Healthcare Industry News: Olympus
News Release - July 17, 2009
Cytori's Celution(R) 700 System to be Regulated as a Medical Device by U.S. FDASAN DIEGO--(HSMN NewsFeed)--Cytori Therapeutics (NASDAQ:CYTX ) was informed by the U.S. Food and Drug Administration (FDA) that the Celution(R) 700 System will be regulated as a medical device under the Federal Food, Drug, and Cosmetic Act. This determination, in response to Cytori’s Request for Designation, clears the way for Cytori to compile and submit a marketing application to the FDA for the Celution(R) 700 System for use as a medical device in aesthetic body contouring and/or filling of soft tissue voids.
“This important decision provides greater clarity of our regulatory path in the U.S. and is consistent with our interpretation of current device regulations,” said Christopher J. Calhoun, chief executive officer for Cytori. “We are preparing for the next steps in the process of working with the FDA to determine the specific device marketing application to submit, including whether clinical evaluations will be necessary.”
Based on the jurisdictional determination from the FDA, marketing applications for the Celution(R) 700 device will be reviewed by the FDA’s Center for Biologics Evaluation and Research under the law applicable to medical devices. Clinical investigations, if required, would be conducted in accordance with the Investigational Device Exemption (IDE) regulations, not the Investigational New Drug regulations applicable to drugs and biologics.
Cytori develops and globally commercializes regenerative medicine technologies, which provide real-time, point-of-care access to clinical grade regenerative cells. Our technology is incorporated into two product families. The Celution(R)-related products are sold throughout Europe and Asia primarily into the cosmetic and reconstructive surgery market and are under evaluation by the U.S. FDA. Our StemSource(R) products are sold globally for cell banking and research applications. We are also developing additional clinical uses of our technology for the treatment of multiple medical conditions, including cardiovascular disease, urinary tract disorders, and wound related conditions. To commercialize our technology, Cytori has partnered with global and regional leaders in healthcare such as Olympus Corporation, GE Healthcare, and Green Hospital Supply. www.cytoritx.com
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking statements regarding events, trends and business prospects, which may affect our future operating results and financial position. These statements include the clarity in our regulatory path moving forward, our intention to compile and submit marketing applications to the FDA and whether any clinical evaluations or investigation will be required in connection with those applications. Such forward-looking 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.
Source: Cytori Therapeutics
Issuer of this News Release is solely responsible for its
Please address inquiries directly to the issuing company.