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NeoStem Announces Agreement With ProHEALTH to Open Adult Stem Cell Collection Center in the New York Metropolitan Area

Posted on: Wednesday, 17 October 2007, 03:00 CDT

NeoStem, Inc. (AMEX:NBS), a leading-edge healthcare services company capitalizing on breakthroughs in the burgeoning field of adult stem cell therapeutics, has announced the signing of an agreement with ProHEALTH Care Associates to open an adult stem cell collection center. ProHEALTH, one of the largest and most prominent multi specialty practices in the New York metropolitan area, has over 100 providers in its network and provides care for over 250,000 patients in one of the most populous and affluent markets in the nation. Located in Nassau County on Long Island and within miles of New York City, ProHEALTH has gained particular renown by becoming the official medical provider of major regional sports franchises and events including, the NY JETS, the NY Islanders, and the US Open Tennis Championships.

ProHEALTH will begin its collection operations upon the receipt of licensure by the New York State Department of Health. As it builds its client base, ProHEALTH intends to establish the first single purpose facility dedicated specifically to providing adult stem cell collection services, as well as supporting any future stem cell related offerings developed, acquired or licensed by NeoStem.

Robin Smith, MD, MBA, the Chairman and CEO of NeoStem, stated: "Our agreement with ProHEALTH is one of NeoStem's most significant milestones to-date. Our relationship marks the beginning of what we envision becoming one of the most profitable regions served by our company. Our affiliation with ProHEALTH, such a large and renowned multi-specialty practice, helps validate the goal of our business model. We intend to work towards collaborations with institutions of ProHEALTH's size and/or renown in other major metropolitan regions throughout the country, to further accelerate our growth and momentum."

Dr. David Cooper, Chief Executive Officer of ProHEALTH, said, "Since inception, ProHEALTH has been determined to stay on the leading edge of medical developments. NeoStem's advanced systems for collecting and storing autologous adult stem cells will give patients in the community the ability to take advantage of stem cell therapies offered today, as well as the therapies under development."

Dr Smith added, "We are also delighted that NeoStem's agreement with ProHEALTH comes on the heels of the collaboration we announced just last week with the New England Cryogenic Center, one of the largest and best run stem cell storage facilities of its kind. We have now planted firm roots in the Northeast and hope that all of NeoStem's stakeholders, especially those in need of autologous stem cell therapy, benefit from our efforts."

About NeoStem, Inc.

NeoStem is a healthcare services company enhancing the delivery of adult stem cell therapeutics to health-conscious consumers. The Company is developing a nationwide network of adult stem cell collection centers, enabling people to donate and store their own stem cells with NeoStem for personal use years or decades later in times of critical medical need. Although adult stem cell therapies are in use for only a small number of diseases today, the Company believes medicine is on the threshold of a plethora of new therapeutic uses of autologous adult stem cells.

The proprietary NeoStem technologies empower health-conscious consumers to help protect their future health by undergoing treatment with their own stem cells, providing an accessible supply of healthy, genetically matched stem cells for use in the eventuality of illness.

Hundreds of stem cell-based research programs and clinical trials investigating the use of non-controversial adult stem cells, such as those collected from donors using NeoStem's methods are currently underway. As the nation's population ages and encounters serious age-related and congenital health issues, NeoStem has positioned itself as a leader in the national trend toward protecting one's future health.

Under its strategic business plan, NeoStem has begun opening a network of adult stem cell collection facilities in several major metropolitan areas, with plans to expand this network throughout the U.S. Its stem cell collection systems will be located in existing physician offices and medical facilities, where the procedures and care can be administered by trusted personal doctors and medical professionals.

For more information, please visit: www.neostem.com.

For other information and resources about the Company, visit www.CFSG1.com or www.trilogy-capital.com/tcp/neostem/quote.html.

Forward-Looking Statements

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, its success in such 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; (iii) competitive factors and developments beyond the Company's control; (iv) scientific and medical developments beyond the Company's control; (v) the Company's inability to obtain appropriate state licenses or any other adverse effect or limitations caused by government regulation of the business; (vi) whether any of the Company's current or future patent applications result in issued patents; and (vii) 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 I, 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.

Source: Business Wire

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