Back in March of this year the Vatican invested a million in the company and you can also read about Neostem acquiring Progenitor earlier this year as well. NeoStem acquired 51% of Suzhou Erye Pharmaceuticals in China, which produces a series of antibiotics, including penicillin and cephlasporins.
The conference is being held at the Vatican and that in itself shows a change or reverse in what has been prohibited before, so ideas and being explored and talked about and with the Vatican having an investment now you can bet they will be following through. The realization of saving lives through stem cells has arrived in Rome. BD
VATICAN CITY (AP) -- The Vatican has entered into an unusual partnership with a small U.S. biotech company to promote using adult stem cells for treating disease, rather than focusing research on embryonic stem cells.
The Vatican's culture office and NeoStem Inc., on Tuesday provided details for this week's conference at the Vatican on adult stem cells, which will draw scientists, patients, biotech CEOs and cardinals together.
Church teaching holds that life begins at conception. As a result, the Vatican opposes embryonic stem cell research because embryos are destroyed in the process.
The conference and partnership with New York-based NeoStem is part of the Vatican's recent $1 million, five-year initiative to promote adult stem cell therapies and research, and in the process shift popular attention away from embryonic research.