NeoStem Announces Plans to Change Name to Caladrius Biosciences Reflecting Transformation Into Immunotherapy Company
May 29 2015 - 8:26AM
NeoStem, Inc. (Nasdaq:NBS) ("NeoStem" or the "Company"), a
biopharmaceutical company developing novel cell-based
individualized medicine therapies, today announced plans to change
its corporate name to Caladrius Biosciences, Inc. ("Caladrius"),
effective June 8, 2015.
A photo accompanying this release is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=33014
"The upcoming name change and rebranding of NeoStem are
important steps to outwardly reflect what those in the industry and
our clients already know about the company – that we are a leader
in the innovation, development and manufacture of cell-based
individualized medicine and immuno-oncology, with extensive
experience in dozens of cell types as well as a pipeline using many
cells of the immune system beyond stem cells," said Dr. David J.
Mazzo, Chief Executive Officer of NeoStem. "The new corporate name
reflects the company's integrated approach to cell therapy and
creates a foundation for better market understanding of our
position in the field."
PCT (Progenitor Cell Therapy , LLC), a wholly-owned subsidiary
of NeoStem and an industry-recognized single source premier cell
therapy service provider, will be renamed "PCT, a Caladrius
company", also effective on June 8, with no change to its focus on
process development, engineering and manufacturing for clients
across the cell therapy industry.
In Roman mythology, the Caladrius is a bird that visits the ill
and is said to be able to absorb patients' illnesses and fly away,
dispersing the illness and healing both itself and the patient. In
that same spirit of recovery, NeoStem is committed to pursuing the
preservation and enhancement of human health though the development
and manufacture of cell-based therapeutics that prevent, treat, or
cure diseases by repairing and replacing damaged or aged tissue,
cells and organs and restoring their normal function. A new company
logo will be introduced to reflect this change.
NeoStem's current therapeutic pipeline, for which new names for
product candidates will be announced, includes:
- NBS20, the Company's lead product candidate, currently
enrolling in the Intus Phase 3 trial for the treatment of
metastatic melanoma, for which the first patient was randomized in
April 2015;
- NBS10, for the treatment of damaged heart muscle after acute
myocardial infarction, for which six and twelve month follow-up
results have been announced; and
- NBS03D, which has been FDA-cleared for a Phase 2 study for the
preservation of beta cell function in adolescents with type 1
diabetes.
Caladrius will trade on the NASDAQ stock exchange under ticker
symbol CLBS beginning on June 8, 2015.
The new website for Caladrius will be www.Caladrius.com; PCT, a
Caladrius company, will be found on the web at
www.pctcaladrius.com.
About NeoStem, Inc. (Soon to be Caladrius
Biosciences, Inc.)
NeoStem is a biopharmaceutical company pursuing the preservation
and enhancement of human health globally through the development of
novel cell-based individualized medicine therapeutics that prevent,
treat or cure disease. The Company is developing therapies based on
three platform technologies (immuno-oncology, ischemic repair and
immunomodulation) with a focus on its lead, Phase 3 clinical
program for NBS20 in immuno-oncology.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements reflect management's current
expectations, as of the date of this press release, and involve
certain risks and uncertainties. Forward-looking statements include
statements herein with respect to the timing and success of the
proposed public offering. The Company's actual results could differ
materially from those anticipated in these forward-looking
statements as a result of various factors. Factors that could cause
future results to materially differ from the recent results or
those projected in forward-looking statements include, among
others, the uncertainties related to market conditions, the
completion of the public offering on the anticipated terms or at
all, the final terms of the proposed offering, and the satisfaction
of customary closing conditions related to the proposed public
offering. For a further description of the risks and uncertainties
that could cause actual results to differ from those expressed in
these forward-looking statements, as well as risks relating to the
business of the Company in general, see the factors described under
the heading, "Item 1A. Risk Factors" in the Company's Annual Report
on Form 10-K filed with the SEC on March 2, 2015 and those
described in the Company's other periodic filings with the SEC. The
Company undertakes no obligation to update or revise any
forward-looking statements.
CONTACT: NeoStem, Inc.
Eric Powers
Manager of Communications and Marketing
Phone: +1-212-584-4173
Email: epowers@neostem.com
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