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NeoStem's Subsidiary, Progenitor Cell Therapy, Launches Web-Based Service For Real-Time Cell Therapy Product Tracking

Stocks in this article: NBS

NEW YORK, March 18, 2013 (GLOBE NEWSWIRE) -- NeoStem, Inc. (NYSE MKT:NBS) ("NeoStem" or the "Company"), a leader in the emerging cellular therapy market, today announced that the Company's contract development and manufacturing ("CDMO") subsidiary, Progenitor Cell Therapy ("PCT"), has launched a new service offering, using a custom developed Internet/Web application to further its position as a technology leader for cell therapy. The new service, an automated software system called "PCTFORME.COM", resides in a highly secure, cloud based computing environment, available 24/7, and serves to enhance PCT's service offering to its growing client base.  This service has been launched for a major client and is now available for all of PCT's existing and future stem cell clients.

PCTFORME allows PCT's clients to securely access patient details on-line and provides for real time product ordering, processing and retrieval via automated communications between PCT's clients and laboratory staff. The system is expected to significantly enhance communication by enabling easy tracking of current processing, increasing PCT's efficiencies and streamlining the process for the ordering of patient cells for infusion. PCTFORME is HIPAA compliant and built on a proven Microsoft software platform and supporting cloud based hardware infrastructure.

Robert A. Preti, PhD, President and Chief Scientific Officer of PCT, said, "The need to service the demand, in both volume and variety of procedures, continues to grow as PCT serves our client base. The efficiencies gained in order entry, cell product inventory management, and real time procedure result reporting is expected to improve patient care through enhanced communication, control and transparency. In this regard, PCTFORME represents a patient product management breakthrough in stem cell processing."   

"As the field of cell therapy continues to emerge, we believe technology will enable us to reduce costs, better service our clients and build scalable operations to be ready for the future when cell therapy becomes standard of care in medical practice," said Dr. Robin L. Smith, Chairman and CEO of NeoStem. "Our management is focused on evaluating, developing and incorporating such technologies into our state-of-the-art contract development and manufacturing business to assist our clients, as well as our clinical development subsidiaries, with their cell therapy product development, and in preparation to launch them into the clinic."  

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