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NeoStem (AMEX: NBS) acquires Progenitor Cell Therapy

NBS and Progenitor Cell Therapy (PCT) closed their merger transaction.

PCT’s revenue will complement NBS’s growing adult stem cell operations.  

  • PCT was a privately held cell therapy company with operations on the east and west coast of the US serving the cell therapy community with cGMP state-of-the art cell therapy manufacturing facilities, processing and storage facilities for stem cells collected from the umbilical cord at birth;
  • Since its inception in 1999, PCT has served over 100 clients from around the world and has experience with more than 20 different cell based therapeutics;
  • PCT has performed over 30,000 cell therapy procedures in its cell therapy manufacturing facilities, processed and stored over 18,000 cell therapy products (including approximately 7,000 umbilical cord blood units, 10,000 blood and marrow derived stem cell units and 1,000 dendritic cell units) and arranged the logistics and transportation for over 14,000 cell therapy products for clinical use by over 5,000 patients;
  • NBS has purchased revenues, clients and reduces NBS’s prior expense line as PCT was a vendor;
  • The addition of PCT will allow NBS to focus on growing the cord blood and adult stem cell banking, cellular manufacturing and therapeutic business.