San Diego Business Journal 9/25/06

San Diego business journal anouncement about CHI adult stem cell center

Encinitas: Institute, Firm

To Open Stem Cell Centers

NeoStem Inc., a publicly traded company specializing in adult stem cell collection and banking service for long-term storage for therapeutic uses, has signed an agreement to open collection and storage centers nationally and internationally.

The agreement with Dr. Ron Rothenberg was announced Sept. 18. He will operate the centers in conjunction with his practice at the Encinitas-based California HealthSpan Institute. Rothenberg, a fellow of the American College of Emergency Physicians and a pioneer in anti-aging medicine, is certified by the American Board of Anti-Aging Medicine. He is an attending physician at Scripps Memorial Hospital in Encinitas.

The value of the contract was not disclosed. Patients typically are charged $6,000 to bank their stem cells and pay a yearly storage fee of $400.

NeoStem, formerly known as Phase III Medical, is based in New York City. Its shares are traded on the Over-the-Counter Bulletin Board as NEOI.OB. Shares closed Sept. 18 at 85 cents.

NeoStem recently established an adult stem cell processing laboratory and long-term storage facility at the Good Samaritan Hospital in Los Angeles, licensed by the state Department of Health Services. The company also plans to open such collection centers in locations and facilities across the nation and anticipates collaborations and partnerships with pharmaceutical firms, medical institutions and other customers that will use NeoStem technology.

Between its New York headquarters and Los Angeles lab, NeoStem has 11 employees.

— Connie Lewis