SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date of
Report (Date of earliest event reported): May 18, 2010
NEOSTEM,
INC.
(Exact
Name of Registrant as Specified in Charter)
|
Delaware
(State
or Other Jurisdiction of
Incorporation)
|
0-10909
(Commission
File
Number)
|
22-2343568
(IRS
Employer
Identification
No.)
|
420 Lexington Avenue, Suite
450, New York, New York 10170
(Address
of Principal Executive Offices)(Zip Code)
(212)
584-4180
Registrant's
Telephone Number
Check
the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2.
below):
[ ]
Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
[ ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[
] Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[
] Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item
7.01 Regulation FD
Disclosure
On May 18, 2010, NeoStem, Inc., a
Delaware corporation (the “Company”), issued a press release pursuant to which
the Company provided an update on its majority-owned pharmaceutical subsidiary,
Suzhou Erye Pharmaceuticals Company Ltd., following the end of the first quarter
of the year ending December 31, 2010. A copy of the press release is
being furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The
information in this Current Report on Form 8-K under Item 7.01 is being
furnished pursuant to Item 7.01 of Form 8-K. In accordance with
General Instruction B.2 of Form 8-K, the information in this Current Report on
Form 8-K, including, without limitation, Exhibit 99.1, shall not be deemed
"filed" for the purposes of Section 18 of the Securities Exchange Act of 1934,
as amended, or otherwise subject to the liabilities of that
section. The information in this Current Report on Form 8-K,
including, without limitation, Exhibit 99.1, shall not be incorporated by
reference into any filing or other document pursuant to the Securities Act of
1933, as amended, except as shall be expressly set forth by specific reference
in such filing or document.
Forward Looking
Statements
This
Current Report on Form 8-K, including Exhibit 99.1, contains forward-looking
statements made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements typically
are identified by use of terms such as "may," "will," "should," "plan,"
"expect," "anticipate," "estimate" and similar words, although some
forward-looking statements are expressed differently. Forward-looking
statements represent our management's judgment regarding future
events. Although the Company believes that the expectations reflected
in such forward-looking statements are reasonable, the Company can give no
assurance that such expectations will prove to be correct. All
statements other than statements of historical fact included in this Current
Report on Form 8-K are forward-looking statements. The Company cannot
guarantee the accuracy of the forward-looking statements, and you should be
aware that the Company's actual results could differ materially from those
contained in the forward-looking statements due to a number of factors,
including the statements under "Risk Factors" contained in the Company's reports
filed with the Securities and Exchange Commission.
Item
9.01. Financial
Statements and Exhibits.
|
(d)
|
Exhibits | |
| Exhibit No. | Description | |
|
|
99.1
|
Press
Release, dated May 18, 2010 (Exhibit 99.1 is furnished as part of this
Current Report on Form 8-K).
|
2
SIGNATURE
Pursuant to the requirements of the
Securities Exchange Act of 1934, NeoStem has duly caused this Report to be
signed on its behalf by the undersigned hereunto duly
authorized.
|
NEOSTEM,
INC.
|
|||
|
|
By:
|
/s/ Catherine M.
Vaczy
|
|
|
Name: Catherine
M. Vaczy
|
|||
|
Title: Vice
President and General Counsel
|
|||
Date: May 18, 2010
3
FINAL
|
NeoStem,
Inc.
|
CCG
Investor Relations, Inc.
|
|
Robin
Smith, CEO
|
Lei
Huang, Account Manager
|
|
Phone:
+1 (212) 584-4174
|
Phone:
+1 (646) 833-3417
|
|
E-mail:
rsmith@neostem.com
|
E-mail:
lei.huang@ccgir.com
|
|
http://www.neostem.com
|
http://www.ccgirasia.com
|
|
Crocker
Coulson, President
|
|
|
Phone:
+1 (646) 213-1915
|
|
|
E-mail:
crocker.coulson@ccgir.com
|
NeoStem
Provides Update on its Pharmaceutical Subsidiary Suzhou Erye
NEW YORK,
May 18, 2010 – NeoStem, Inc. (NYSE Amex: NBS) (“NeoStem” or the “Company”), an
international biopharmaceutical company with operations in the U.S. and China,
provided an update on its majority-owned pharmaceutical subsidiary Suzhou Erye
(Erye) following the first quarter and an outlook for the year.
Erye
began relocation of its operations to its new state-of-the-art manufacturing
facility with the State Food and Drug Administration (SFDA) approval of two
production lines at the new plant. Expanded capacity at the new plant will
enable Erye to increase its product supply to meet the rising demand in China’s
growing pharmaceutical market. Transition to the new facility is on track to
complete by 2011 and is expected to significantly expand Erye’s manufacturing
capacity.
Erye’s
development pipeline continues to advance, including SFDA approval to
manufacture the sterile active pharmaceutical ingredient of the anti-infective
cloxacillin sodium. This new product and the SFDA approved omeprazole for GERD
are pending commercialization during the summer of 2010 and are expected to
generate additional growth opportunities in the second half of the year. Erye
has an additional five products in its pipeline and is working with NeoStem to
evaluate opportunities to in-license or acquire new drug opportunities to
enhance the long-term growth potential.
“We are
proud of Erye’s many accomplishments to-date and believe the business is well on
the way to executing the 2010 growth plan. First quarter revenues
rose 24% over the same period last year to approximately $15.8 million,” said
Robin Smith, M.D., NeoStem’s CEO and Chairman of the board of directors. “We
continue to focus on helping Erye to accelerate its growth potential in China,
including sourcing potential new drug deals and capitalizing on the country’s
unprecedented healthcare reform.”
About
NeoStem, Inc.
NeoStem,
Inc. is engaged in the development of stem cell-based therapies, pursuit of
anti-aging initiatives and building of a network of adult stem cell collection
centers in the U.S. and China that are focused on enabling people to donate and
store their own (autologous) stem cells for their personal use in times of
future medical need. The Company also has licensed various stem cell
technologies, including a worldwide exclusive license to VSEL(TM)
technology which uses very small embryonic-like stem cells, shown to have
several physical characteristics that are generally found in embryonic stem
cells, and is pursuing the licensing of other technologies for therapeutic use.
NeoStem’s majority-controlled Chinese pharmaceutical operation, Suzhou Erye,
manufactures and distributes generic antibiotics in China. For more information,
please visit: www.neostem.com.
FINAL
Forward-Looking
Statements
This
press release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking statements
reflect management's current expectations, as of the date of this press release,
and involve certain risks and uncertainties. Forward looking statements include
statements herein with respect to the successful execution of the Company’s
strategy, accelerating Erye’s sales growth in 2010 and successful transfer of
Erye’s production lines to the new facility, about which no assurances can be
given. The Company's actual results could differ materially from those
anticipated in these forward- looking statements as a result of various factors.
Factors that could cause future results to materially differ from the recent
results or those projected in forward-looking statements include the "Risk
Factors" described in the Company's Annual Report on Form 10-K filed
with the Securities and Exchange Commission on March 31, 2010 and Quarterly
Report on Form 10-Q filed with the Securities and Exchange Commission on May 17,
2010, as well as other periodic filings made with the Securities and Exchange
Commission. The Company's further development is highly dependent on future
medical and research developments and market acceptance, which is outside its
control.
###