International biopharmaceutical company NeoStem announced Monday it was awarded a $700,000 contract by the U.S. Army Medical Research and Materiel Command, to advance adult stem cell therapies in treating traumatic wounds.

The contract was to evaluate the use of topically applied bone marrow-derived adult mesenchymal stem cells for rapid wound healing.

Robin Smith, board chairman and chief executive officer of NeoStem, said the company was thrilled to have the U.S. government's support to advance its technology and honored to become part of the Telemedicine and Advanced Technology Research Center’s regenerative medicine portfolio.

"It is our goal with this important project to leverage adult stem cell technology to help our soldiers avoid amputations and immobilization from injuries that they may sustain while fighting for our country," Smith said.

"Wound healing could represent just the beginning of more collaborative projects involving other clinical indications, such as spinal cord injuries and retinal damage, both of which affect American warriors who serve our country in the global war on terrorism," he added.

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