New York, Nov. 15, 2012 — NeoStem, Inc. (NYSE MKT:NBS) (“NeoStem” or the “Company”), an emerging market leader in the fast growing cell therapy industry, today announced it ranked number 1 in the Tri-State region and number 7 nationally on Deloitte’s 2012 Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America.
Dr. Robin L. Smith, NeoStem’s Chairman and CEO, said “We are proud to be recognized for this achievement as we build NeoStem into a top tier biopharmaceutical company and thrilled to be honored alongside such fast-growing, successful companies such as Celgene, LinkedIn, and Google. On behalf of the entire NeoStem team, I would like to thank Deloitte & Touche, LLP for their recognition of our efforts.”
NeoStem is emerging as a market leader in the fast growing cell therapy industry. The Company’s multifaceted business strategy combines a state-of-the-art contract development and manufacturing organization (CDMO) with a medically important cell therapy product development program providing for near- and long-term revenue growth opportunities. We focus on developing cell therapy products around a strong IP portfolio. These products are focused on large markets such as cardiovascular disease, autoimmune disorders and regenerative medicine.
In a challenging economy with risk adverse capital markets, we have fashioned a management team that is both flexible and opportunistic. PCT, acquired in 2011, expands our revenue growth and gives us unique insight into the clinical and commercial cell therapy manufacturing market while we simultaneously develop our own clinical products. This service business and pipeline of proprietary cell therapy products work in concert, giving us a competitive advantage that we believe is unique to the biotechnology and pharmaceutical industries.
NeoStem is focused on organic growth and continuously evaluates strategic opportunities. We look forward to achieving success for our future patients, our PCT clients, employees and shareholders.
About Deloitte’s 2012 Technology Fast 500™
Technology Fast 500, conducted by Deloitte & Touche LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2007 to 2011.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About NeoStem, Inc.
NeoStem, Inc. continues to develop and build on its core capabilities in cell therapy, capitalizing on the paradigm shift that we see occurring in medicine. In particular, 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, Progenitor Cell Therapy, LLC (“PCT”), with a medically important cell therapy product development program, enabling near and long-term revenue growth opportunities. We believe this expertise and existing research capabilities and collaborations will enable us to 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 product candidate, 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 approximately 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 VSEL TM 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, giving us 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 believe we are well positioned to succeed.