NeoStem Obtains Exclusive License to Innovative Stem Cell Procedure Treating Musculoskeletal Diseases
NEW YORK, May 11, /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, announced today it has signed an exclusive royalty-bearing license agreement for the Asia territory to use an innovative process that rapidly grows a patient’s own adult stem cells to treat a variety of musculoskeletal diseases.
The licensed procedure has been developed by Regenerative Sciences, LLC, a Colorado-based company focused on developing a medical procedure for the treatment of chronic orthopedic conditions. Known under the name Regenexx(TM), the innovative outpatient procedure takes stem cells from an individual’s bone marrow, isolates mesenchymal stem cells (which can grow into bone, tendon, muscle, ligament and cartilage), cultures them in a solution containing unique elements from the individual’s own blood, and generates millions of stem cells over two to three weeks. These cells are then re-injected into the person’s joints or bones in an office procedure to assist in tissue healing and restoration of bone and cartilage. The Regenexx Procedure has helped many patients avoid more risky and costly surgical intervention.
Additionally, Regenerative Sciences, through its founder and CEO, Christopher Centeno, M.D., will serve as a consultant to NeoStem, Inc. in the area of stem cell therapy in orthopedics. Dr. Centeno is an international expert in musculoskeletal, spinal and neurological injury. Dr. Centeno will continue to assist NeoStem in using mesenchymal stem cell isolation and transplantation methods abroad in the lab and clinical setting. He will also train NeoStem personnel in Colorado in mesenchymal stem cell isolation, preparation and transplantation methods.
