NeoStem receives over $1.78m to fund osteoporosis treatment research

NeoStem (AMEX:NBS) announced Monday it received over $1.78 million from the Department of Defense Peer-Reviewed Medical Research Program, to support the company's VSEL Technology-based treatment of osteoporosis.
Osteoporosis is a disease characterized by low bone density and deterioration of bone tissue. This often leads to fragile bones and a heightened risk of fracture, especially of the hip, spine and wrist, and especially in the aging population.
NeoStem's VSEL technology uses very small embryonic like (VSEL) stem cells, which, as its name suggests, have several characteristics typically found in embryonic stem cells.
These cells are able to differentiate into specialized cells and tissues throughout the body, improving the diagnosis and treatment of many common diseases and conditions.
The award, which was granted under NeoStem's Technology/Therapeutic Development award application, submitted in 2010, will fund research testing the use of VSEL stem cells to regenerate and rebuild the strength of bones in patients suffering from osteoporosis.
"The receipt of this grant award validates our research efforts and the promise of VSEL Technology in multiple clinical applications," said CEO Robin Smith.
"Awards such as these provide both non-dilutive capital and offer external peer-reviewed validation of the value of our research platform."
Affecting over 75 million people across the globe, osteoporosis cost the healthcare system an estimated $19 billion in 2005. That number is expected to rise to $25 billion by 2025.
"In addition to being a major concern for the general healthcare community, osteoporosis and related bone fractures have become a concern for the military with significant loss of duty time across all branches of the military due to related stress fractures," said Dr. Russell Taichman, a professor of dentistry at the University of Michigan, who worked with NeoStem on the original study.