Healthcare Industry News: Olympus
News Release - January 31, 2006
Cytori Therapeutics Receives $11.0 Million Milestone Payment from Olympus-Cytori JVSAN DIEGO--(HSMN NewsFeed)--Jan. 31, 2006--Cytori Therapeutics, Inc. (NASDAQ:CYTX ; Frankfurt:XMPA ) announced today it has received the $11.0 million milestone payment from the Olympus-Cytori Joint Venture for receiving the CE Mark for the Celution(TM) System. The CE Mark grants regulatory approval for the Celution(TM) System in the European Union and other countries that recognize the CE Mark. The funds will be used primarily for the development of therapeutic applications of stem and regenerative cells from adipose tissue.
About Cytori Therapeutics
Cytori Therapeutics, Inc. (NASDAQ:CYTX ; Frankfurt:XMPA ) is discovering and developing proprietary cell-based therapeutics utilizing adult stem and regenerative cells derived from adipose tissue, also known as fat. The Company's preclinical investigational therapies target cardiovascular disease, spine and orthopedic conditions, gastrointestinal disorders, and new approaches for aesthetic and reconstructive surgery. To facilitate processing and delivery of adipose stem and regenerative cells, Cytori has developed its proprietary Celution(TM) System to isolate and concentrate a patient's own stem and regenerative cells in about an hour. This system will dramatically improve the speed in which personalized cell-based therapies can be delivered to patients.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking statements regarding events and trends which may affect Cytori Therapeutics' future operating results and financial position. Such statements are subject to risks and uncertainties that could cause the Company's actual results and financial position to differ materially. Some of these risks and uncertainties are described (under the heading "Risk Factors") in Cytori Therapeutics' Form 10-K annual report for the year ended December 31, 2004, and subsequent SEC filings, which are available through the Company's web site. Cytori Therapeutics assumes no responsibility to update or revise any forward-looking statements to reflect events, trends or circumstances after the date they are made.
Source: Cytori Therapeutics
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