Cryo-Save on track to launch Cryo-Lip® in the U.S.
Cryo-Save Group N.V. (Euronext: CRYO, ‘Cryo-Save’, or ‘the Group’), the leading international family stem cell bank, announces that it has incorporated a wholly owned subsidiary in Delaware, USA. The subsidiary is called Cryo-Save USA, Inc. and will commercialize and further develop the Cryo-Lip® service in North America. Cryo-Lip® allows adults to store stem cells from fat tissue which is extracted whilst undergoing other surgical procedures.
Preparations towards a full launch of this service in the US are on schedule and Cryo-Save expects to store its first commercial US samples in Q3 2011.
Cryo-Save USA has already entered into an agreement with General BioTechnology LLC (“GBT”) in Indianapolis. GBT is a FDA and AABB (American Association of Blood Banks) accredited stem cell bank and will be the strategic partner responsible for processing and the long-term cryogenic storage of stem cells from fat tissue.
In order to maintain Cryo-Save’s reputation for adhering to the highest scientific and quality standards, a validation study for Cryo-Lip® has been initiated in the US. Adipose (fat) tissue samples are collected from clinics and the quality and quantity of adipose-derived stem cells are analyzed following processing and cryopreservation.
Arnoud van Tulder, Chief Executive of Cryo-Save commented:
We are excited about the progress made so far in the US and the opportunity for us to gain a leading position in adult stem cell storage in the US as well as in Europe.
Our partnership with GBT will ensure that our work in the US meets Cryo-Save’s renowned high standards and our focus now will be on creating a strong commercial network.
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Arnoud van Tulder, Chief Executive Officer
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