NeoStem, Inc., an international biopharmaceutical company with operations in the U.S. and China, today announced that it has been awarded a $700,000 contract from the U.S. Army Medical Research and Materiel Command, Telemedicine and Advanced Technology Research Center (USAMRMC-TATRC) under U.S. Army Medical Research Acquisition Activity contract number: (W81XWH-10-2-0039).
This contract is for the purpose of evaluating the use of topically applied bone marrow-derived adult mesenchymal stem cells (MSCs) for rapid wound healing. The Company previously announced that this funding was included in the Department of Defense FY09 Appropriations Bill and will begin receiving funds to initiate the program in 2010.
“NeoStem is thrilled to have the United States Government’s support to advance our technology and is honored to become part of TATRC’s regenerative medicine portfolio. It is our goal with this important project to leverage adult stem cell technology to help our soldiers avoid amputations and immobilization from injuries that they may sustain while fighting for our country.
We understand the urgent need to improve regenerative medicine capabilities and reach ultimate medical solutions. Wound healing could represent just the beginning of more collaborative projects involving other clinical indications, such as spinal cord injuries and retinal damage, both of which affect American warriors who serve our country in the global war on terrorism,” said Robin Smith, M.D., Chairman of the Board and Chief Executive Officer of NeoStem.
“These federal monies will allow us to intensify our efforts to expand the potential impact of adult stem cells, including very small embryonic-like stem cells for which we have an exclusive license, in wound healing and other areas of regenerative medicine in general in an effort to improve tissue repair and decrease overall medical costs,” she continued.
Vincent Falanga, M.D., F.A.C.P., Professor, Boston University School of Medicine and Chairman and Program Director at Roger Williams Medical Center, who is to be Co-Principal Investigator for this study, endorsed Dr. Smith’s statement adding, “Adult mesenchymal stem cells (MSCs) and very small embryonic-like (VSEL) stem cells can be harvested with relative ease from individuals.
Our studies indicate that an individual’s own (autologous) stem cells can be highly successful in healing wounded tissues and in regenerative processes. Together with the wound delivery methods we have developed, these stem cells could bring about a quantum step forward in the way we treat non-healing chronic wounds and many types of injuries, both in the civilian and military population.”