NeoStem, Inc. (NeoStem) is engaged in a platform business of operating a commercial autologous (donor and recipient are the same) adult stem cell bank and in pre-disease collection, processing and long-term storage of stem cells from adult donors that they can access for their own future medical treatment. The Company manages a network of adult stem cell collection centers throughout the United States. It also entered the research and development arenas, through the acquisition of a worldwide license to an early-stage technology to identify and isolate rare stem cells from adult human bone marrow, called VSEL (very small embryonic-like) stem cells. VSELs have many physical characteristics typically found in embryonic stem cells, including the ability to differentiate into specialized cells found in substantially all the different types of cells and tissue that make up the body. In October 2009, NeoStem, Inc. completed the acquisition of China Biopharmaceuticals Holdings, Inc.