NeoStem Announces Launch of Third Stem Cell Collection Center
News Mar 26, 2007
NeoStem, Inc., has announced an agreement to expand the Company’s nationwide Physician’s Network. The new Pennsylvania location will be among the first such centers to target a projected $8.5 billion adult stem cell industry.
The facility, which should open sometime this summer, will mark the third adult stem cell collection center, and the second in less than a week, in NeoStem’s strategic business plan to generate revenues from a nationwide network of collection centers.
The new center will serve health-conscious clients interested in having their stem cells banked, as well as health professionals working in multibillion-dollar medical industries, including cancer, diabetes, multiple sclerosis, lymphoma and heart disease.
“NeoStem has entered a new phase of progress,” said Robin Smith, M.D., Chief Executive Officer of NeoStem. “This new facility will serve as a launching pad for our East Coast expansion. Because of NeoStem’s easily scalable, non-capital-intensive business strategy, we hope to establish a robust nationwide network in a relatively short amount of time. We believe that each new center is an important milestone as we continue on our overriding mission to build shareholder value.”
The center will offer the collection, processing and long-term banking of adult stem cells for an adult’s own therapeutic use. NeoStem’s proprietary processes allow patients to store their own stem cells for long periods of time to allow prompt access in times of critical medical need. These cells are considered “autologous” as they are used by the donor exclusively for personal use to ensure biocompatibility.
Recently, NeoStem also announced an agreement to expand its Physician’s Network in Las Vegas. The Las Vegas location provides an ideal destination for international travelers looking for an opportunity to enhance their own bio-insurance while vacationing in the United States.
Additionally, a recent article in the San Diego Business Journal spotlighted another of the Company’s facilities at the California Healthspan Institute, an anti-aging medical institute based in Encinitas, CA.