Medistem and Cytori Therapeutics Enter Into Licensing Agreement
Medistem (PINKSHEETS: MEDS), today announced that it entered into an agreement granting Cytori Therapeutics, Inc. (NASDAQ: CYTX) a license and the exclusive rights to use Medistem's U.S. Patent No. 8,241,621, "Stem Cell Mediated Treg Activation" in the United States.
The licensed patent pertains to Cytori's Adipose-Derived Regenerative Cell (ADRC) based platform for the treatment of autoimmune diseases.
"We are delighted to have formalized a licensing agreement with an adult stem cell leader like Cytori and look forward to working with them in the future," said Alan J. Lewis, Ph.D., CEO of Medistem.
"We are pleased to have licensed this patent from Medistem because it strengthens our patent portfolio in the area of immune disease," said Marc H. Hedrick, President of Cytori Therapeutics.
About Medistem, Inc.
Medistem, Inc., is focused on the development of the Endometrial Regenerative Cell (ERC), a universal donor adult stem cell product. ERCs possess specialized abilities to stimulate new blood vessel growth and can differentiate into lung, liver, heart, brain, bone, cartilage, fat and pancreatic tissue. These unique properties have applications for treatment of critical limb ischemia (CLI), congestive heart failure (CHF), neurodegenerative diseases, liver failure, kidney failure, and diabetes. ERCs have been cleared by the FDA to begin studies in the United States. In January 2012, we announced the initiation of our RECOVER-ERC (Non-Revascularizable IschEmic Cardiomyopathy treated with Retrograde COronary Sinus Venous DElivery of Cell TheRapy) Phase II clinical trial. This trial is being conducted at the Bakulev Scientific Center for Cardiovascular Surgery, Moscow, Russia. The trial is a 60 patient double blind placebo controlled study evaluating safety and efficacy of ERCs in end stage CHF patients.
Certain statements herein may be forward-looking and involve risks and uncertainties. Such forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Medistem, Inc. These can be identified by the use of forward-looking words, such as "believes", "expects", "may", "intends", "anticipates", "plans", "estimates", or any other analogous or similar expressions intended to identify forward-looking statements. These forward-looking statements and estimates as to future performance, estimates, and other statements contained herein regarding matters that are not historical facts, are only predictions and actual events or results may differ materially. We cannot assure or guarantee that any future results described in this presentation will be achieved, and actual results could differ materially as a result of a variety of factors, including the risks associated with the effect of changing economic conditions and other risk factors detailed in the Company's Securities and Exchange Commission filings. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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