NEW YORK, Oct. 13, 2014 (GLOBE NEWSWIRE) -- NeoStem, Inc. (Nasdaq:NBS) ("NeoStem" or the "Company"), a leader in the emerging cellular therapy industry, announced today that the Company has been named one of the fastest growing companies from 2010 to 2013 located in the New York City area according to Crain's New York Business' Fast 50. This designation is part of Crain's New York Business' annual recognition of companies that have excelled in developing and implementing effective growth strategies in the New York City area.
NeoStem was recognized for its exceptional performance after being evaluated by its revenue growth during the four year period from 2010 to 2013. The selection was open to all nominated New York area headquartered companies, privately or publicly traded, with a minimum of $10 million in revenue in 2013.
"We are honored to be designated by Crain's as one of the fastest growing companies in the New York area and would like to thank them for recognizing NeoStem's success over the past few years," said Dr. Robin L. Smith, NeoStem's Chairman and CEO. "NeoStem is committed more than ever to leveraging its industry leading contract development and manufacturing services across its diversified pipeline, which has some important developments expected during the fourth quarter including results from the PreSERVE Phase 2 clinical trial investigating the use of the Company's CD34 Technology to treat damaged heart muscle following an acute myocardial infarction the start of the Intus Phase 3 clinical trial investigating the use of the Company's DC/TC Technology to treat malignant melanoma."
Crain's New York Business' Fast 50 Ranking is presented annually by Crain's to honor "companies setting the pace for the rest of New York," according to the magazine's website. This is the fourth consecutive year that the magazine has compiled this ranking of the growth of leading New York companies.
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 Cancer 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. 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.