Cytori Therapeutics (Nachrichten/Aktienkurs) (NASDAQ:CYTX) (Frankfurt:XMPA) and Green Hospital Supply, Inc. (TYO:3360), have partnered to commercialize Cytori's StemSourceâ„¢ cell bank, which includes Cytori's Celutionâ„¢ System, to hospitals throughout Japan. The partnership marks the first commercial introduction of the Celutionâ„¢ System and will target a market opportunity estimated at more than $1 billion.
“Our StemSourceâ„¢ cell bank is a comprehensive automated platform that incorporates the Celutionâ„¢ System and related disposables to provide a turnkey stem and regenerative cell banking operation for almost any hospital or clinic in Japan,“ said Christopher J. Calhoun, CEO, Cytori Therapeutics.
Under the agreement, Green Hospital Supply will be the exclusive Japanese provider of both the StemSourceâ„¢ banking platform and the Celutionâ„¢ System for stem and regenerative cell banking. Cytori retains exclusive rights for both products in other countries. Revenues from all related product sales will be shared equally between Cytori and Green Hospital Supply.
“Stem cell banking is an underserved market in Japan, which is the second largest medical market in the world,“ said Kunihisa Furukawa, President, Green Hospital Supply. “Cytori's products coupled with Green Hospital Supply's market leadership in the supply, outfitting and management of more than 350 Japanese hospitals, makes this a compelling opportunity for both companies. We intend to begin introduction of these products by the first quarter of 2008, with a goal of installing cell banks in 250 hospitals by 2011.“
StemSourceâ„¢ Cell Bank
The StemSourceâ„¢ cell bank, which features Cytori's Celutionâ„¢ System, is designed to enable hospitals and clinics to become regenerative medicine centers able to remove, process, retrieve and store regenerative cells from a patient's adipose tissue. Once installed, the cell bank may be offered as an add-on banking procedure for hospital-admitted patients and in conjunction with surgeries.
Adipose Regenerative Cells
Adipose tissue is a rich and easily accessible source of stem and regenerative cells believed to be involved in the healing process. Scientific data shows that as the body ages, so too do one's regenerative cells. For this reason, early cell retrieval and storage may enhance their therapeutic potential.
Cytori will webcast an investor conference call today at 10 a.m. Eastern Daylight Time, in conjunction with the previously scheduled second quarter financial results conference call, to discuss the transaction. The webcast may be accessed at www.cytoritx.com.
Green Hospital Supply, Inc.
Green Hospital Supply, Inc. (TYO:3360) operates four businesses, which offer one-stop solutions for medical institutions in Japan to optimize their hospital management. The Total Pack System business offers solutions to meet the needs of clients to open, relocate, add and/or renovate hospital facilities. Green Hospital Supply continues the client relationships by selling medical practice materials and consumables after hospitals start operations (Medical Supply Business), and supplying meals and medical-related services (Health Care Business). The Company strengthens ties with its clients by making them business partners to further expand the spectrum of businesses, for example, launching dispensing pharmacies near hospitals (Health Care Business). www.ghs-inc.co.jp
Cytori Therapeutics is a global leader in the development and commercialization of regenerative medicine products. The company is developing therapeutic applications for its Celutionâ„¢ System to enable real-time regenerative cell therapy in conjunction with breast reconstruction surgery, cardiovascular disease, and other unmet medical needs. The Company's StemSourceâ„¢ Cell Bank, which is based on Cytori's innovative Celutionâ„¢ System, is being commercialized in Japan to hospitals and clinics to enable regenerative cell banking. 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.