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Friday, January 21, 2011
NeoStem Inc., of New York, acquired Progenitor Cell Therapy LLC, of Allendale, N.J. Terms of the transaction were not disclosed, but NeoStem recently raised $19 million to fund the acquisition. The deal is designed to offer single source for the collection, storage, manufacturing, therapeutic development and transportation of cells for cell-based medicine and regenerative science. Investment banking firm LifeTech Capital, a division of Aurora Capital LLC, advised NeoStem by providing a valuation analysis of the transaction. (See BioWorld Today, Nov. 17, 2010.)

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