NEW YORK, May 15, 2014 (GLOBE NEWSWIRE) -- NeoStem, Inc. (Nasdaq:NBS) ("NeoStem" or the "Company"), a leader in the emerging cellular therapy industry, and its subsidiary, Progenitor Cell Therapy, LLC ("PCT"), announced today that PCT has been awarded re-accreditation by the Foundation for the Accreditation of Cellular Therapy (FACT). By demonstrating compliance with the FACT-JACIE International Standards for Cellular Therapy Product Collection, Processing and Administration, PCT has earned FACT Accreditation for its Allendale, New Jersey and Mountain View, California sites. PCT's accreditation is effective for three years beginning October 19, 2013.
"We are proud, once again, to obtain accreditation by FACT. We understand that our clients put a great deal of trust in PCT to deliver high quality products and consistent results, and the FACT accreditation is just one of the many ways that we demonstrate that our programs consistently meet or exceed industry standards for the use of cellular products," said Dr. Robert Preti, Chief Scientific Officer of NeoStem and PCT and President of PCT.
FACT is an internationally-recognized accrediting body for hospitals and medical institutions offering stem cell transplant, and indicates the accredited institution has met the most rigorous standards in every aspect of stem cell therapy. This covers the entire spectrum of stem cell therapy, from clinical care to donor management, cell collection, processing, storage, transportation, administration, and cell release. FACT-JACIE Standards are defined by leading experts based on the latest knowledge of the field of cellular therapy transplantation."FACT accreditation and the certification of other leading regulatory bodies demonstrate that PCT is meeting the highest standards of quality for stem cell therapy," says Dr. Robin Smith, Chairman and CEO of NeoStem. "With more than 15 years of expertise in helping clients achieve their manufacturing and development goals, PCT has set a high bar for the cellular therapy industry."