Neostem Announces Five-Year Agreement with Hemacare for Adult Stem Cell Collection Services
News Jan 09, 2007
NeoStem, Inc. has announced a five-year agreement with HemaCare Corporation to provide NeoStem with collection services for the procurement of adult stem cells from peripheral blood for the purpose of long-term storage.
NeoStem expects this relationship to foster the Company’s growth by increasing its adult stem cell collection capacity and helping to expand its collection infrastructure through HemaCare’s mobile units and free standing facilities in Maine and Sherman Oaks California.
Mark Weinreb, President of NeoStem, stated, “HemaCare will provide NeoStem with all of the essential medical protocols and standard operating procedures required for the out-patient collection of adult stem cells as well as the training expertise for our third-party collection network.”
HemaCare, a provider of blood products and services to the U.S. healthcare industry, will provide services for the purpose of long term storage exclusively to NeoStem for a period of five years.
HemaCare will perform these services at its own or NeoStem facilities, or at a third-party center affiliated with NeoStem including members of NeoStem’s Physician’s Network.
Under the agreement, HemaCare’s main facility in Sherman Oaks, California, becomes an additional Adult Stem Cell Collection Center for NeoStem and HemaCare will provide collection services throughout California and the East Coast.