Abstract: Disclosed are angiogenesis stimulatory mesenchymal-like cells derived from menstrual blood, originating from endometrium and expressing increased levels of the protein CD39 as compared to other cells found from the menstrual blood. In one embodiment, menstrual blood mononuclear cells are plated on adherent culture and allowed to grow in a manner permitting expansion of mesenchymal-like cells. Said expanded cells are selected for expression of CD39 and utilized for stimulation of angiogenesis. In other embodiments, menstrual blood derived adherent cells are cultured with platelet derived factors in order to augment angiogenic ability, directly, or through upregulation of CD39 expression.