NEW YORK, March 6, 2014 (GLOBE NEWSWIRE) -- NeoStem, Inc. (Nasdaq:NBS) ("NeoStem" or the "Company"), a leader in the emerging cellular therapy industry, announced today that it has entered into a sponsored research collaboration with Massachusetts Eye and Ear/Schepens Eye Research Institute, an affiliate of Harvard Medical School.
In this collaboration, NeoStem will sponsor research in the laboratory of principal investigator Michael Young, Ph.D., Director of the Ocular Regenerative Medicine Institute at Mass. Eye and Ear in Boston. The objective of the research is to investigate the role of very small embryonic-like stem cells ("VSELs™"), as well as CD34+ cells, in a study that will compare the efficacy of these two cell types for retinal repair.
"We are enthusiastic about continuing to work with NeoStem to explore the regenerative potential of their human VSEL™ Technology," said Dr. Michael Young. "Our work will use animal models to determine whether highly enriched human VSELs™, when injected in the vitreal or subretinal space, can migrate and integrate into areas of damage and have the ability to differentiate and express markers of retinal stem cells, neuronal cells, and photoreceptors."
"We are excited to build upon the relationship we have established with Mass. Eye and Ear/Schepens and work with Dr. Michael Young to advance research to determine the potential of VSELs™ to treat ocular diseases such as macular degeneration, retinitis pigmentosa, and other retinal degenerative diseases that have no effective treatment options today," said Dr. Robin L. Smith, Chairman and CEO of NeoStem.
About NeoStem, Inc.
NeoStem, Inc. is a leader in the emerging cellular therapy industry. Our business model includes the development of novel proprietary cell therapy products as well as operating a contract development and manufacturing organization providing services to others in the regenerative medicine industry. The combination of a therapeutic development business and revenue-generating service provider business provides the Company with capabilities for cost effective in-house product development and immediate revenue and cash flow generation. www.neostem.com
About Massachusetts Eye and Ear
Mass. Eye and Ear clinicians and scientists are driven by a mission to find cures for blindness, deafness, and diseases of the head and neck. Led by the Eaton-Peabody Laboratory in Otology, the Howe Laboratory in Ophthalmology, and Schepens Eye Research Institute, Mass. Eye and Ear in Boston is the world's largest vision and hearing research center, offering hope and healing to patients everywhere through discovery and innovation. Mass. Eye and Ear is a Harvard Medical School teaching hospital and trains future medical leaders in ophthalmology and otolaryngology, through residency as well as clinical and research fellowships. Internationally acclaimed since its founding in 1824, Mass. Eye and Ear employs full-time, board-certified physicians who offer high-quality and affordable specialty care that ranges from the routine to the very complex. U.S. News & World Report's "Best Hospitals Survey" has consistently ranked the Mass. Eye and Ear Departments of Otolaryngology and Ophthalmology as among the top hospitals eye and ear departments in the nation. The Schepens Eye Research Institute fights blindness by developing new technologies, therapies, and knowledge to preserve and restore vision. Through a continuum of discovery, Schepens works toward a future in which blindness is prevented, alleviated, and ultimately cured. Founded in 1950 by famed retinal surgeon Charles L. Schepens, M.D., Schepens is a non-profit basic research institute and one of the largest eye research institutes in the U.S. Schepens is an affiliate of Harvard Medical School and has trained more than 600 postdoctoral fellows and over 500 eye surgeons who now practice around the world. The Institute has published more than 4,600 scientific papers and books about eye health and disease. www.schepens.harvard.edu
Forward-Looking Statements
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 cellular therapies, including with respect to AMR-001 and regulatory T cells, the future of the regenerative medicine industry and the role of stem cells and cellular therapy in that industry and the Company's ability to successfully grow its contract development and manufacturing business. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the "Risk Factors" described in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 11, 2013 and in the Company's periodic filings with the SEC. The Company's further development is highly dependent on future medical and research developments and market acceptance, which is outside its control.