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» 23/07/2009 [Company watch]
China Aoxing Pharmaceutical Corp. Receives Renewal of GMP Certification for Capsule Dosage Form of Pharmaceutical Products
» 15/03/2010 [Industry news]
Recordati S.p.A And Lee Pharmaceutical Announce Partnership For Zanidip(R) In China
» 26/10/2009 [Finance]
China Growth to Remain Fast in Fourth Quarter, Official Says
» 17/08/2009 [Industry news]
Chindex Posts Profit on Product Sales, Health Services
» 07/05/2010 [Industry news]
Hong Kong: Recall of all products manufactured by Quality Pharmaceutical Lab Ltd
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»05/07/2009 [Industry news]
NeoStem Raises an Additional $4 Million

by: ChinaBio Today July 05NeoStem, Inc. (NBS) has raised another $4 million from institutional and private investors. The terms of the funding were the same as those for the companys previous fund raising, an $11 million private placement in April involving three Asia-based investors.

 
by: ChinaBio Today NeoStem, Inc. (NBS) has raised another $4 million from institutional and private investors. The terms of the funding were the same as those for the companys previous fund raising, an $11 million private placement in April involving three Asia-based investors. Also, affiliates of Suzhou Erye Pharmaceuticals Company, Ltd. have increased their overall investment in NeoStem to over $1,000,000. NeoStem expects to acquire a 51% in Suzhou Erye by merging with a company that owns the 51% stake in Suzhou Erye. NeoStem plans to close the transaction, which was announced in late 2008, before the end of the year. NeoStem core business is adult stem cell collection and storage in the US. The company has also licensed VSEL (very small embryonic-like) stem cell technology from the University of Louisville. Investors in the funding received units, which were priced at $12.50. Each unit consists of one share of Series D Convertible Redeemable Preferred Stock, which is convertible into ten shares of common stock and ten warrants to purchase one share of common stock. The warrants have an exercise price of $2.50 and are callable by NeoStem if its common stock trades at $3.50. The terms are very favorable to investors because the deal effectively offers shares at a price of $1.25 apiece and throws in the warrants for free. NeoStem is currently trading at $1.95, down 8 cents on the session. Recently, NeoStem, announced that it in-licensed the Asia rights for Regenrexx™, a process that uses a patient’s own mesenchymal stem cells to regenerate joints and bones as an alternative to surgery. After isolating mesenchymal stem cells from bone marrow, the process cultures them for two to three weeks to increase the supply, and then injects them into joints or bones in an office procedure to aid tissue healing and restoration of bone and cartilage. The company made the deal with Regenerative Sciences, a Colorado company that developed the technology. Last month, to start is medical tourism iniaitive, NeoStem also signed an exclusive 10-year agreement with Enhance BioMedical Holdings Limited of Shanghai. Using NeoStem-developed techniques, Enhance will build a stem cell collection and treatment network. The facilities are targeted for Shanghai, Taiwan, and the provinces of Jiangsu, Zhejiang, Fujian, Anhui and Jiangxi. Jackson Ling, the CEO of Enhance BioMedical Holdings’ parent company, put $5 million into NeoStem’s April $11 million private placement. Erye Pharma, a 50-year-old company, manufactures over 100 drugs, most of them traditional Chinese medicines, on seven Good Manufacturing Practices (GMP) lines, including small molecule drugs. The company has a three-year expansion underway, which it expects to increase revenues, profits, and manufacturing capabilities. Eyre expects NeoStem will help bring new drugs to China that will increase its offerings.

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