EX-99.1
3
pressrelease_06012007.htm
CYTORI THERAPEUTICS, INC. PRESS RELEASE DATED JUNE 1, 2007
Cytori Therapeutics, Inc. press release dated June 1, 2007
Exhibit
99.1
Cytori
Divests HYDROSORB™ Surgical Implant Product Line to Kensey Nash for $3.2
million
June
1, 2007, San Diego, Calif.
- Cytori
Therapeutics (NASDAQ: CYTX; Frankfurt: XMPA) sold its HYDROSORB™ surgical
implant product line, a part of its MacroPore Biosurgery division, for $3.2
million to Kensey Nash Corporation. The line of spine and orthopedic implants
will now be manufactured by Kensey Nash and will continue to be distributed
by
Medtronic, Inc.
"We
are
very pleased to achieve this planned divestiture of the HYDROSORB™ product line,
which strategically increases Cytori's focus on the development and
commercialization of adipose-derived regenerative cell therapies", said
Christopher J. Calhoun, Chief Executive Officer for Cytori. "The divestiture
will have a favorable financial impact through reduction in operating expenses
and net operating loss. In addition, it represents our third non-core asset
sale
and brings non-dilutive cash to enable further investment into the tremendous
opportunity of regenerative medicine".
As
part
of the transaction, Kensey Nash received related manufacturing equipment and
proprietary know-how as well as ownership of regulatory filings. After a short
transition period, manufacturing of the HYDROSORB™ product line will be
commenced by Kensey Nash in their Exton, PA facility.
Cytori
Therapeutics
Cytori
Therapeutics is developing and seeks to commercialize stem and regenerative
cell
therapies for cardiovascular disease, reconstructive surgery and many other
serious, chronic, and life threatening conditions. To provide these therapies,
physicians remove a small amount of a patient's fat, also known as adipose
tissue, and run it through Cytori's Celution™ System. This System quickly
separates and concentrates stem and regenerative cells from adipose tissue
so
they may be quickly administered back to the patient about an hour later. This
system will dramatically improve the way in which personalized cell-based
therapies can be delivered to patients. 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.
Contact:
Tom
Baker; 858-875-5258; tbaker@cytoritx.com

EX - 99 . 1 3 pressrelease _ 06012007 . htm CYTORI THERAPEUTICS , INC . PRESS RELEASE DATED JUNE 1 , 2007 Cytori Therapeutics , Inc . press release dated June 1 , 2007 Exhibit 99 . 1 Cytori Divests HYDROSORB ™ Surgical Implant Product Line to Kensey Nash for $ 3.2 million June 1 , 2007 , San Diego , Calif . - Cytori Therapeutics ( NASDAQ : CYTX ; Frankfurt : XMPA ) sold its HYDROSORB ™ surgical implant product line , a part of its MacroPore Biosurgery division , for $ 3.2 million to Kensey Nash Corporation . The line of spine and orthopedic implants will now be manufactured by Kensey Nash and will continue to be distributed by Medtronic , Inc . " We are very pleased to achieve this planned divestiture of the HYDROSORB ™ product line , which strategically increases Cytori 's focus on the development and commercialization of adipose - derived regenerative cell therapies " , said Christopher J . Calhoun , Chief Executive Officer for Cytori . " The divestiture will have a favorable financial impact through reduction in operating expenses and net operating loss . In addition , it represents our third non - core asset sale and brings non - dilutive cash to enable further investment into the tremendous opportunity of regenerative medicine " . As part of the transaction , Kensey Nash received related manufacturing equipment and proprietary know - how as well as ownership of regulatory filings . After a short transition period , manufacturing of the HYDROSORB ™ product line will be commenced by Kensey Nash in their Exton , PA facility . Cytori Therapeutics Cytori Therapeutics is developing and seeks to commercialize stem and regenerative cell therapies for cardiovascular disease , reconstructive surgery and many other serious , chronic , and life threatening conditions . To provide these therapies , physicians remove a small amount of a patient 's fat , also known as adipose tissue , and run it through Cytori 's Celution ™ System . This System quickly separates and concentrates stem and regenerative cells from adipose tissue so they may be quickly administered back to the patient about an hour later . This system will dramatically improve the way in which personalized cell - based therapies can be delivered to patients . 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 . Contact : Tom Baker ; 858 - 875 - 5258 ; tbaker@cytoritx.com
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