Cryo-Cell Announces Research Collaboration Agreement with Saneron CCEL Therapeutics, Inc.
Pre-Clinical Studies to Commence for Neurological Diseases and Disorders
OLDSMAR, Fla., Jan. 29 /PRNewswire-FirstCall/. Cryo-Cell International Inc. (OTC Bulletin Board: CCEL) ("Cryo-Cell" or the "Company"), one of the largest and most established family cord blood banks, today announced that it has formalized a research and development agreement with Saneron CCEL Therapeutics, Inc. ("Saneron") that represents an important milestone in efforts to develop promising regenerative therapies utilizing Cryo-Cell's breakthrough C'elle(SM) (pronounced "C-L") menstrual stem cell technology. Cryo-Cell and Saneron will collaborate on research involving C'elle stem cell technology in pre-clinical models for certain neurological diseases and disorders. C'elle stem cells are derived from menstrual flow, which results from the shedding of the uterine lining (endometrium) during menstruation and contains millions of stem cells that have many properties and characteristics similar to those of both bone marrow and embryonic stem cells.
"Cryo-Cell is excited to leverage on our long relationship with Saneron, a globally recognized leader in neurological stem cell research and development, to explore utilization of C'elle menstrual stem cells in the development of potential breakthrough therapies for three very devastating disorders," stated Julie Allickson, PhD., Cryo-Cell's Vice President of Laboratory Operations and Research & Development. "We eagerly anticipate emerging research developments from Saneron related to prospective applications that may utilize the Company's novel technology and innovative proprietary service."
On November 1, 2007, Cryo-Cell announced its discovery of breakthrough menstrual stem cell technology and launched the C'elle service, the world's first-ever, exclusive service allowing women to cryopreserve their own menstrual stem cells. C'elle menstrual stem cells are adult stem cells, but they share some of the same features of embryonic stem cells in their ability to multiply rapidly and differentiate into other cell types of the body. Current research is very preliminary, but given their properties, C'elle stem cells demonstrate compelling promise to transform regenerative medicine in the coming years.
Nicole Kuzmin-Nichols, MBA, Saneron's Senior Vice President -- Corporate Development and Operations, stated, "We are very pleased to partner with Cryo-Cell to commence pre-clinical studies necessary to advance the utilization of C'elle menstrual stem cells in developing potential therapies for debilitating neurological disorders that impact millions of lives."
Under terms of the agreement, the Company will provide C'elle menstrual stem cells along with proprietary methodology associated with the technology. Saneron will provide study materials and develop research methodology for potential therapeutic applications associated with designated pre-clinical applications. Intellectual property resulting from this research collaboration will be jointly owned by the parties. Cryo-Cell owns an approximately 38% equity interest in Saneron CCEL.
About Saneron CCEL Therapeutics, Inc.
Saneron is a biotechnology R&D company focused on neurological and cardiac cell therapy for the early intervention and treatment of several devastating or deadly diseases, which lack adequate treatment options. Saneron, which is located at the Tampa Bay Technology Incubator, was a University of South Florida spin-out company and is partially owned by Cryo-Cell International, Inc. Saneron is committed to providing readily available, non-controversial stem cells for cellular therapies and has patented and patent-pending technology relating to our platform technology of umbilical cord blood and Sertoli cells.
About Cryo-Cell International, Inc.
Based in Oldsmar, Florida, with over 140,000 clients worldwide, Cryo-Cell is one of the largest and most established family cord blood banks. ISO 9001:2000 certified and accredited by the AABB, Cryo-Cell operates in a state-of-the-art Good Manufacturing Practice and Good Tissue Practice (cGMP/cGTP)-compliant facility. Cryo-Cell is a publicly traded company. OTC Bulletin Board Symbol: CCEL. For more information, please call 1-800-STOR-CELL (1-800-786-7235) or visit http://www.cryo-cell.com. For more information about C'elle visit http://www.celle.com.
Statements wherein the terms "believes", "intends", "projects" or "expects" as used are intended to reflect "forward-looking statements" of the Company. The information contained herein is subject to various risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such forward-looking statements or paragraphs, many of which are outside the control of the Company. These uncertainties and other factors include the uncertainty of market acceptance of any potential service offerings relating to types of stem cells other than cord blood stem cells, including the C'elle service, given that menstrual stem cells and other new stem cells have not yet been used in human therapies, and treatment applications using such stem cells are not likely to be developed and commercialized for many years and are subject to further research and development; the need for additional development and testing before determining the ultimate commercial value of the Company's intellectual property relating to the menstrual stem cells; the need to complete certain developments, including completion of clinical validation and testing, before any new process other than C'elle can be commercialized, and the Company's development of its final business and economic model in offering any such service; any adverse effect or limitations caused by recent increases in government regulation of stem cell storage facilities; any increased competition in our business; any decrease or slowdown in the number of people seeking to store umbilical cord blood stem cells or decrease in the number of people paying annual storage fees; any adverse impacts on our revenue or operating margins due to the costs associated with increased growth in our business, including the possibility of unanticipated costs relating to the operation of our new facility; any technological breakthrough or medical breakthrough that would render the Company's business of stem cell preservation obsolete; any material failure or malfunction in our storage facilities; any natural disaster such as a tornado, other disaster (fire) or act of terrorism that adversely affects stored specimens; the costs associated with defending or prosecuting litigation matters and any material adverse result from such matters; decreases in asset valuations; any continued negative effect from adverse publicity in the past year regarding the Company's business operations; any negative consequences resulting from deriving, shipping and storing specimens at a second location; and other risks and uncertainties. The foregoing list is not exhaustive, and the Company disclaims any obligations to subsequently revise any forward-looking statements to reflect events or circumstances after the date of such statements. Readers should carefully review the risk factors described in other documents the Company files from time to time with the Securities and Exchange Commission, including the most recent Annual Report on Form 10-KSB, Quarterly Reports on Form 10-QSB and any Current Reports on Form 8-K filed by the Company.
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SOURCE Cryo-Cell International Inc.
Released January 29, 2008