News: Portfolio 2011

NeoStem Signs Definitive Merger Agreement to Acquire Amorcyte in Equity Transaction

July 14, 2011 – NeoStem, Inc. (NYSE Amex: NBS) ("NeoStem" or the "Company"), an international biopharmaceutical company, announced the signing of a definitive merger agreement whereby NeoStem will acquire Amorcyte, Inc. ("Amorcyte"),  a  development stage cell therapy company focusing on novel treatments for cardiovascular disease. Amorcyte's lead product candidate, AMR-001, is ready to initiate a Phase II study for the  treatment of acute myocardial infarction (AMI).

 

Of the approximately 800,000 Americans who suffer an AMI each year, twenty percent or 160,000 patients remain at risk to subsequently experience progressive deterioration in heart muscle function and as a consequence, an increase in major adverse cardiac events (MACE).