NEW YORK, Oct. 27, 2014 (GLOBE NEWSWIRE) -- NeoStem, Inc. (Nasdaq:NBS), ("NeoStem" or the "Company") a leader in the emerging cellular therapy industry, announced today that Dr. Robert Preti, the Company's Chief Scientific Officer and President of its subsidiary, Progenitor Cell Therapy ("PCT"), was honored with the Excellence in Leadership award at the 2014 BioProcess International ("BPI") Awards. The recognition was announced by BPI during a special awards reception on October 22nd at the BioProcess International Conference and Exhibition at the Hynes Convention Center in Boston, Massachusetts.
According to BPI, the Excellence in Leadership award recognizes any single individual in a company, regardless of a company's organizational hierarchy, who has shown excellent leadership skills. Achievements of the individual finalists have established them as strong leaders and/ or mentors. Their key leadership skills have allowed them to successfully help their businesses achieve operational excellence, demonstrated strong visions to drive their companies to greater commercial success, and motivated their teams for growth and innovation. Other finalists for the award included leaders from Pfizer and GE Healthcare Life Sciences.
"I am truly honored to have been selected as the recipient of the BPI Excellence in Leadership Award," said Dr. Robert Preti. "At PCT, we pride ourselves on helping our clients to be forward thinking. Although this award is in recognition of my leadership of our company, I believe that it reflects on the contributions of everyone at PCT, and I thank my team for making PCT a recognized leader in the cell therapy industry."
"This award further demonstrates our focus on strong leadership as we continue to grow with an eye towards the commercialization of cell therapies and a focus on reliability and product quality," said Dr. Robin L. Smith, Chairman and CEO of NeoStem, "and we congratulate Dr. Preti on this recognition."
About the BioProcess International Award
According to BPI, the awards celebrate the outstanding achievements, collaborations, business strategies, social corporate responsibility and technology applications that will allow the biopharmaceutical industry to deliver better, more effective treatments to a global patient base. Organized by BioProcess International (BPI) is a business-to-business publication dedicated to delivering cutting-edge information focused on the development and manufacture of biopharmaceuticals and therapeutics. Learn more at http://www.bioprocessintl.com.
About PCT
Progenitor Cell Therapy (PCT), a wholly owned subsidiary of NeoStem, Inc., is a leading contract development and manufacturing organization in the cellular therapy industry. For over 15 years, PCT has provided pre-clinical and clinical cGMP development and manufacturing services to more than 100 clients, advancing regenerative medicine product candidates from the development stage all the way through to human testing. PCT has two cGMP-compliant, state-of-the art facilities in New Jersey and California to serve the cell therapy industry and offers manufacturing of cell therapy-based products, engineering and innovation services, process and product development, cell and tissue processing, collection and storage, regulatory consulting, facility design, validation, and due diligence evaluations. www.pctcelltherapy.com
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, 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, 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.