NeoStem Appoints Steven M. Klosk to Board of Directors
July 08 2014 - 7:30AM
NeoStem, Inc. (Nasdaq:NBS), a leader in the emerging cellular
therapy industry, announced today the appointment of Steven M.
Klosk to its Board of Directors.
Mr. Klosk is a seasoned senior executive with extensive
management experience in the life sciences industry. He is
currently President, CEO & Director at Cambrex Corporation
(NYSE:CBM), one of the leading providers of active pharmaceutical
ingredients, advanced intermediates and finished dosage form
products to the branded and generic pharmaceutical markets. In
his current role since May 2008, Mr. Klosk is responsible for all
aspects of Cambrex's global business with manufacturing and
R&D facilities in the US, Sweden, Italy, Estonia, Germany and
India. Since 2010, Cambrex sales have increased from $226
million to $317 million and market capitalization has tripled.
Mr. Klosk has also held other executive positions at Cambrex
Corporation, including Executive Vice President & COO; as well
as President, Pharma Business Unit (2007-2008) where he had full
P&L and balance sheet responsibility for four operating units
in North America and Europe. Prior to this he was Executive Vice
President & COO Cambrex Pharma & Biopharmaceuticals
Business Unit (2003-2007) where he was responsible for managing a
highly profitable global business with six operating units in North
America and Europe. Earlier in his career Mr. Klosk served as Vice
President, Administration for the The Genlyte Group, Inc., a
publicly traded $1.0 billion producer of lighting fixtures.
Mr. Klosk earned a B.S. from Cornell University and a J.D. from
New York Law School.
"We are so pleased that Steven Klosk will be bringing his
extensive business experience in the pharma and biopharma
industries to our Board," said Dr. Robin L. Smith, Chairman
and CEO of NeoStem. "Steven's successful track record of managing
global business units and driving shareholder value will provide us
with meaningful guidance as NeoStem continues its strategic growth
in the cellular therapy industry."
Mr. Klosk stated, "I look forward to working with Dr. Smith and
the rest of the NeoStem Board to help promote NeoStem's already
successful growth in both the manufacturing arena and clinical
development pipeline areas of the business."
About NeoStem, Inc.
NeoStem is a leader in the emerging cellular therapy industry,
pursuing the preservation and enhancement of human health globally
through the development of cell based therapeutics that prevent,
treat or cure disease by repairing and replacing damaged or aged
tissue, cells and organs and restoring their normal function. The
business includes the development of novel proprietary cell therapy
products as well as a revenue-generating contract development and
manufacturing service business. This combination has created an
organization with unique capabilities for cost effective in-house
product development and immediate revenue and cash flow generation.
www.neostem.com
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 successful execution of the
Company's business strategy, the Company's ability to develop and
grow its business, the successful development of cellular therapies
with respect to the Company's research and development and clinical
evaluation efforts in connection with the Company's Targeted
Immunotherapy Program, CD34 Cell Program, T Regulatory Cell Program
and other cell therapies, the future of the regenerative medicine
industry and the role of stem cells and cellular therapy in that
industry, the performance and planned expansion of the Company's
contract development and manufacturing business and the Company's
final and continued inclusion on any Russell indexes. 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 the "Risk Factors" described in the Company's Annual Report
on Form 10-K filed with the Securities and Exchange Commission
("SEC") on March 13, 2014, the Company's Current Report on Form 8-K
filed with the SEC on May 8, 2014 and in the Company's other
periodic filings with the SEC. The Company's further development is
highly dependent on future medical and research developments and
market acceptance, which is outside its control.
CONTACT: Investor Contact:
LifeSci Advisors, LLC
Michael Rice
Founding Partner
Phone: +1-646-597-6979
Email: mrice@lifesciadvisors.com
Media Contact:
NeoStem, Inc.
Eric Powers
Manager of Communications and Marketing
Phone: +1-212-584-4173
Email: epowers@neostem.com
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