This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

NeoStem Announces The Receipt Of Over $1,700,000 In DOD Funding For Its VSEL™ Technology Being Developed To Treat Osteoporosis

NEW YORK, Aug. 8, 2011 /PRNewswire/ -- NeoStem, Inc. (NYSE Amex: NBS) ("NeoStem" or the "Company"), an international biopharmaceutical company with a focus on cell based therapeutics development, today announced that the Department of Defense (DOD) Peer Reviewed Medical Research Program (PRMRP) of the Office of the Congressionally Directed Medical Research Programs (CDMRP) has awarded NeoStem $1,780,049 to be applied towards funding the Company's VSEL™ Technology. This award will support an investigation of a unique stem cell population, Very Small Embryonic-Like (VSEL) stem cells, for its bone building and regenerative effects in the treatment of osteoporosis.  The award is being made under the Company's FY2010 Technology/Therapeutic Development Award application number PR101055.

Robin Smith, M.D., MBA, NeoStem's Chairman and CEO commented, "The receipt of this grant award validates our research efforts and the promise of VSEL™ Technology in multiple clinical applications. We are thrilled that the Department of Defense has selected NeoStem and shares our excitement and vision regarding the clinical regenerative potential of our VSEL™ Technology. Awards such as these provide both non-dilutive capital and offer external peer-reviewed validation of the value of our research platform. We believe VSEL™ Technology holds great potential, beyond bone marrow derived mesenchymal stem cell approaches as these cells hold the promise of natural pluripotency i.e. to differentiate into all three germ layers. As such, these cells have the potential to move the regenerative medical field beyond the classic paracrine mechanisms (neoangiogenesis and down-regulation of inflammation) toward tissue and bone repair and regeneration."

"This research effort has the potential to dramatically change the way in which osteoporosis and bone fracture is treated in the military and in the general population," said Dr. Russell Taichman, Professor of Dentistry, Department of Periodontics and Oral Medicine at the University of Michigan's School of Dentistry who will work with the Company on the study.  

Dr. Taichman added, "Osteoporosis is a major medical condition affecting 75 million people worldwide and causing significant morbidity and mortality in the aging population and the increased incidence of fractures is the major cause of death from osteoporosis. In 2005, the estimated cost burden of fractures due to osteoporosis was $19 billion and that is expected to rise to over $25 billion by the year 2025. In addition to being a major concern for the general healthcare community, osteoporosis and related bone fractures have become a concern for the military with significant loss of duty time across all branches of the military due to related stress fractures."

Dr. Denis Rodgerson, NeoStem's Director of Stem Cell Science and Principal Investigator for the study commented, "We are honored to receive this award as it enables us, together with Dr. Taichman as co-Principal Investigator and his colleague Dr. Laurie K. McCauley, Chair, Department of Periodontics and Oral Medicine at the University of Michigan's School of Dentistry and Professor of Pathology at  the University of Michigan Medical School, to explore the significant therapeutic regenerative potential for VSEL™ Technology in autologous, cell-based therapies for the treatment of osteoporosis and other diseases of the bone."

NeoStem has a worldwide exclusive license to VSEL™ Technology which uses very small stem cells found in adult bone marrow that have several physical characteristics that are generally found in embryonic stem cells.  NeoStem has shown that these cells can be mobilized into the peripheral blood, enabling a minimally invasive means for collecting what NeoStem believes to be a population of stem cells that the potential to achieve the positive benefits associated with embryonic stem cells without the ethical or moral dilemmas or the potential negative biological effects associated with embryonic stem cells.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,001.22 -38.27 -0.22%
S&P 500 1,988.41 -3.96 -0.20%
NASDAQ 4,538.5510 +6.4470 0.14%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs