Phase III Medical licensed in California to collect and store adult stem cells for autologous use

By Lisa Kerner

Charlotte, N.C., Aug. 8 - Phase III Medical, Inc. said it has received a license from the State of California Department of Health Services to operate an adult peripheral-blood stem cell bank through its subsidiary NeoStem, Inc.

Under the license, the company can begin commercial collection, processing and storage of peripheral blood progenitor cells - adult stem cells - for autologous use.

NeoStem uses the least invasive form of collection, apheresis, to extract stem cells and cryo-preserves them for future therapeutic use, according to a company news release.

"This represents the beginning of the company's plan to establish an array of centers and partnerships across the country to collect and store adult stem cells for future diagnostic and therapeutic use," chief executive officer Robin Smith said in the release.

"Regenerative medicine is offering new hope for victims of heart disease, cancer, diabetes, and similar diseases."

Phase III Medical is a New York City-based company focused on the adult stem cell field.

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