You can get the class by its name using one of the following obj-c runtime functions (you may need to import the header:
id objc_lookUpClass(const char *name)
id objc_getClass(const char *name)
So your code might look like (not tested it):
NSString * className = @"TestObject";
id theObject = nil;
Class myClass = objc_lookUpClass([className UTF8String]);
if (myClass)
theObject = [[myClass alloc] init];