NeoStem Makes Headway in Stem Cell Industry

| About: Caladrius Biosciences, (CLBS)
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NeoStem, Inc. (NBS) in-licensed worldwide rights to Primcel, a mesenchymal (bone marrow) stem cell product that, in early clinical studies, shows promise of accelerating the healing of chronic wounds. NeoStem has opened adult stem cell collection sites in the US and has invested in regenerative medicine companies in China. When NeoStem received new capital from Asian investors in April 2009, the company declared its intention to enter the medical tourism business.

Primcel was developed by Vincent Falanga, MD, Chairman of the Department of Dermatology and Skin Surgery at Roger Williams Medical Center, Providence, R.I., and a past President of the Wound Healing Society. Primcel is expected to be a prepackaged product, ready for physician use, consisting of three applications over a 12-week period.

Dr. Robin Smith, CEO of NeoStem, said in a statement that the US Department of Defense appropriated $800,000 last year for NeoStem to evaluate the use of adult stem cells to treat wounds. The net amount of the grant, which must be distributed to NeoStem by October 2010, will be $681,000.

In addition to accident victims, Primacel may also help the chronic wounds of diabetics, who face amputation from unhealed wounds.

NeoStem is also investigating another of its licensed technologies for wound healing. VSELs (very small embryonic-like stem cells) have exhibited several physical characteristics generally found in embryonic stem cells, and NeoStem is testing this technology as a wound healing treatment as well.

Disclosure: none.