NEW YORK, July 22, 2013 (GLOBE NEWSWIRE) -- NeoStem, Inc. (NYSE MKT:NBS) ("NeoStem" or the "Company"), a leader in the emerging cellular therapy market, announced today the appointment of Stephen W. Potter as Executive Vice President of the Company. Mr. Potter is a seasoned and successful senior executive with extensive management experience in the biotechnology and pharmaceutical industries. Stephen has served since February on NeoStem's Board of Directors and its Nominating and Governance Committee. Upon his appointment as Executive Vice President, Stephen resigned from the Company's Board of Directors.
"Stephen brings a history of success in cell therapy development and global operations and, combined with his existing working knowledge of both the research and operations of our Company, he will be a key figure in our future success," said Dr. Robin L. Smith, Chairman and CEO of NeoStem. "As NeoStem moves forward in growing its contract development and manufacturing services business, continues the development and looks ahead to the commercial launch of its therapeutic product pipeline, and evaluates multiple business development opportunities, we expect Stephen's demonstrated experience to have a significant impact on our Company's value."
"I am excited to join the NeoStem team, working collaboratively with its management and advisors, to drive significant value for the Company," said Mr. Potter. "I believe that cell therapies will play a significant role in the fight against chronic disease. NeoStem has developed a unique platform of contract services as well as developing its own pipeline of cell therapy products and I am pleased to work with Dr. Robin Smith and the Company's top notch team in the building of a world class, highly competitive and profitable business."