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NeoStem, Inc. Announces the Redemption of the Outstanding 7% Series E Preferred Stock

Posted: Published on October 17th, 2012

NEW YORK, Oct. 17, 2012 (GLOBE NEWSWIRE) -- NeoStem, Inc. (NYSE MKT:NBS) ("NeoStem" or the "Company"), an emerging leader in the fast growing cell therapy market, today announced that it will redeem all outstanding shares of its Series E 7% Senior Convertible Preferred Stock ("Series E Preferred Stock"). On October 10, 2012, the Company gave notice to its Series E Preferred Stockholders that it is redeeming all of the outstanding shares of Series E Preferred Stock for an aggregate redemption price of $3.4 million, $2.5 million of which was funded by money placed into escrow when the Series E Preferred stock was issued in November 2010. "We are pleased that we have been able to redeem this $10 million investment in full over a two year period. Equal to our focus on cell therapy product development and expanding our PCT contract development and manufacturing operations, we are committed to improving our balance sheet. Through the redemption of the Series E Preferred Stock, we will remove a significant overhang and simplify NeoStem's capital structure. The redemption of the Series E Preferred Stock is another example of a step taken by us to improve Common Stockholder value," said Dr. Robin Smith, Chairman … Continue reading

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FDA issues warning to local stem cell company

Posted: Published on October 17th, 2012

The Food and Drug Administration has informed the Sugar Land company involved in Gov. Rick Perry's adult stem-cell procedure that it is illegally marketing an unlicensed drug. In a warning letter, the FDA gave Celltex Therapeutics Corp. 15 business days to submit a plan to address the agency's concerns, including correcting previously cited manufacturing problems. The letter said that failure to respond promptly could result in seizure or injunction by the FDA. "Based on (our) information, your product violates the Federal Food, Drug, and Cosmetic Act and the Public Health Service Act," says the letter, sent on Sept. 24 and publicly posted Tuesday. The letter comes about six months after the FDA made a 10-day inspection of the facilities where Celltex banks and grows stem cells taken from prospective patients. The agency subsequently filed a report, obtained by the Chronicle in June, detailing dozens of manufacturing deficiencies, from incorrectly labeled products to failed sterility tests. The new warning letter reiterates those problems and asks for more information about them. David Eller, Celltex's CEO, was unavailable Tuesday, but a public relations official said the company on Wednesday would make available a redacted copy of its letter to the FDA. In a … Continue reading

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FDA issues warning letter to local stem cell company

Posted: Published on October 17th, 2012

The Food and Drug Administration has informed the Sugar Land company involved in Gov. Rick Perry's adult stem-cell procedure that it is illegally marketing an unlicensed drug. In a warning letter, the FDA gave Celltex Therapeutics Corp. 15 business days to submit a plan to address the agency's concerns, including correcting previously cited manufacturing problems. The letter said that failure to respond promptly could result in seizure or injunction by the FDA. "Based on (our) information, your product violates the Federal Food, Drug, and Cosmetic Act and the Public Health Service Act," says the letter, sent on Sept. 24 and publicly posted Tuesday. The letter comes about six months after the FDA made a 10-day inspection of the facilities where Celltex banks and grows stem cells taken from prospective patients. The agency subsequently filed a report, obtained by the Chronicle in June, detailing dozens of manufacturing deficiencies, from incorrectly labeled products to failed sterility tests. The new warning letter reiterates those problems and asks for more information about them. David Eller, Celltex's CEO, was unavailable Tuesday, but a public relations official said the company on Wednesday would make available a redacted copy of its letter to the FDA. In a … Continue reading

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Stem cell doctor in court: Day 2

