements concerning the ability of NeoStem, Inc. ("the Company") to develop the adult stem cell business, the future of regenerative medicine and the role of adult stem cells in that future, the future use of adult stem cells as a treatment option and the potential revenue growth of the Company's business. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. The Company' s ability to enter the adult stem cell arena and future operating results are dependent upon many factors, including but not limited to (i) the Company's ability to obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) the Company's ability to build the management and human resources and infrastructure necessary to support the growth of its business and obtain appropriate state licenses; (iii) competitive factors and developments beyond the Company's control;(iv) scientific and medical developments beyond the Company's control and (v) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission which are available for review at www.sec.gov under "Search for Company Filings."

Pursuant to an October 1, 2006 agreement, Consulting For Strategic Growth 1, Ltd. ("CFSG1") provides the Company with consulting, business advisory, investor relations, public relations and corporate development services, for which CFSG1 receives a fixed monthly fee for the duration of the agreement and received shares of NeoStem's common stock. Independent of CFSG1's receipt of cash or other compensation from the Company, CFSG1 may choose to purchase the common stock of the Company and thereafter sell those shares at any time it deems appropriate to do so. For more information, please visit www.cfsg1.com.

Contact Information

  • CONTACTS
    Robin Smith
    CEO
    NeoStem, Inc.
    420 Lexington Ave., Ste. 450
    NY, NY 10170
    Tel: (212) 584-4180
    Fax: (646) 514-7787
    Email; Email Contact
    Web site: www.neostem.com

    Stanley Wunderlich/Daniel Stepanek
    Consulting for Strategic Growth 1
    800 Second Avenue
    New York, NY 10017
    Tel: (800) 625-2236
    Fax: (212) 337-8089
    Emails: Email Contact
    Email Contact
    Web site: www.cfsg1.com