Cytori Recognized By Frost & Sullivan For Medical Device And Regenerative Medicine Innovation

Main Category: Medical Devices
Also Included In: Public Health
Article Date: 29 Feb 2008 - 3:00 PDT

email to a friend   printer friendly   view / write opinions   rate article

Frost & Sullivan awarded Cytori Therapeutics, Inc. (NASDAQ:CYTX) the 2008 North American Regenerative Medicine Technology Innovation of the Year Award and the 2008 United States Medical Device Industry Innovation & Advancement of the Year Award. The two distinct awards recognize Cytori's development and commercialization of its Celution™ System platform and its potential to dominate the practice of regenerative medicine.

Cytori's Celution™ 800 System was approved in Europe last year to process and re-infuse a patient's own adipose-derived stem and regenerative cells. The device was introduced earlier this year into the European reconstructive surgery market. Combining adipose-derived stem and regenerative cells with additional adipose tissue is believed to support tissue and graft survival. Referred to as 'Cell-Enhanced Reconstruction,' this novel procedure holds the potential to offer physicians and their patients a new and natural option to restore or augment tissue volume and shape. Clinical studies are being planned in Europe to investigate this Celution™ 800-assisted procedure for reconstruction of breast tissue following partial mastectomy.

"Cytori achieved the unique distinction of being recognized by two independent divisions within Frost & Sullivan this year," said Sandhya Kamath, Frost & Sullivan Research Analyst. "They are one of the pioneers in the field of regenerative medicine, which they are accomplishing through their innovative Celution™ System family of devices. In addition to the products they are introducing this year, Cytori's technology could potentially address a number of serious medical conditions including cardiovascular disease, orthopedic trauma, and gastrointestinal disorders."

"Cytori's goal is to enable doctors worldwide to practice regenerative medicine, namely through harnessing the natural healing ability of patients' own cells," said Christopher J. Calhoun, chief executive officer for Cytori. "Our Celution™ platform has the potential to accomplish this and, in contrast to many of the new drugs on the market, at affordable prices for patients."

Frost & Sullivan's Technology Innovation Award is bestowed upon a company that has pioneered the development and introduction of an innovative technology; a technology that has impacted or has the potential to impact several sectors; and is expected to bring significant contributions in adoption, change, and competitive posture. The Industry Innovation & Advancement award is bestowed upon the company that is a proven leader in the industry and that, through its pioneering technology, sound business strategy, and research efforts, has been successful in moving the state of the industry forward.

To learn more about Frost & Sullivan's Best Practices Awards, visit http://www.awards.frost.com.

Cytori Therapeutics

Cytori Therapeutics' (NASDAQ:CYTX) goal is to be the global leader in regenerative medicine. The company is dedicated to providing patients with new options for reconstructive surgery, developing treatments for cardiovascular disease, and banking patients' adult stem and regenerative cells. The Celution™ 800 System is being introduced in Europe into the reconstructive surgery market while the Celution™ 900 System will be launched in Japan for cryopreserving a patient's own stem and regenerative cells. Clinical trials are ongoing in cardiovascular disease and planned for spinal disc degeneration, gastrointestinal disorders, and other unmet medical needs. http://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.

http://www.cytoritx.com