Posted: Published on October 17th, 2012

COLLIER COUNTY - A Southwest Florida doctor spent another day in court fighting for his right to practice medicine. Bonita Springs cardiologist Zannos Grekos' license is currently suspended because two of his patients died after undergoing a controversial stem cell procedure. Wednesday was day two of what's scheduled to be a four day trial. The courtroom was again filled with patients supporting Grekos and his stem cell treatment. This hearing focuses only on the first patient that died after getting that treatment. Her family was also in attendance and wants Grekos' medical license revoked. Dr. Richard Roland spoke about a call he got from Grekos in 2010. He had just performed a stem cell procedure on his patient Domenica Fitgzerald and something went wrong. Roland was Fitzgerald's ICU doctor. "I was quite shocked. My first comment was, 'You did what?' His response was, 'Yes. We've been having good luck with these procedures,'" Dr. Roland said. "I had concerns that this was criminal." Fitzgerald's family says the breast cancer survivor was looking for a cure for nerve damage caused by chemotherapy. They say Grekos gave her false hope. More here: Stem cell doctor in court: Day 2 … Continue reading

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Research firm reaped stem cell funds despite panel's advice

Posted: Published on October 17th, 2012

StemCells Inc. has a history not much different from those of dozens, even hundreds, of biotech companies all around California. Co-founded by an eminent Stanford research scientist, the Newark, Calif., firm has struggled financially while trying to push its stem cell products through the research-and-development pipeline. It collects about $1 million a year from licensing patents and selling cell cultures but spends well more than $20 million annually on R&D, so it runs deeply in the red. On the plus side, StemCells Inc. has had rather a charmed relationship with the California stem cell program, that $3-billion taxpayer-backed research fund known formally as the California Institute for Regenerative Medicine. The firm ranks first among all corporate recipients of approved funding from CIRM, with some $40 million in awards approved this year. That's more than has gone to such established California nonprofit research centers as Cedars-Sinai Medical Center, the Salk Institute for Biological Studies, and the Sanford-Burnham Medical Research Institute. The record of StemCells is particularly impressive given that one of the two proposals for which the firm received a $20-million funding award, covering a possible Alzheimer's treatment, was actually rejected by CIRM's scientific review panel twice. Nevertheless, the stem cell … Continue reading

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Judge Expedites Filing of Pradaxa Lawsuits for Bleeding Victims

Posted: Published on October 17th, 2012

The Pradaxa Resource Center is the Webs largest source for information on Pradaxa legal news, research and side effects. Visit http://www.Pradaxa-lawsuits.org Dallas, TX (PRWEB) October 17, 2012 The news comes after an FDA warning on December 7, 2011 that it was investigating Pradaxa after receiving more injury or death reports than expected. USA Today reported on August 19th that the FDA received 3,781 reports of side effects and 542 deaths among Pradaxa users last year, leading all other medications in 2011. Now, a federal judge overseeing Pradaxa lawsuits filed by those injured has entered an order expediting the claim filing process. On October 4, 2012, Judge David Herndon entered a Case Management Order allowing for direct filing of claims into the Pradaxa Federal MDL. http://tinyurl.com/9dfgb6f Anyone affected by internal bleeding or the loss of a loved one after using Pradaxa is urged to speak with a lawyer about their legal rights as soon as possible. Pradaxa is a popular blood thinner prescribed to prevent strokes and blood clots in patients with atrial fibrillation. According to The Wall Street Journal on April 24, 2012, Boehringer Ingelheim has earned more than $1 billion from the drug so far in more than 70 … Continue reading

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Drug showed promise in clearing drug-resistant tuberculosis

Posted: Published on October 17th, 2012

CHICAGO (Reuters) - An antibiotic used to treat severe bacterial infections showed promise at treating a highly drug-resistant and deadly form of tuberculosis, U.S. government and South Korean researchers said on Wednesday. The study, published in the New England Journal of Medicine, is the first scientifically rigorous clinical trial of Pfizer's antibiotic linezolid, or Zyvox, in patients with extensively drug-resistant TB (XDR-TB), which is resistant to at least four of the drugs most often used to treat the lung infection. Led by Clifton Barry of the National Institute of Allergy and Infectious Diseases and Sang-Nae Cho, professor of infectious diseases at Yonsei University, South Korea, the study showed the drug was effective when added to patients' current treatments. "The data that were reported are rather impressive," Dr. Anthony Fauci, director of the institute, a part of the National Institutes of Health, said in a telephone interview. However, most of the patients - 82 percent - experienced side effects while on the treatment, which tempered the findings, the team reported. "That is the bad news," Fauci said. "The somewhat encouraging news is that despite the toxicity, when the drug dose was decreased or was temporarily discontinued, the toxic side effects diminished … Continue reading

