NeoStem awarded two European patents NeoStem announced the expansion of its intellectual property protection surrounding its CD34 Cell Program in which it is developing therapeutics to address ischemia. AMR-001 is the company's most clinically advanced product candidate in its CD34 Cell Program and is being developed to treat damaged heat muscle following a heart attack. The European Patent Office has notified the company that it has granted patent numbers 1951864 and 2441461 for "Compositions and Methods of Vascular Injury Repair." These represent NeoStem's first granted European patents for its CD34 Cell Program and bring the Program's total worldwide patent coverage to 16 granted and allowed patents. NeoStem announced completion of enrollment in its Phase 2 PreSERVE AMI clinical trial in 4Q13, a randomized, double-blind placebo-controlled study testing AMR-001for the treatment of patients with left ventricular dysfunction following STEMI. Data read out is expected in 2H14 and the company expects to advance the technology into other clinical indications, such as chronic heart failure, traumatic brain injury and/or critical limb ischemia.
NeoStem spikes higher, levels to watch The shares are spiking sharply, last up more than 45% to $3.30. At that price next resistance is at the session high at $3.47 and then at $3.71. Support is at $3.17.