NEW YORK, Jan. 15, 2013 (GLOBE NEWSWIRE) -- NeoStem, Inc. (NYSE MKT:NBS), an emerging leader in the fast growing cell therapy market, announced today that Dr. Aaron Havens of the University of Michigan has won the Milo Hellman Research Award from the American Association of Orthodontists ("AAO") for his research in collaboration with NeoStem. The research, published in Stem Cells and Development in an article titled "Human Very Small Embryonic-Like Cells Generate Skeletal Structures, In Vivo," demonstrated bone regeneration capabilities of human VSELs™ stem cells in a mouse model, further expanding the therapeutic potential of NeoStem's proprietary regenerative cell therapy product.
Dr. Havens, a third-year resident of the University of Michigan School of Dentistry's graduate orthodontics program, will receive the award during the AAO's annual session in May in Philadelphia. Dr. Havens works under the mentorship of Dr. Russell Taichman, Major Ash Collegiate Professor and Co-Director of the Scholars Program in Dental Leadership Department of Periodontics & Oral Medicine, University of Michigan.
This published controlled study, funded by National Institute of Arthritis and Musculoskeletal and Skin Diseases under SBIR grant number RAR056893Z, "Repair of boney defects by human stem cells," and led by Drs. Taichman and Havens, involved isolating G-CSF mobilized VSEL™ stem cells from the blood of healthy donors and transplanting them into burr holes made in the cranial bones of SCID mice. After three months, it was observed that the implanted VSEL™ stem cells had differentiated into human bone tissue in the crania of the mice.
Dr. Robin Smith, Chairman and CEO of NeoStem, said, "We congratulate Dr. Havens for receiving this honor which we believe further underlines the significance of this work on VSEL™ Technology by our collaborators at the University of Michigan. We believe this exciting data will be the foundation for future VSEL™ stem cell studies of bone regeneration in humans. We look forward to moving the development work from the laboratory into the clinic through the first approved NIH clinical study of VSEL™ stem cells in humans, expected to begin enrolment in 2013, to develop a therapeutic stem cell product to enhance bone formation in humans."
The Milo Hellman Research Award is presented annually by the AAO to "the most outstanding and meritorious research paper of unusual merit, related to orthodontics, according to the AAO. This is the third consecutive year that a resident of the University of Michigan's School of Dentistry's graduate orthodontics program has won this award.
About VSELTM Technology
NeoStem has a worldwide exclusive license to VSELTM Technology. Research by Mariusz Ratajczak, M.D., Ph.D., and others at the University of Louisville provides compelling evidence that bone marrow contains a heterogeneous population of stem cells that have properties similar to those of an embryonic stem cell. These cells are referred to as very small embryonic-like stem cells. This finding opens the possibility of capturing some of the key advantages associated with embryonic stem cells without the ethical or moral dilemmas and without some of the potential negative biological effects associated with stem cells of embryonic derivation. The possibility of autologous VSEL™ treatments is yet another important potential benefit to this unique population of adult stem cells. VSELTM Technology offers the potential to go beyond the paracrine effect, yielding cells that actually differentiate into the target tissue creating true cellular regeneration. For more information, visit www.vseltechnology.com
About NeoStem, Inc.
NeoStem, continues to develop and build on its core capabilities in cell therapy, capitalizing on the paradigm shift occurring in medicine. We anticipate that cell therapy will have a significant role in the fight against chronic disease and in lessening the economic burden that these diseases pose to modern society. We are emerging as a technology and market leading company in this fast developing cell therapy industry. Our multi-faceted business strategy combines a state-of-the-art contract development and manufacturing subsidiary, PCT, with a medically important cell therapy product development program, enabling near and long-term revenue growth opportunities. We believe that, with our expertise and research capabilities and collaborations, we will achieve our mission of becoming a premier cell therapy company.
Our contract development and manufacturing service business supports the development of proprietary cell therapy products. NeoStem's most clinically advanced therapeutic, AMR-001, is being developed at Amorcyte, LLC ("Amorcyte"), which we acquired in October 2011. Amorcyte is developing a cell therapy for the treatment of cardiovascular disease and is enrolling patients in a Phase 2 trial to investigate AMR-001's efficacy in preserving heart function after a heart attack. Athelos Corporation ("Athelos"), which is 80%-owned by our subsidiary, PCT, is collaborating with Becton-Dickinson in the early clinical exploration of a T-cell therapy for autoimmune conditions. In addition, pre-clinical assets include our VSELTM Technology platform as well as our mesenchymal stem cell product candidate for regenerative medicine. Our service business and pipeline of proprietary cell therapy products work in concert to create a competitive advantage that we believe is unique to the biotechnology and pharmaceutical industries. Supported by an experienced scientific and business management team and a substantial intellectual property estate, we are well positioned to succeed. For more information, please visit www.neostem.com.
Forward-Looking Statements for NeoStem, Inc.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company's business strategy, including with respect to the successful development of any therapeutic product based on the Company's VSELTM Technology, the size of the market for any such products, its competitive position in such markets, the Company's ability to successfully penetrate such markets and the efficacy of protection from its patent portfolio, as well as the future of the cell therapeutics industry in general, including the rate at which such industry may grow. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors, including but not limited to matters described under the "Risk Factors" in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 20, 2012 and in the Company's other periodic filings with the Securities and Exchange Commission, all of which are available on its website. The Company does not undertake to update its forward-looking statements. The Company's further development is highly dependent on future medical and research developments and market acceptance, which is outside its control.
The content of this press release is solely the responsibility of the authors and does not necessarily represent the official views of the National Institutes of Health.
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