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I found this news to be interesting. Stem cell storage of your personal adult cells, for future use on yourself. Hope that makes sense, just give her a read. CLosed up 8% yesterday, 4.68M mCap. Opinions?
Phase III Medical Receives License to Operate Adult Peripheral Blood Stem Cell Bank
By Market Wire Last Update: 8/8/2006 3:21:22 PM Data provided by
NEW YORK, NY, Aug 08, 2006 (MARKET WIRE via COMTEX) -- Phase III Medical, Inc. (PHSM), the first company to provide Autologous Adult Stem Cell (ASC) collection and banking services for the general population for long term storage for multiple therapeutic uses, today announced that it has received a license to operate an adult peripheral-blood stem cell bank.
This license, issued by the State of California Department of Health Services, permits Phase III, through its subsidiary NeoStem, Inc., to begin commercial collection, processing and storage of peripheral blood progenitor cells (adult stem cells) for autologous use -- Your cells for your use -- at its California facilities. Phase III can now begin operating its first ASC collection facility, processing laboratory and long-term cell storage facility, located in Los Angeles.
Using its proprietary process, NeoStem provides the infrastructure, methods and systems that allow adults to have their stem cells safely collected and conveniently banked, at any time, for future therapeutic use in the treatment of such life-threatening diseases as diabetes, heart disease and radiation exposure. Adult stem cell therapy has also been used for many years in treating blood cancer. Further potential uses include regenerative therapies for diseases such as multiple sclerosis and lupus, as well as anti-aging therapies.
NeoStem uses the least invasive form of collection called apheresis, a well known safe procedure that extracts stem cells from an adult's peripheral blood. Once collected, NeoStem's unique storage process allows the cells to be cryo-preserved during an individual's lifetime for use when needed.
Dr. Robin Smith, Chairman of the Board and CEO of Phase III, said, "This represents the beginning of the Company's plan to establish an array of centers and partnerships across the country to collect and store adult stem cells for future diagnostic and therapeutic use. Regenerative medicine is offering new hope for victims of heart disease, cancer, diabetes, and similar diseases. Others who could benefit from ASC therapy may be those First Responders who are seriously injured or exposed to radiation and similar life-threatening substances. We provide the critical support service allowing adults to have their stem cells safely collected and conveniently banked for their personal future use. We intend to grow as a business by servicing this rapidly expanding demand."
About Phase III Medical, Inc.
Phase III Medical, Inc. (PHSM), a Delaware corporation, is an innovative, publicly traded company that, through the acquisition of NeoStem, is positioned to become a leader in the adult stem cell field and to capitalize on the increasing importance the Company believes adult stem cells will play in the future of regenerative medicine. The management and Board of Directors and Advisors of Phase III collectively have substantial experience in life science marketing, business management, and financial expertise, as well as significant technical, medical and scientific experience.
Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements concerning the Company's ability to develop the adult stem cell business, the future of regenerative medicine and the role of adult stem cells in that future, the future use of adult stem cells as a treatment option and the potential revenue growth of NeoStem's business. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Phase III Medical, Inc. ("the Company"), or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. The Company' s ability to enter the adult stem cell arena and future operating results are dependent upon many factors, including but not limited to (i) the Company's ability to obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) the Company's ability to build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control;(iv) scientific and medical developments beyond the Company's control and (v) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission which are available for review at www.sec.gov under "Search for Company Filings."
Pursuant to a July 1, 2006 agreement, Consulting For Strategic Growth I, Ltd. ("CFSG1") provides Phase III Medical (the Company) with consulting, business advisory, investor relations, public relations and corporate development services, for which CFSG1 receives a fixed monthly fee for the duration of the agreement. Independent of CFSG1's receipt of cash compensation from Phase III Medical, CFSG1 may choose to purchase the common stock of the Company and thereafter sell those shares at any time it deems appropriate to do so. For more information, please visit www.cfsg1.com.
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