NeoStem Receives Asia Investment

NeoStem, Inc. (NBS) completed a $1.25 million private placement from RimAsia Capital Partners, a pan-Asia private equity firm. This appears to be RimAsia’s first investment in a Western company. Previously, RimAsia's invested in China-based enterprises involved in pharmaceutical manufacturing, drug delivery systems, coal blending, print media and semiconductor design.

According to a statement from Dr. Robin Smith, Chairman and CEO of NeoStem, RimAsia is a “regional network of strategic investors drawn from leading Asian families and companies.” He positioned the Asian investment in NeoStem as a first step in the company’s initiative to gain exposure to global markets. Smith said NeoStem plans to expand overseas and make international acquisitions.

NeoStem manages a network of adult stem cell collection centers in major US cities. The centers enable people to donate and store their own stem cells when they are young and healthy for future need. Also, in terms of R&D, NeoStem has acquired a worldwide exclusive technology license to identify and isolate VSEL (very small embryonic-like) stem cells, which have many of the desirable characteristics found in embryonic stem cells.

RimAsia purchased 1 million units priced at $1.25 each, with each unit consisting of one share of common stock and a warrant to purchase one share of common stock at $1.75.

Disclosure: none.

Comments

[User 61118:]

Robin has done a wonderful job in a difficult environment....valuati... aside this is great news...long shareholder

2008 Sep 04 08:17 AM