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Cytori Closes First Half of $12 Million Equity Agreement With Green Hospital Supply

Posted on: Friday, 29 February 2008, 15:00 CST

Cytori Therapeutics (NASDAQ: CYTX) closed the first half of its $12 million equity agreement with Green Hospital Supply, Inc. (TOKYO: 3360), which the companies entered into on February 8, 2008. Under this agreement, Green Hospital Supply committed to purchase 2.0 million shares of unregistered common stock at $6.00 per share and will be granted a non-voting observer seat on Cytori's board of directors.

Per the amended, binding closing conditions, agreed upon by Cytori and Green Hospital Supply, Cytori yesterday received the first $6.0 million payment from Green Hospital Supply in exchange for issuing the first 1.0 million shares of unregistered Cytori common stock. On or before April 30, 2008, Cytori will receive a second $6.0 million payment and issue Green Hospital Supply another 1.0 million shares of unregistered Cytori common stock.

Cytori Therapeutics

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.

Source: Business Wire

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