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NEW YORK, Feb. 11, 2013 (GLOBE NEWSWIRE) -- NeoStem, Inc. (NYSE MKT:NBS) ("NeoStem" or the "Company"), an emerging leader in the fast growing cell therapy market, today announced that the appointment of Stephen W. Potter to its Board of Directors.
Mr. Potter is a seasoned senior executive with extensive management experience at biotechnology and pharmaceutical companies. Most recently, Mr. Potter served as Senior Vice President of Operations and Corporate Development for Osiris Therapeutics, Inc. During his tenure at Osiris, he worked as a member of the senior leadership that achieved approval of the first-ever stem cell drug therapy, Prochymal®. He was also responsible for the launch and overall management of the Bio-Surgery business unit and had operational oversight for multiple functional areas including manufacturing, human resources, IT, legal, and business development.
Prior to his tenure at Osiris, Mr. Potter served as Senior Vice President of Corporate and Business Development at Genzyme Corporation. Over his ten years at Genzyme, he was the senior leader for its global corporate and business development team that provided strategic and transaction support, including support for many of Genyzme's cell therapy opportunities. Mr. Potter has also held positions at DuPont Pharmaceuticals, E.I. Dupont de Nemours and Company, Inc., and Booz Allen & Hamilton. Mr. Potter earned a B.S. from University of Massachusetts and an MBA from Harvard Business School.
"For such an industry expert to select NeoStem is another validation of the company's multi-faceted business strategy that combines a state-of-the-art contract development and manufacturing subsidiary with a medically important and advancing pipeline of cell therapy products, positioning the Company to benefit from the rapidly emerging cell therapy industry," said Dr. Robin L. Smith, Chairman and CEO of NeoStem. "As the field of cell therapy continues to emerge, with NeoStem as a recognized leader, Stephen Potter's successful track record of launching products, formulating and implementing business strategies and executing high profile and high value transactions will provide key insights and meaningful guidance as our portfolio advances into and through the clinic."