Cytori Receives First Celution(TM) 800 System Orders in Europe and Asia; Begins Commercialization into the Reconstructive Surgery Market
Cytori Therapeutics (NASDAQ:CYTX) received its first orders from Europe and Asia for CelutionÃ‚® 800 Systems. The devices are now being sold into the growing international reconstructive surgery market. Eleven Celution™ 800 Systems and related CT-805 single-use consumables were ordered by Cytori’s distributors MBA Grupo, who covers Spain, Italy, and Portugal, and Astrea International, who covers Singapore. The first devices are expected to be delivered in the first quarter of 2008.
“These opening orders mark a key transition for the company and its products,” said Christopher J. Calhoun, chief executive officer for Cytori. “We achieved our stated goal from last year, which was to accelerate our product introduction to early 2008 by bringing an innovative reconstructive surgery product to physicians and their patients.”
Cytori has regulatory approval for the Celution™ 800 System in Europe, is seeking clearances in Asia-Pacific, and has forged commercialization partnerships with distributors in these markets. Cytori is working with its distribution partners and physicians to educate the market about this technology in order to extend its penetration. Clinical trials are ongoing with Celution™ 800 to broaden its utility for multiple applications. The products are being manufactured at Cytori’s headquarters in San Diego, CA.
“There is strong receptivity among oncologic and reconstructive surgeons for Cytori’s Celution™ 800 System, and we are now moving forward with targeted sales,” said Paul Griffin, vice president of international sales and new business development for MBA Grupo. “This growing demand is due in part to recent reports from successful clinical reconstructive surgery cases. This product line has the potential for significant growth as it is addressing an important, unmet medical market.”
The Celution™ 800 System provides physicians with a rich source of a patient’s own adipose tissue-derived stem and regenerative cells at the bedside. When these cells are re-combined with more of a patient’s own adipose (fat) tissue in the same surgical procedure, it is referred to as cell-enhanced reconstruction.
Cytori Therapeutics’ (NASDAQ:CYTX) goal is to be the global leader in regenerative medicine. The company is dedicated to providing patients with new options for reconstructive surgery, developing treatments for cardiovascular disease, and banking patients’ adult stem and regenerative cells. The Celution™ 800 System is being introduced in Europe into the reconstructive surgery market while the Celution™ 900 System will be launched in Japan for cryopreserving a patient’s own stem and regenerative cells. Clinical trials are ongoing in cardiovascular disease and planned for spinal disc degeneration, gastrointestinal disorders, and other unmet medical needs. www.cytoritx.com
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking statements regarding events, trends and prospects of our business, which may affect our future operating results and financial position. Such statements are subject to risks and uncertainties that could cause our actual results and financial position to differ materially. Some of these risks and uncertainties include our history of operating losses, the need for further financing, regulatory uncertainties, dependence on performance of third parties, and other risks and uncertainties described (under the heading “Risk Factors”) in Cytori Therapeutics’ Form 10-K annual report for the year ended December 31, 2006. We assume no responsibility to update or revise any forward-looking statements to reflect events, trends or circumstances after the date they are made.