NeoStem's subsidiary makes key additions to management team

NeoStem (AMEX:NBS) said on Wednesday that its unit Progenitor Cell Therapy (PCT) added some new additions to its management team tied to its contract development and manufacturing activities.

Timothy Fong, who holds an MBA, will join Progenitor Cell Therapy as vice president of technology and development.

Fong brings significant experience from his previous role as technical director of the cell therapy team BD Biosciences, where he was responsible for the development and manufacturing of conjugated anti body re-agents used in cell sorting for clinical therapeutic products.

Prior to that, Fong led a team at BD Biosciences to develop a T regulatory cell product for treatment of autoimmune diseases. The technology has since been licensed by NeoStem’s Athelos subsidiary.

T regulatory cells are a component of the immune system that suppress immune responses of other cells, and come from progenitor cells in the bone marrow.

Recently, David O'Neil – formerly of New York University Medical Centre – was appointed director of research and development for the company.

While at New York University Medical Centre, O'Neil led the design, construction and validation of an aseptic facility at the New York Cancer Institute. In addition, he also led a pre-clinical development of manufacturing, quality assurance as well as immune monitoring work for a novel cell immunotherapy for malignant skin cancers.

NeoStem’s CEO Robin Smith, said: "Our acquisition of PCT is proving to be not only accretive but also generating cost savings for NeoStem while accelerating our mission to be a global leader in cell therapy."
 
"These key additions will add to our reputation in the industry as the "go-to" company to enable effective development and manufacturing of cellular therapeutics for our expanding client base."

NeoStem, who runs operations in China and the US, concentrates on the development of cellular therapies and becoming a source for the collection, storage, manufacturing and transportation of stem cells.

The company also holds a 51 percent stake in a Chinese generic pharmaceutical manufacturing company.