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NeoStem Appoints Steven M. Klosk To Board Of Directors

Stocks in this article: NBS

NEW YORK, July 8, 2014 (GLOBE NEWSWIRE) -- NeoStem, Inc. (Nasdaq:NBS), a leader in the emerging cellular therapy industry, announced today the appointment of Steven M. Klosk to its Board of Directors.

Mr. Klosk is a seasoned senior executive with extensive management experience in the life sciences industry. He is currently President, CEO & Director at Cambrex Corporation (NYSE:CBM), one of the leading providers of active pharmaceutical ingredients, advanced intermediates and finished dosage form products to the branded and generic pharmaceutical markets. In his current role since May 2008, Mr. Klosk is responsible for all aspects of Cambrex's global business with manufacturing and R&D facilities in the US, Sweden, Italy, Estonia, Germany and India. Since 2010, Cambrex sales have increased from $226 million to $317 million and market capitalization has tripled.

Mr. Klosk has also held other executive positions at Cambrex Corporation, including Executive Vice President & COO; as well as President, Pharma Business Unit (2007-2008) where he had full P&L and balance sheet responsibility for four operating units in North America and Europe. Prior to this he was Executive Vice President & COO Cambrex Pharma & Biopharmaceuticals Business Unit (2003-2007) where he was responsible for managing a highly profitable global business with six operating units in North America and Europe. Earlier in his career Mr. Klosk served as Vice President, Administration for the The Genlyte Group, Inc., a publicly traded $1.0 billion producer of lighting fixtures.

Mr. Klosk earned a B.S. from Cornell University and a J.D. from New York Law School.

"We are so pleased that Steven Klosk will be bringing his extensive business experience in the pharma and biopharma industries to our Board,"  said Dr. Robin L. Smith, Chairman and CEO of NeoStem. "Steven's successful track record of managing global business units and driving shareholder value will provide us with meaningful guidance as NeoStem continues its strategic growth in the cellular therapy industry."

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