Posted on April 14th, 2014
by Robin Smith
Since NeoStem was founded in 2006, I have had the immense pleasure as Chairman and CEO of overseeing the growth and transformation of the Company into a truly unique member of the cell therapy industry. One such activity that has helped NeoStem thrive is our understanding of the need to constantly evolve and to recognize value when it is presented to us. We pride ourselves on our innovative culture and our ability to harness the full potential of every asset we have at our disposal.
Today, I am proud to announce NeoStem’s plan to acquire California Stem Cell, Inc. (“CSC”), an Irvine, California based stem cell biotechnology company. As with any acquisition, the Company has carefully evaluated the value proposition of this transaction as it relates to all our constituents. As such, I can say with confidence that we believe the acquisition of CSC, along with its Phase 3 ready asset and impressive technology platform, will prove to be a crucial time of meaningful growth for us when we look back in a year’s time. I am especially excited by our plan to initiate a pivotal Phase 3 trial of CSC’s lead product candidate, a patient specific cancer immunotherapy, to treat patients with late stage metastatic melanoma. The merger is expected to close in May 2014 and is subject to customary closing conditions.
While the Phase 3 ready asset is of course an exciting development for NeoStem, the CSC acquisition represents a wide range of opportunities. CSC’s platform technology is based on their findings that tumors contain specialized cells, referred to as cancer stem cells, which are capable of generating new tumors. As such, the central concept behind CSC’s treatments is derived from the patient’s immunization against cancer stem cells. The end result is a patient specific immunotherapy that targets these cancer stem cells for therapeutic intervention. This platform technology has the potential to address other cancer indications beyond metastatic melanoma, such as hepatocellular carcinoma (liver cancer) and other immune responsive tumor types.
Adding CSC’s advanced immunotherapy technologies to NeoStem’s already diversified development pipeline only adds to our strength in the field. We are proud to be at the forefront of medicine’s shift towards cell therapy and believe the foundational work we are doing today will help us to provide potentially life-changing solutions/treatments for patients in the future. I look forward to what is sure to be a transformative time for the Company and will continue to update you as we move forward.
Robin L. Smith
Chairman and CEO
Forward Looking Statements
This blog 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 blog, 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 Immuno-oncology 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 wholly-owned subsidiary and its center of excellence for cell therapy process development, engineering and manufacturing, PCT. The Company's further development is highly dependent on future medical and research developments and market acceptance, which is outside of its control. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the Company in general, see the factors described under the heading, “Item 1A. Risk Factors" in the Company's Annual Report on Form 10-K filed with the SEC on March 2, 2015 and those described in the Company's other periodic filings with the SEC. The Company undertakes no obligation to update or revise any forward-looking statements.
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