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ALLENDALE, N.J. and HACKENSACK, N.J., Jan. 7, 2013 (GLOBE NEWSWIRE) -- NeoStem, Inc. (NYSE MKT:NBS) and its subsidiary, Progenitor Cell Therapy, LLC ("PCT"), an internationally recognized contract development and manufacturing organization (CDMO), and Hackensack University Medical Center ("HackensackUMC"), part of the Hackensack University Health Network and a hub of healthcare for the Northern New Jersey and New York metropolitan areas, announced today that HackensackUMC has renewed its engagement of PCT's services for processing and storage of a variety of cell types used therapeutically by the hospital.
HackensackUMC will use the services of PCT for processing and storage services for peripheral blood progenitor cells, donor leukocytes, bone marrow and cord blood, as well as for further assays, storage, retrieval and transportation. HackensackUMC was recently voted one of the best hospitals by U.S. News and World Report 2012-2013, placing it fourth out of the 184 hospitals in the New York Metropolitan Area and number 1 in New Jersey. HackensackUMC has grown to be a preeminent cancer treatment facility with one of the largest blood and bone marrow transplant programs in the world.
"We are very excited to continue our relationship with HackensackUMC, whose engagement of PCT began in 1999, thirteen years ago," said Robert A. Preti, PhD, President and Chief Scientific Officer of PCT. "Our agreement with HackensackUMC enables us to continue to play a vital part in patient care for cancers and other hematologic disorders, and to continue to provide cell products to our entire client base. Since its founding, PCT has provided cell therapy products for infusion into over 6,000 patients."
"Our agreement with PCT provides us with a high quality and cost-effective solution to our cell processing and storage needs and supports a range of cell therapy based research and development programs," said Robert C. Garrett, President and Chief Executive Officer of HackensackUMC. Dr. Andre Goy, Chairman and Director of the John Theurer Cancer Center at HackensackUMC, added, "PCT's platform, which is designed under strict cGMP ("Current Good Manufacturing Practices") guidelines, ensures that our research activities will be conducted using the gold standard of our industry. PCT's recognized competencies in cell and tissue processing and storage, as well as cell transportation, make it an ideally suited partner for HackensackUMC."