NeoStem is focused on accelerating the development of proprietary cellular therapies and becoming a single source for collection, storage, manufacturing, therapeutic development and transportation of cells for cell based medicine and regenerative science globally. The company also has licensed various cellular therapy technologies, including worldwide exclusive licenses to a wound healing technology and to VSEL Technology which uses very small embryonic-like stem cells, which are adult stem cells that have been shown to have several physical characteristics that are generally found in embryonic stem cells. On January 19, 2011, the company acquired 100% of Progenitor Cell Therapy, a significant step in NeoStem’s goal to be a leader in the fast growing Stem Cell Industry, generating revenues and developing and licensing therapies to be used in the United States and abroad. The addition of PCT will allow NeoStem to focus on growing the cord blood and adult stem cell banking, cellular manufacturing and therapeutic business, as well as expanding their businesses in Asia and other countries, while continuing to develop out intellectual property and acquire new technology. The company expects that the over $2 million of funding expected over the next two to three years from the Department of Defense to accelerate development of stem cell technologies will be another significant catalyst to develop therapies that can be commercialized in the United States.