NeoStem Raises an Additional $4 Million

NeoStem, Inc. (NBS) has raised another $4 million from institutional and private investors. The terms of the funding were the same as those for the company’s previous fund raising, an $11 million private placement in April involving three Asia-based investors.

Also, affiliates of Suzhou Erye Pharmaceuticals Company, Ltd. have increased their overall investment in NeoStem to over $1,000,000. NeoStem expects to acquire a 51% in Suzhou Erye by merging with a company that owns the 51% stake in Suzhou Erye. NeoStem plans to close the transaction, which was announced in late 2008, before the end of the year.