N@N

AXcess News: Catholic Church Endorses Adult Stem Cell Research

^{Published on 2010-05-29 12:55:12 - Market Wire}
 

NEW YORK, NY--(Marketwire - May 29, 2010) - With all of the controversy surrounding stem cells, the Catholic Church has stepped forward to endorse adult stem cell research through Neostem, Inc. (AMEX: [ NBS ]), including a $1 million investment and pledge to educate priests, schools and hospitals on its benefits.

In a joint [ press conference ] in New York, the Rev. Tomasz Trafny of the Pontifical Council for Culture and Neostem CEO, Dr. Robin Smith, told reporters that the Vatican has committed $1 million for adult stem cell research. But more importantly, the Vatican is launching an education program to educate future priests about bioethics and adult stem cell research.

"This kind of research avoids a number of moral and ethical difficulties that embryonic stem cell research raises," said Rev. Trafny.

Dr. Smith stated later in a live chat with investors on [ Biomedreports.com ] that the impact of the Church's endorsement far outweighed the $1 million pledged towards the Company's research efforts.

"The initiatives the Church has proposed like teaching the VSEL technology at all Catholic schools and universities as well as at all Catholic hospitals is amazing," said Dr. Smith. "I don't know if you can even put a price tag on something like this."

The church is opposed to embryonic stem cell research because it involves the destruction of embryos, but it supports the use of adult stem cells, which are found in the bodies of all humans.

The Vatican first announced [ in late April ] that it would be endorsing adult stem cell research.

VSELs, or very small embryonic-like cells, have a leg up on the competition, making it possible to repair patients' muscles and tissues. During the press conference Tuesday, Dr. Smith said, "VSELs will be used to build new heart muscles after a heart attack, or possibly to combat a laundry list of afflictions including strokes and spinal cord injuries."

While Neostem's endorsement by the Catholic Church is seen as a breakthrough for the sector, investors are flocking to NBS' shares, pushing the stock up into the $2.80 range at the close of trading Friday.

[ Neostem was featured ] in an AXcess News story March 16th, following a 'Buy' recommendation by Roth Capital Partners in which Roth analyst Joseph Pantginis was quoted as saying, "The largest potential for Neostem's valuation upside, in our belief, comes from opportunities in the stem cell business." Roth placed a target price of $2.50 per share on Neostem at the time that story broke. During the Biomedreports.com chat on Tuesday, Dr. Smith responded to participants' questions about Neostem's future prospects saying, "we have become a therapeutic company with traditional pharma and stem cell based therapies... not bad for a year's work (smile)."

Note to Editors: "News Features" are stories provided to publishers copyright-free for print or online display at no charge. All we ask is that publishers include our byline (AXcess News) as the source, or if online, link to our Web Site: [ http://www.axcessnews.com ]. If you are interested in displaying our news on a regular basis, please contact our editorial department at: 775-461-0362 or by email at: [ editor@axcessnews.com ].