June 30, 2011
/PRNewswire/ -- NeoStem, Inc. (NYSE Amex: NBS), an international biopharmaceutical company with product and service revenues, global research and development capabilities and operations in three distinct business units – U.S. adult stem cells,
adult stem cells, and
pharmaceuticals, is pleased to announce that
has joined the firm as Vice President, Corporate Controller and Chief Accounting Officer. Joe formerly held various senior positions at OSI Pharmaceuticals, Inc., ("OSI") a publicly-traded biopharmaceutical company focused on discovering, developing and commercializing products for the treatment of cancer, diabetes and obesity, and most recently served as its Vice President and Corporate Controller.
While at OSI from 1996 to 2010, Joe helped build the accounting and finance infrastructure to support the clinical development and commercial launch of Tarceva®, OSI's targeted therapy approved for the treatment of patients with non-small cell lung cancer and pancreatic cancer. Prior to OSI, Joe worked at Bristol-Myers Squibb from 1995 to 1996 in the Financial Reporting and Consolidations Group, and at KPMG from 1993 to 1995 in the Health Care and Life Sciences Audit Group. Joe also served as Treasurer of OSI Pharmaceuticals Foundation from 2008 to 2010.
"NeoStem is developing a promising and novel scientific and clinical platform, and is poised for significant future growth. I look forward to working with the strong leadership team as we execute on our strategic initiatives," said
, Vice President, Corporate Controller and Chief Accounting Officer.
Robin L. Smith
, Chairman and CEO of NeoStem, said, "Joe's experience in the biopharmaceutical industry, including his seeing a product candidate from clinical trials through a highly successful commercial launch, makes him an ideal addition to the NeoStem team as we continue developing our cell-based therapeutics. We believe Joe will be instrumental to the financial management of our diverse business units, as we continue to grow."
About NeoStem, Inc.
NeoStem, Inc. is engaged in the development and manufacturing of cell-based therapies in the U.S. Its
acquisition of Progenitor Cell Therapy, LLC ("PCT") is central to the Company's strategic mission of capturing the paradigm shift to cell therapy. The acquisition of PCT gives NeoStem not only access to a world class contract manufacturing cell therapy company but provides a platform and expertise around the evaluation, development and regulatory requirements to develop autologous, allogeneic, immunomodulatory and vaccine-based therapeutics. NeoStem also holds the 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 owns 80% of Athelos Corporation, a company developing a T-cell therapeutic with potential in a range of auto-immune conditions such as graft versus host disease, asthma and diabetes. Furthermore, NeoStem is building its Chinese presence by establishing an operations lab for cell-based manufacturing in
as well as commercializing cellular therapies in
through the establishment of a network of hospitals. NeoStem also owns a majority-interest in Suzhou Erye Pharmaceutical Company Limited, a world class manufacturing and distribution operation of generic antibiotics in
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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 statements herein with respect to the successful execution of the Company's strategy, 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 Annual Report on Form 10-K filed with the Securities and Exchange Commission on
April 6, 2011
, 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.
For more information, please contact:NeoStem, Inc.
, CEOPhone: +1 (212) 584-4174E-mail:
SOURCE NeoStem, Inc.