Galapagos NV: business update: http://t.co/6w1jppWE
posted 4 days ago
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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".
Cryo-Save, the leading international family stem cell bank, already stores 175,000 samples from cord blood and umbilical cord tissue for newborns and adipose tissue for adults. These stem cells can mean the difference between life and death in the case of future threats to the health of the donors. There are already several diseases that can be cured by the use of stem cells, and the number of treatments will only increase. Driven by its international business strategy, Cryo-Save is now represented in 40 countries on three continents, with ultra-modern processing and storage facilities in Belgium, Germany, Dubai, India and France (validation in progress).
Source: Cryo-Save Group
Tags: new products
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