Cytori Recognized by Frost & Sullivan for Medical Device and Regenerative Medicine Innovation
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Cytori Recognized by Frost & Sullivan for Medical Device and Regenerative Medicine Innovation
SAN DIEGO, Feb 27, 2008 (BUSINESS WIRE) -- Frost & Sullivan awarded Cytori Therapeutics, Inc. (NASDAQ:CYTX) the 2008 North American Regenerative Medicine Technology Innovation of the Year Award and the 2008 United States Medical Device Industry Innovation & Advancement of the Year Award. The two distinct awards recognize Cytori's development and commercialization of its Celution(TM) System platform and its potential to dominate the practice of regenerative medicine.
Cytori's Celution(TM) 800 System was approved in Europe last year to process and re-infuse a patient's own adipose-derived stem and regenerative cells. The device was introduced earlier this year into the European reconstructive surgery market. Combining adipose-derived stem and regenerative cells with additional adipose tissue is believed to support tissue and graft survival. Referred to as 'Cell-Enhanced Reconstruction,' this novel procedure holds the potential to offer physicians and their patients a new and natural option to restore or augment tissue volume and shape. Clinical studies are being planned in Europe to investigate this Celution(TM) 800-assisted procedure for reconstruction of breast tissue following partial mastectomy.
"Cytori achieved the unique distinction of being recognized by two independent divisions within Frost & Sullivan this year," said Sandhya Kamath, Frost & Sullivan Research Analyst. "They are one of the pioneers in the field of regenerative medicine, which they are accomplishing through their innovative Celution(TM) System family of devices. In addition to the products they are introducing this year, Cytori's technology could potentially address a number of serious medical conditions including cardiovascular disease, orthopedic trauma, and gastrointestinal disorders."
"Cytori's goal is to enable doctors worldwide to practice regenerative medicine, namely through harnessing the natural healing ability of patients' own cells," said Christopher J. Calhoun, chief executive officer for Cytori. "Our Celution(TM) platform has the potential to accomplish this and, in contrast to many of the new drugs on the market, at affordable prices for patients."
Frost & Sullivan's Technology Innovation Award is bestowed upon a company that has pioneered the development and introduction of an innovative technology; a technology that has impacted or has the potential to impact several sectors; and is expected to bring significant contributions in adoption, change, and competitive posture. The Industry Innovation & Advancement award is bestowed upon the company that is a proven leader in the industry and that, through its pioneering technology, sound business strategy, and research efforts, has been successful in moving the state of the industry forward.
To learn more about Frost & Sullivan's Best Practices Awards, visit awards.frost.com.
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