NeoStem (AMEX: NBS) PCT Subsidiary receives Accreditations
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NBS’s Progenitor Cell Therapy (PCT), a wholly owned subsidiary is in compliance with FACT-JACIE based on inspections at facilities in Allendale, New Jersey and Moutain View, Cal
FACT-JACIE standards were developed in 2006 by the Foundation for the Accreditation of Cellular Therapy and the Joint Accreditation Committee of the International Society for Cellular Therapy (ISCT) and the European Group for Blood and Marrow Transplantation (EBMT).
The Bottom Line: The accreditation process involved the submission of documentation to demonstrate compliance to standards and subsequent on-site inspections conducted by inspectors qualified by training and experience in cellular therapy. Adherence to such high standards further ensures cell stability and viability and batch consistency for the development of a cell therapy product. PCT also obtained AABB accreditation in the category of “Cord Blood Activities Processing, Storage and Distribution” for its NJ facility. With plans to rapidly expand the manufacturing and storage business to drive revenues from cell therapy clients as well as internal therapeutic development, FACT accreditation for PCT is critical to promote quality medical and laboratory practice of cellular therapy through its peer-developed standards and voluntary inspection and accreditation program. AMEX: NBS is up $0.04 (2.05%) to $1.99 in early morning trading.
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