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Posted: Published on October 17th, 2012

Drug delivery research in India will advance with help from New Zealand, with the gift of a highly advanced qNano system to Prof. Rinti Banerjee from the Department of Biosciences & Bioengineering at the Indian Institute of Technology (IIT) in Mumbai. New Zealand nanotechnology company Izon Science gifted the instrument to accelerate advancement of research in the area of nanoparticles for drug delivery. . The gift recognises the path-breaking technology platform and drug delivery mechanism award winning Prof. Rinti Banerjee has developed. The qNano provides the highly accurate information required to aid development of drug delivery systems that could deliver cancer drugs directly to the tumor The qNano system was presented to Prof. Banerjee by Hans van der Voorn, the Executive Chairman of Izon Science. The function held at IIT Bombay was attended by Hon Steven Joyce, New Zealands Science and Innovation Minister, as part of his visit to India with a delegation of New Zealand education and aviation companies. Acting Director of IIT Bombay, Prof. R.K. Malik and Prof. N.S. Punekar, Head of Department of Biosciences & Bioengineering were also present at the occasion. Prof. Banerjee is the winner of numerous awards for her work including most recently the … Continue reading

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Fosamax Lawsuit Update: Next Case Management Conference in New Jersey Fosamax Side Effect Lawsuits Scheduled for …

Posted: Published on October 17th, 2012

Fosamax Lawsuits Currently Pending in New Jersey Superior Court, Atlantic County, Involve Allegations that Long-Term Use of the Drug Caused Plaintiffs to Suffer Serious Fosamax Side Effects, Including Fosamax Femur Fractures and Osteonecrosis of the Jaw (ONJ) New York, New York (PRWEB) October 17, 2012 Fosamax Side Effects Fosamax is an oral bisphosphonate used to prevent fractures in people who have bone weakening diseases like osteoporosis and Pagets disease. In October 2010, the U.S. Food & Drug Administration (FDA) warned that people taking Fosamax and other bisphosphonates for osteoporosis are at risk of suffering atypical femur fractures.** Just this past May, an FDA-commissioned analysis published in the New England Journal of Medicine found that there was little benefit in taking Fosamax and similar drugs for longer than five years. The report cited serious Fosamax side effects, including femur fractures and ONJ.*** The Fosamax lawsuits currently pending in New Jersey involve both femur fractures and ONJ. In a letter dated, June 4, 2012, Judge Carol Higbee, who is overseeing the Fosamax side effects litigation, stated her intention to schedule bellwether trials for cases involving Fosamax femur fractures. Discovery for Fosamax femur fracture lawsuits is moving forward. Bernstein Liebhard LLP is actively … Continue reading

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Epilepsy drug leads to weight loss, side effects

Posted: Published on October 17th, 2012

NEW YORK (Reuters Health) - A drug approved to prevent seizures may also help obese people lose a few pounds when it's added to therapy and nutritional guidance, a new small trial suggests. But people who took zonisamide also reported more side effects, from nausea and vomiting to anxiety and depression. And two researchers not involved in the study questioned how much the drug would actually help people in the real world. Although zonisamide is only approved by the U.S. Food and Drug Administration for seizures, doctors can prescribe it "off-label" for non-approved purposes. Prior small trials and anecdotal evidence suggested it might help heavy people shed extra pounds. "There is a little bit of weight loss with this drug when it is given for treatment of epilepsy," said lead researcher Dr. Kishore Gadde, from Duke University Medical Center in Durham, North Carolina. That could be because of its effects on serotonin and dopamine, he said. Those two neurotransmitters are known to effect motivation and reward pathways in the brain, including those related to food. Gadde said his team wanted to see if zonisamide could produce weight loss in people without epilepsy, and with the added help of a behavioral … Continue reading

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