NeoStem's CEO's Letter to Shareholders Jan 3 2012
Dear NeoStem Shareholders,
We would like to take a moment to both look back at 2011 - a transformative year for NeoStem (NYSE Amex: NBS) - and to look ahead to near term catalysts that we expect to move the company forward in 2012 and beyond.
· We have closed two acquisitions - Progenitor Cell
Therapy, LLC ("PCT") and Amorcyte, LLC
("Amorcyte").
· We believe our therapeutic product development team
is very close to accomplishing its aggressive goal of
getting a first patient enrolled in our AMR-001 Phase 2
clinical trial for the treatment of AMI with the clinical
sites beginning to open. This brings us closer to
achieving our goal of enrollment of the targeted 160
patients in the study over the next year or so with first
data follow-up six months after the last patient is
enrolled (roughly mid-2013).
· Our cell therapy manufacturing business is growing
and client satisfaction confirms our belief and excitement
that we have unique skills and people (expertise, quality
and work ethic) to serve as a platform to be a global
leader in the cell therapy space.
· We raised $16.5 million in gross proceeds in 2011
for working capital, including research and development of
our cell therapeutic candidates.
· We received awards of over $1.7 million in
Department of Defense funding for development of our VSELTM
Technology to treat osteoporosis and $245,176 from the
National Institutes of Health (NIH) with Excell
Therapeutics to progress our T regulatory program in
Lupus.
· We co-hosted a spectacular international conference
in partnership with the Vatican's Pontifical Council
for Culture on Adult Stem Cells: Science and the Future of
Man and Culture, moving forward the public discussion of
adult stem cells and adult stem cell research.
· Our cord blood banking enrollment has more than
doubled over the previous year.
· We have been marketing our ownership in Suzhou Erye
Pharmaceutical Co. Ltd. subsidiary for possible
sale.
· We have positioned our intellectual property
portfolio to expand beyond the current indications and give
us a strong position in the cell therapy arena.
· We continue to make great headway in integrating IT
systems, legal, finance, and marketing for our multiple
entities to achieve cost savings and maximize
efficiencies.
· NeoStem gained a significant pharmaceutical
partnership with Becton Dickinson through our co-ownership
of Athelos, Inc. (80% NeoStem, 20% BD). We are actively
pursuing additional strategic relationships with major
pharmaceutical and biotechnology companies in 2012.
Sincerely,
Dr. Robin L. Smith
Chairman and CEO
About NeoStem, Inc.
NeoStem, Inc. ("NeoStem") is a leader in the
development and manufacture of cell therapies. NeoStem has
a strategic combination of revenues, including that which
is derived from the contract manufacturing services
performed by Progenitor Cell Therapy, LLC, a NeoStem
company. That manufacturing base is one of the few cGMP
facilities available for contracting in the burgeoning cell
therapy industry, and it is the combination of PCT's
core expertise in manufacturing and NeoStem's extensive
research capabilities that positions the company as a
leader in cell therapy development. Amorcyte, Inc., also a
NeoStem company, is developing a cell therapy for the
treatment of cardiovascular disease. Amorcyte's lead
compound, AMR-001, represents NeoStem's most clinically
advanced therapeutic, poised to commence enrollment of
patients in a Phase 2 trial for the preservation of heart
function after a heart attack. Athelos Corporation, also a
NeoStem company, is developing a T-cell therapy for a range
of autoimmune conditions with our partner Becton-Dickinson.
NeoStem's pre-clinical assets include its VSEL™
Technology platform for regenerative medicine, which
NeoStem believes is an endogenous pluripotent non-embryonic
cell that has the potential to change the paradigm of cell
therapy as we know it today.
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 and medical strategy,
including with respect to the development of AMR-001 and
other cell therapies and its divestiture of its interest in
Erye Pharmaceutical Co., about which no assurance can be
given. 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 definitive proxy statement filed with
the Securities and Exchange Commission on September 16,
2011 and in the Company's periodic filings with the
Securities and Exchange Commission. The Company's
further development is highly dependent on future medical
and research developments and market acceptance, which is
outside its control.
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