NeoStem and Invetech Announce Agreement to Develop Closed Processing System for Cell Therapy Manufacturing
January 12 2015 - 7:30AM
NeoStem, Inc. (Nasdaq:NBS), a leader in the development and
manufacturing of cell therapy products and regenerative medicine,
and Invetech Pty Ltd ("Invetech"), a global leader in instrument
development, custom automation and contract manufacturing, today
announced an agreement for the development of a new closed
processing system (the "System") for cell therapy manufacturing.
Under the agreement, Invetech will provide system design and
engineering development and NeoStem will develop applications for
performing closed cell processing manipulations such as separation.
The agreement envisions NeoStem as the commercial supplier of the
System which would constitute its first branded entry into the cell
therapy tools market.
The System will be applicable to a range of cell therapy
processes in development and commercialization stages, and will
consist of an instrumentation platform, disposable flow path, and
operating and application software for automated execution of
user-selected protocols. The System will provide a flexible small
scale process suitable for GMP manufacturing of autologous and
other patient-specific products where small scale is full scale,
while also supporting efficient development of processes at lower
cost prior to transitioning to scaled volumes.
"We are pleased to be partnering with Invetech on the
development of a new technology specifically designed to meet the
needs of our clients as their cell therapy products progress
through clinical trials on a path towards commercialization," said
Robert A. Preti, Ph.D., president of PCT, and chief scientific
officer of NeoStem. PCT will carry out the work and is a
wholly-owned subsidiary of NeoStem.. "By combining PCT's more than
15 years of process development and manufacturing experience with
Invetech's industry leading automated processing device expertise,
we hope to produce and potentially market a system that would
deliver significant cost of goods, quality, and scaling benefits
over existing manual, cleanroom-based processing strategies."
"Working with NeoStem to create equipment that will deliver
services to companies in the emerging cell therapy industry is
exciting and satisfying," said Richard Grant, global vice
president, cell therapy division of Invetech. "Our team shares a
common passion with NeoStem to grow the cell therapy industry by
developing new technology to support successful product development
and commercialization."
"NeoStem's Engineering and Innovation Center (EIC) is one of the
first dedicated centers responding directly to the major challenges
that are facing the manufacturers of cell based therapeutics," said
Brian Hampson, vice president, manufacturing development and
engineering. "If ultimately commercialized, the sale of disposables
associated with the System, especially for patient-specific
therapies where one disposable set is used per patient, could
potentially become a meaningful revenue area for NeoStem."
About NeoStem
NeoStem is a biopharmaceutical company 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 combination of a rich
therapeutics pipeline and externally recognized in-house
manufacturing expertise has created an organization with unique
capabilities for cost effective and accelerated product
development. www.neostem.com
About Invetech
Invetech has been creating breakthrough products and custom
automation systems for more than 30 years. With experience drawn
from more than 5,000 projects globally, Invetech partners with
global leaders in industry to deliver product design and
development, contract manufacturing, and custom automation
services. The company has experience in a broad range of market
sectors including laboratory diagnostics, point of care
diagnostics, life sciences, cell therapy, industrial and consumer
products. With active projects in North America, Europe, and Asia
Pacific, Invetech is well positioned to service clients ranging
from startups to established multinationals.
www.invetech.us
Forward-Looking Statements for NeoStem,
Inc.
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, Ischemic Repair Program , Immune Modulation
Program and other cell therapies, the future of the regenerative
medicine industry and the role of stem cells and cellular therapy
in that industry, and the performance and planned expansion of the
Company's contract development and manufacturing business as well
as its efforts to expand its capabilities into the cell therapy
tools market. 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 of
its control.
CONTACT: Media Contact for NeoStem, Inc.:
Eric Powers
Manager of Communications and Marketing, NeoStem, Inc.
Phone: +1-212-584-4173
Email: epowers@neostem.com
Media Contact for Invetech Pty Ltd
Adam Daley
Berry & Company Public Relations
Phone: +1-212-253-8881.
Email: adaley@berrypr.com
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