ALLENDALE, N.J., April 13, 2011 /PRNewswire/ -- Progenitor Cell Therapy (PCT), a wholly owned subsidiary of NeoStem, Inc. (NYSE Amex: NBS) and an internationally recognized cell therapy services and development company, announced today that it has, once again, demonstrated compliance with the FACT-JACIE International Standards for Cellular Therapy Product Collection, Processing and Administration, and has earned FACT accreditation for its processing facilities through October 19, 2013 based on inspections by FACT at PCT's facilities in Allendale, New Jersey and Mountain View, California. FACT-JACIE standards were developed in 2006 by the Foundation for the Accreditation of Cellular Therapy and the Joint Accreditation Committee of the International Society for Cellular Therapy (ISCT) and the European Group for Blood and Marrow Transplantation (EBMT).
"We recognize that clients put a great deal of trust in PCT when they share their most critical responsibilities of product manufacturing by contracting with PCT. We believe that PCT's track record of quality, timeliness and execution speaks for itself," said Dr. Robin Smith, Chief Executive Officer of NeoStem.
With plans to rapidly expand the manufacturing and storage business to drive revenues from cell therapy clients as well as internal therapeutic development, FACT accreditation for PCT is critical to promote quality medical and laboratory practice of cellular therapy through its peer-developed standards and voluntary inspection and accreditation program. Adherence to such high standards further ensures cell stability and viability and batch consistency for the development of a cell therapy product.
PCT has been FACT accredited at its Mountain View, California facility and now at its new, state-of-the-art facility located in Allendale, New Jersey. Additionally, PCT has obtained AABB accreditation in the category