RSSCytori Therapeutics Enters Agreement for StemSource Cell Bank
By Mike Havrilla | August 04, 2008 | 1:22 PM | 0 Comments
Cytori Therapeutics (NSDQ: CYTX) (click on name or image below for my PDF stock profile) entered into a binding letter of intent to complete a StemSource Cell Bank sales agreement with Astrea International. Astrea has committed to purchase one StemSource Cell Bank for Singapore following receipt of regulatory clearance in Singapore on a pending application on the use of the Celution System for tissue banking. In addition, Astrea has obtained rights from Cytori to commercialize additional StemSource Cell Banks in Malaysia and Brunei.
The StemSource Cell Bank is a comprehensive product offering, which allows companies or hospitals to economically process and store their clients' adipose tissue-derived stem and regenerative cells for potential future use. The foundation of the cell bank is Cytori's Celution 900 System, which automates the processing of stem and regenerative cells from adipose tissue to facilitate cryopreservation. The StemSource Cell Bank is being marketed on Cytori's behalf to hospitals in Japan, Korea, Taiwan, and Thailand exclusively by Green Hospital Supply (GHS). In addition, Cytori is commercializing the StemSource Cell Bank directly in Europe and the Middle East and additional countries in Asia.
Cytori is successfully implementing the early stages of a dual device and therapeutic commercialization strategy based on its Celution System, which transforms a patient's own fat tissue in about one hour into a regenerative cell cocktail which can be utilized for medical procedures or stored for future use. While removing a little unwanted fat from patients is a good thing in itself, Cytori also circumvents the controversy and ethical debate over embryonic stem cell research by harnessing the regenerative cells found naturally in fat tissue.
● Tom Baker - Cytori Investor Relations - 858.875.5258
● Cytori Therapeutics Fan Club Website
● Cytori Therapeutics Yahoo! Finance Stock Quote
● Cytori Therapeutics Stock Holdings Summary
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