In the news release, NeoStem Featured in Business Week; 'Promising' Adult Stem Cell Market Discussed in Fortune-CNNMoney.com Article, issued 22-Jun-2009 by NeoStem, Inc. over PR Newswire, we are advised by the company that the fourth paragraph, third sentence, should read 'By 2018, he says stem cell therapy revenues could grow to $8.2 billion.' rather than '$8.2 million' as originally issued inadvertently. The complete, corrected release follows:
NeoStem Featured in Business Week; 'Promising' Adult Stem Cell Market Discussed in Fortune-CNNMoney.com Article
NEW YORK, June 22 /PRNewswire-FirstCall/ -- NeoStem, Inc. (NYSE Amex: NBS), which is pioneering the pre-disease collection, processing and long-term storage of adult stem cells for future medical need, was featured in Gene Marcial's prominent Business Week column, 'Inside Wall Street,' on June 18, 2009. Also, on June 16, 2009, the expanding investment potential for adult stem cell businesses was assessed in a substantial Fortune Magazine article distributed by CNNMoney.com.
In his Business Week column, Mr. Marcial observed, 'Big plans by tiny NeoStem (NBS), which collects and stores adult stem cells for future medical use, have helped catapult its stock to $2.27 a share from 50 cents on March 9.' The columnist went on to cite NeoStem's patent protection filed for in May for an adult stem cell technology to be used in cosmetic facial rejuvenation. He also cited the 51% stake NeoStem is taking in Suzhou Erye Pharmaceutical Co. Ltd., a 50-year-old Chinese drug manufacturer with approximately $50 million in revenues in 2008. This acquisition is subject to obtaining the approval of the shareholders of the Company and China Biopharmaceuticals Holdings, Inc., obtaining appropriate regulatory approvals and other customary closing conditions. For clarification, separate from the Company's planned entrance into the pharmaceutical business in China through the acquisition of Erye, the Company is embarking on its own independent initiatives to develop stem cell therapies in China. Mr. Marcial also cites NeoStem's raise of $11 million in April and its exclusive 10-year agreement, announced June 15, 2009, with Enhance BioMedical Holdings Limited, a Shanghai corporation, to develop a network of Stem Cell Collection and Treatment Centers in Shanghai, and the Chinese provinces of Jiangsu, Zhejiang, Fujian, Anhui and Jiangxi using NeoStem's proprietary technologies.
