EN – Announcement of milestone payment for storing umbilical cord tissue in Serbia and launch in Switzerland

May 17, 2011 Group News

Cryo-Save Group N.V. (Euronext: CRYO, ‘Cryo-Save’, or ‘the Group’), the leading international family stem cell bank, announced today the milestone payment of €500,000 as a result of obtaining permission by the competent authorities to start the collection, processing and storing of umbilical cord tissue in Serbia.

Following the acquisition of a 70% interest in its Serbian distributor, Life R.F. doo (‘Life R.F.’) earlier this year, the Group agreed to a milestone payment of €500,000 payable to the previous shareholders upon obtaining said permission.

Furthermore, the Group has recently started to collect, process and store umbilical cord tissue samples for its Swiss customers. As a result, the Group is now able to offer the combined service of storing the umbilical cord tissue and/or stem cells derived from umbilical cord blood in all main countries where it operates.



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Enquiries

Cryo-Save Group
+ 31 (0) 575 548 998
Arnoud van Tulder, Chief Executive Officer

SPJ Financiële Communicatie (The Netherlands)
+ 31 (0)20 647 8181
Kees Jongsma/Leon Melens

Daniel Stewart & Company plc (UK)
+ 44 (0) 20 7776 6550
Christopher Theis

College Hill (UK)
+ 44 (0) 20 7457 2020
Rozi Morris/ Adrian Duffield

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