Cytori Therapeutics Receives CE Mark for the Celution™ Stem Cell System; Achieves Condition for $11.0 Million Milestone Payment from Olympus Collaboration
San Diego, CA, January 24, 2006 – Cytori Therapeutics, Inc. (NASDAQ: CYTX; Frankfurt: XMPA) announced today it has received the CE Mark for its Celution™ System. This approval is the first CE Mark given for a device that can process adult stem cells from adipose (fat) tissue. By achieving this regulatory approval, the Company will receive an $11.0 million milestone payment, for consideration of development activities undertaken by Cytori, from the Olympus-Cytori Joint Venture, which was formed in November 2005 as part of Cytori's regenerative medicine collaboration with Olympus Corporation.
"This is a significant achievement for Cytori and supports our global development and regulatory strategy for delivering a patient's own stem and regenerative cells in real-time," said Christopher J. Calhoun, Chief Executive Officer, Cytori Therapeutics. "We are now positioned to use the Celution™ system in clinical studies to drive market adoption and reimbursement."
The Celution™ System is designed to automate the proprietary process and methods developed by Cytori scientists to isolate and concentrate a high yield of autologous (a patient's own) stem and regenerative cells without the need for cell culture (repeated cell divisions). The Celution™ System can process whole adipose tissue into isolated and concentrated stem and regenerative cells from start to finish in approximately one hour.
European claims include the extraction, wash, and concentration of a patient's own stem cells and other associated progenitor cells from their own adipose tissue for re-implantation or re-infusion during the same surgical procedure. The regenerative (progenitor) cells are those cells within adipose tissue that can differentiate into a single tissue type, while pluripotent stem cells have the ability to differentiate into various mesenchymal lineages.
About Cytori Therapeutics
Cytori Therapeutics, Inc., (NASDAQ: CYTX; Frankfurt: XMPA) is discovering and developing proprietary cell-based therapeutics utilizing adult stem and regenerative cells derived from adipose tissue, also known as fat. The Company's preclinical investigational therapies target cardiovascular disease, spine and orthopedic conditions, gastrointestinal disorders and new approaches for aesthetic and reconstructive surgery. To facilitate processing and delivery of adipose stem and regenerative cells, Cytori has developed its proprietary Celution™ System to isolate and concentrate a patient's own stem and regenerative cells in about an hour. This system will dramatically improve the speed in which personalized cell-based therapies can be delivered to patients.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking statements regarding events and trends which may affect Cytori Therapeutics' future operating results and financial position. Such statements are subject to risks and uncertainties that could cause the Company's actual results and financial position to differ materially. Some of these risks and uncertainties are described (under the heading "Risk Factors") in Cytori Therapeutics' Form 10-K annual report for the year ended December 31, 2004 and subsequent SEC filings, which are available through the Company's web site. Cytori Therapeutics assumes no responsibility to update or revise any forward-looking statements to reflect events, trends or circumstances after the date they are made.
Contact:
Tom Baker
Investors
Tel. 858-875-5258
tbaker@cytoritx.com
Amy Beltran, Ph.D.
Media (Porter Novelli Life Sciences)
Tel. 858-527-3489
abeltran@pnlifesciences.com |
