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NEW YORK, July 14, 2014 (GLOBE NEWSWIRE) -- NeoStem, Inc. (Nasdaq:NBS), a leader in the emerging cellular therapy industry, announced today that Frost & Sullivan has awarded the Company its 2014 North American Cell Therapeutics Technology Innovation Leadership Award. The award is part of Frost & Sullivan's Best Practice Award series, recognizing companies that have demonstrated excellence in devising strong growth strategies and robustly implementing these approaches.
NeoStem was recognized for its outstanding achievement and superior performance in Cell Therapeutics Technology, after being evaluated in categories including Commitment to Innovation, Commitment to Creativity, Pioneering Best Practices, and Aspirational Ideals, as well as other criteria. To select the award winner, Frost & Sullivan industry analysts compared market participants and measured performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry.
"We want to thank Frost & Sullivan for recognizing NeoStem's ongoing technology innovation in contract manufacturing services as well as proprietary product development," said Dr. Robin L. Smith, NeoStem's Chairman and CEO. "NeoStem is committed to leveraging its industry leading development and manufacturing capabilities across its multi-pronged product pipeline, which now includes our recent expansion into cancer immunotherapy development through our acquisition of a Phase 3 ready product candidate for metastatic melanoma."
According to Cecilia Van Cauwenberghe, Industry Analyst at Frost & Sullivan, "NeoStem is not only an indisputable leader in the emerging field of cellular therapeutics, holding a number of proprietary technologies at different stages of development, but also NeoStem is playing a significant role in shaping the future of the regenerative medicine industry through the work of its contract manufacturing subsidiary Progenitor Cell Therapy ("PCT"), who is working on engineering and innovating the development and manufacturing of cell therapies to make the process more scalable and robust for all cell therapy manufacturers in preparation for their commercial manufacturing needs.