CRYO-CELL Affiliate Awarded Grants for Cell Therapy Research
OLDSMAR, Fla., Oct. 11 /PRNewswire-FirstCall/ — CRYO-CELL International, Inc. (BULLETIN BOARD: CCEL) (the “Company”) announced today that its affiliate, Saneron CCEL Therapeutics, Inc. (“Saneron CCEL”), has been awarded two grants to study the effects of cord blood stem cells for the treatment of myocardial infarction, commonly known as heart attack. Saneron CCEL will conduct the studies in collaboration with the University of South Florida (USF).
Saneron CCEL was awarded a STTR Phase I grant by the National Institutes of Health (NIH) in the amount of $184,249 to conduct the study. In addition, the Florida High Tech Corridor External Matching Grant provided $71,736 under their SBIR/STTR Fast-Track program. The study is specifically designed to evaluate the effects of umbilical cord blood transplantation following myocardial infarction in a large animal model. It is anticipated that the results from this study will assist in planning future preclinical studies for the determination of the appropriate dosage, route and timing of administration of cord blood as therapy for cardiac infarct recovery. The principal investigator is William G. Marshall, M.D., M.B.A., associate vice president for clinical research and venture development at USF Health.
“CRYO-CELL is pleased that our affiliate, Saneron CCEL, has received these important grants, and continues to be recognized by the NIH for their significant work,” commented Mercedes Walton, CRYO-CELL’s Chairman and CEO. “We believe that Saneron CCEL’s novel research utilizing non-controversial cord blood stem cells in large animals will pave the way for future human therapeutic application. Parents continue to be interested in scientific advancements and the development of cellular therapies for treatment of a host of diseases beyond bone marrow reconstitution. Saneron’s work is at the forefront of a new and exciting scientific frontier.”
“With the assistance of these two key grants, we are excited to continue the preclinical studies needed to move the use of cord blood stem cells for treatment of heart attacks closer to the clinic,” said Nicole Kuzmin-Nichols, VP, Business Development and Operations of Saneron CCEL.
CRYO-CELL International, Inc. owns approximately 39% equity interest in Saneron CCEL.
About CRYO-CELL International, Inc.
Based in Oldsmar, Florida, CRYO-CELL is the world’s largest U-Cord(R) stem cell banking firm, offering premium-quality, superior value cord blood preservation exclusively for the benefit of newborn babies and possibly other members of their family. With over 100,000 clients worldwide, CRYO-CELL is accredited by the AABB and believes the Company is the first private cord blood bank to operate in a newly constructed state-of-the-art current Good Manufacturing Practice and Good Tissue Practice (cGMP/cGTP)-compliant facility, well in advance of newly established Food and Drug Administration (FDA) regulation.
CRYO-CELL is a publicly traded company. OTC Bulletin Board Symbol: CCEL. Expectant parents or healthcare professionals may call 1-800-STOR-CELL (1-800-786-7235) or visit http://www.cryo-cell.com/ .
About Saneron CCEL Therapeutics, Inc.
Saneron CCEL Therapeutics, Inc. is a biotechnology R&D company focused on neurological and cardiac cell therapy for the early intervention and treatment of several devastating or deadly diseases, which lack adequate treatment options. Saneron CCEL, a University of South Florida spin-out company is located at the Tampa Bay Technology Incubator. An affiliate of CRYO-CELL International, Inc., Saneron CCEL is committed to providing readily available, non-controversial stem cells for cellular therapies and has patented and patent-pending technology relating to our platform technology of umbilical cord blood and Sertoli cells.
For further information please contact: Saneron CCEL Therapeutics Inc., Nicole Kuzmin-Nichols, MBA 3802 Spectrum Blvd., Suite 145 Tampa, FL 33612 Phone: 813-977-7664 x2 nkn@saneron-ccel.com Forward-Looking Statement
Statements wherein the terms “believes,”"intends,”"projects” or “expects” as used are intended to reflect “forward-looking statements” of the Company. The information contained herein is subject to various risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such forward-looking statements or paragraphs, many of which are outside the control of the Company. These uncertainties and other factors include any adverse effect or limitations caused by any governmental regulations, proceedings or actions, foreign and domestic; any continued or increased losses, or any inability to obtain acceptable financing, where desirable in the future, in connection with our operating or growth plans; any increased competition in our business; any decrease or slowdown in the number of people seeking to store umbilical cord blood stem cells or decrease in the number of people paying annual storage fees; the effect of any future reduced cash position and future inability to access borrowings; any adverse impacts on our revenue or operating margins due to the costs associated with increased growth in our business, including the possibility of unanticipated costs relating to the move into our new facility or the operation of the facility; any adverse developments impacting our continued relationship with and success of our licensees, foreign affiliates or investments in, or relationships with, foreign companies; any inability to achieve increases in revenue or earnings from umbilical cord blood stem cell storage; any future inability to substantially achieve the objectives expected from the successful implementation of our strategy; any decline in public market interest in the Company’s business sector; any added requirements imposed on us by new laws or SEC regulations and costs thereof; any technological breakthrough or medical breakthrough that would render the Company’s business of stem cell preservation obsolete; any material failure or malfunction in our storage facilities; any natural disaster such as a tornado, other disaster (fire) or act of terrorism that adversely affects stored specimens; the potential impact of negative market influences on the Company’s portfolio of cash, cash equivalents and marketable securities; the costs associated with defending or prosecuting litigation matters and any material adverse result from such matters; decreases in asset valuations; any continued negative effect from adverse publicity in the past year regarding the Company’s business operations; any new technology rendering the Company’s patented equipment or business obsolete; any performance failures related to the Company’s equipment or operations; any negative consequences resulting from deriving, shipping and storing specimens at a second location; any negative effect from the filed class action shareholder lawsuits; and other risks and uncertainties. The foregoing list is not exhaustive, and the Company disclaims any obligations to subsequently revise any forward-looking statements to reflect events or circumstances after the date of such statements. Readers should carefully review the risk factors described in other documents the Company files from time to time with the Securities and Exchange Commission, including the most recent Annual Report on Form 10-KSB, Quarterly Reports on Form 10-QSB and any Current Reports on Form 8-K filed by the Company.
CRYO-CELL International, Inc.
CONTACT: Francesca DeMartino, The Ruth Group, Inc., +1-646-536-7024, orfdemartino@theruthgroup.com, for CRYO-CELL International
Web site: http://www.cryo-cell.com/