SAN DIEGO--(BUSINESS WIRE)-- Cytori Therapeutics, Inc. (NASDAQ:CYTX) has extended the term and modified the focus of its current distribution agreement with GE Healthcare. GE Healthcare’s sales rights allow its sales force to sell Cytori technology in the research markets in select European markets and the US. In turn, Cytori has co-exclusive sales rights into the research markets while retaining primary rights to sell into all clinical markets. The term of this agreement has been extended through the end of 2011.
The new terms of the distribution agreement include the following:
- Europe: GE Healthcare and Cytori share co-exclusive Celution® System and StemSource® sales rights to hospitals for research and banking and GE Healthcare will have non-exclusive rights for cosmetic and reconstructive surgery;
- North America: GE Healthcare and Cytori share co-exclusive StemSource® sales rights for research and cell banking;
- Thailand: GE Healthcare and Cytori share co-exclusive Celution® System and StemSource® sales rights for research and cosmetic and reconstructive surgery.
“Cytori’s products are a valuable component to GE Healthcare’s regenerative medicine product portfolio,” said Konstantin Fielder, general manager of Cell Technologies at GE Healthcare Life Sciences. “Continuing our relationship with Cytori reflects our recognition of this emerging field and, in particular the importance of adipose-derived regenerative cells.”
This agreement is specific to the Celution® 800 and StemSource® Systems (including next generation equivalent products) for the markets described above. The agreement does not cover any other therapeutic applications or the PureGraftTM System. Select European countries covered by these terms include the U.K., France, Germany, Norway, Finland, Denmark, Sweden, Austria and Switzerland as well as Belgium, the Netherlands and Luxembourg for research and banking only.
About Cytori
Cytori is a leader in providing patients and physicians around the world with medical technologies that harness the potential of adult regenerative cells from adipose tissue. The Celution® System family of medical devices and instruments is being sold into European and Asian hospitals and clinics for cosmetic and reconstructive surgery but is not yet available in the United States. Our StemSource® product line is sold globally for cell banking and research applications. www.cytori.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. 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 Form 10-K and 10Q. We assume no responsibility to update or revise any forward-looking statements to reflect events, trends or circumstances after the date they are made.
CONTACT:
Cytori
Tom Baker, 858-875-5258
[email protected]
KEYWORDS: United States Europe Asia Pacific North America California Thailand
INDUSTRY KEYWORDS: Stem Cells Surgery Health Biotechnology Hospitals Medical Devices Other Health Research Other Science Science
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