November 13, 2008
Cytori Receives First StemSource(R) Cell Bank Order From Green Hospital Supply
Cytori (NASDAQ: CYTX) received its first order from Green Hospital Supply for a StemSource(R) Cell Bank, which will be installed in one of the leading public universities in Japan.
This is an important development for Cytori, as the cell bank will be installed at a prestigious academic hospital and will have significant visibility in the Japanese market. The size and geographic reach of the hospital will benefit a large population of patients. In addition, the hospital's well known reputation for research and patient care should facilitate additional StemSource Cell Bank sales among other prospective hospital customers in Japan.
A StemSource Cell Bank is the key to allowing hospitals to process and cryopreserve a patient's own adipose-derived stem and regenerative cells, when the cells are younger and more viable. StemSource Cell Banking services coupled with the real time Celution clinical cell therapy which is now under clinical evaluation in centers throughout the world would ultimately allow hospitals to provide a broad array of regenerative medicine services to patients and will differentiate them from other health care providers.
The foundation of the cell bank is Cytori's Celution(R) 900-MB System, which automates the processing of stem and regenerative cells from adipose tissue. This function facilitates the preparation and storage of the cells, thereby creating economic and process efficiencies that would otherwise make cell banking too expensive or time consuming.
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). The identity of the first banking customer will be publicly disclosed soon in deference to the formal announcement by the hospital itself and Green Hospital Supply. In addition, Cytori is commercializing the StemSource(R) Cell Bank directly in Europe, the Middle East and additional countries in Asia.
Cytori's (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(R) 800 System is being introduced in Europe into the reconstructive surgery market while the Celution(R) 900 System is being commercialized globally 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
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This press release includes forward-looking statements regarding events, trends and business prospects, 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 regarding the collection and results of, clinical data, dependence on third party performance, and other risks and uncertainties described under the "Risk Factors" in Cytori's Securities and Exchange Commission Filings. We assume no responsibility to update or revise any forward-looking statements to reflect events, trends or circumstances after the date they are made.