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NeoStem to Receive $700,000 from the U.S. Army’s Medical Research and Materiel Command to Advance Adult Stem Cell Therapies in Treating Traumatic Wounds

July 12, 2010

NEW YORK, July 12 /PRNewswire-Asia-FirstCall/ — NeoStem, Inc.
(NYSE Amex: NBS) (“NeoStem” or the “Company”), an international
biopharmaceutical company with operations in the U.S. and China, today
announced that it has been awarded a $700,000 contract from the U.S. Army
Medical Research and Materiel Command, Telemedicine and Advanced Technology
Research Center (USAMRMC-TATRC) under U.S. Army Medical Research Acquisition
Activity contract number: (W81XWH-10-2-0039). This contract is for the
purpose of evaluating the use of topically applied bone marrow-derived adult
mesenchymal stem cells (MSCs) for rapid wound healing. The Company previously
announced that this funding was included in the Department of Defense FY09
Appropriations Bill and will begin receiving funds to initiate the program in
2010.

“NeoStem is thrilled to have the United States Government’s support to
advance our technology and is honored to become part of TATRC’s regenerative
medicine portfolio. It is our goal with this important project to leverage
adult stem cell technology to help our soldiers avoid amputations and
immobilization from injuries that they may sustain while fighting for our
country. We understand the urgent need to improve regenerative medicine
capabilities and reach ultimate medical solutions. Wound healing could
represent just the beginning of more collaborative projects involving other
clinical indications, such as spinal cord injuries and retinal damage, both of
which affect American warriors who serve our country in the global war on
terrorism,” said Robin Smith, M.D., Chairman of the Board and Chief Executive
Officer of NeoStem. “These federal monies will allow us to intensify our
efforts to expand the potential impact of adult stem cells, including very
small embryonic-like stem cells for which we have an exclusive license, in
wound healing and other areas of regenerative medicine in general in an effort
to improve tissue repair and decrease overall medical costs,” she continued.

Vincent Falanga, M.D., F.A.C.P., Professor, Boston University School of
Medicine
and Chairman and Program Director at Roger Williams Medical Center,
who is to be Co-Principal Investigator for this study, endorsed Dr. Smith’s
statement adding, “Adult mesenchymal stem cells (MSCs) and very small
embryonic-like (VSEL) stem cells can be harvested with relative ease from
individuals. Our studies indicate that an individual’s own (autologous) stem
cells can be highly successful in healing wounded tissues and in regenerative
processes. Together with the wound delivery methods we have developed, these
stem cells could bring about a quantum step forward in the way we treat non-
healing chronic wounds and many types of injuries, both in the civilian and
military population.”

About USAMRMC

The USAMRMC is responsible for medical research, development, and
acquisition and medical logistics management to establish and maintain the
capabilities the Army needs to fight and win on the battlefield. For more
information, please visit: https://mrmc-www.army.mil/

About TATRC

TATRC performs medical reconnaissance and special operations to address
critical gaps that are underrepresented in DoD medical research programs and,
among other objectives, aims to invest in and manage research projects and
programs that will benefit service members with traumatic injuries by
restoring them to fullest possible function. For more information, please
visit: http://www.tatrc.org/?p=home

About NeoStem, Inc.

NeoStem, Inc. is engaged in the development of stem cell-based therapies
and building of a network of adult stem cell collection centers in the U.S.
and China that are focused on enabling people to donate and store their own
(autologous) stem cells for their personal use in times of future medical need.
The Company is also the licensee of various stem cell technologies, including
a worldwide exclusive license to VSEL(TM) Technology which uses very small
embryonic-like stem cells, shown to have several physical characteristics that
are generally found in embryonic stem cells, and is pursuing the licensing of
other technologies for therapeutic use. NeoStem’s majority-controlled Chinese
pharmaceutical operation, Suzhou Erye, manufactures and distributes generic
antibiotics in China. For more information, please visit:
http://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. Forward looking
statements include the future of VSEL(TM) Technology and adult stem cells as a
viable treatment option and whether any government funding will be available
for any future projects, about which no assurances can be given. The Company’s
actual results 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 prospectus filed with the Securities and Exchange Commission
on June 28, 2010 under Rule 424(b)(5), as well as other periodic filings made
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.

The views, opinions and/or findings contained in this press release are
those of the Company and do not necessarily reflect the views of the
Department of Defense and should not be construed as an official DoD/Army
position, policy or decision unless so designated by other documentation. No
official endorsement should be made.

    For more information, please contact:

    CCG Investor Relations, Inc.
     Kalle Ahl, Account Manager
     Phone: +1-646-833-3417
     Email: kalle.ahl@ccgir.com
     Web:   http://www.ccgirasia.com

     Crocker Coulson, President
     Phone: +1-646-213-1915
     Email: crocker.coulson@ccgir.com

SOURCE NeoStem, Inc.


Source: newswire



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