HANGZHOU, China, Aug. 11 /PRNewswire-FirstCall/ -- Cryo-Cell International, Inc. (OTC Bulletin Board: CCEL), one of the largest and most established leaders in stem cell innovation today announced that it has signed an exclusive license agreement with S-Evans Biosciences, Inc. (SEB), a privately-held stem cell and genomics technology company located near Shanghai in Hangzhou, Zhejiang Province, People's Republic of China. The partnership will allow S-Evans Biosciences to market and manufacture proprietary C'elle(SM) menstrual stem cell technology including the processing and storage of menstrual stem cells (MenSCs) exclusively throughout mainland China. It will also allow SEB to conduct scientific research studies using Cryo-Cell's proprietary C'elle(SM) menstrual stem technology to identify future potential therapeutic applications for a broad possible range of diseases that may affect millions of people. The exclusive license agreement with SEB will provide Cryo-Cell with future royalty fees from the processing and annual storage of menstrual stem cells.
SEB is a privately-held company that collaborates with several institutions including Zhejiang University; local hospitals; and Zhejiang-California International Nanosystems Institute (ZCNI), a Sino-US co-founded institute for biomedicine and nanotechnology research located on Zhejiang University campus. In addition to SEB's business plans to market and manufacture C'elle menstrual stem cells collected from women across mainland China, the company expects to offer other products and services associated with stem cell therapy; gene testing and disease diagnosis (i.e. gene chips; high throughput sequencings and standard molecular technologies). SEB expects to receive funding from private agencies and the government for stem cell research.
In recent years, China has significantly increased its efforts in the field of stem cell research and practice. Currently, scientific research in the country primarily utilizes bone marrow and embryonic stem cells. Clinical applications of stem cells to treat conditions such as acute heart failure, acute liver failure and lower limb ischemia have been reported by many hospitals. A developing country with the largest population in the world, China's estimated total population is 1.3 billion of which women account for about half. SEB believes that the future market opportunity for the C'elle service in China is potentially significant.
"Stem cell research and development is well-recognized and fast-emerging in China. SEB believes that the innovative proprietary technology of C'elle may provide women with the novel opportunity to collect and cryopreserve their own stem cells that have demonstrated considerable potential to be used in future therapies and are easily harvest from a non-controversial source," stated Dr. Charlie Xiang, CEO of S-Evans Biosciences. "Through SEB's expansive educational, scientific and medical affiliations, we anticipate that there may possibly be enormous potential opportunity to successfully market the compelling and highly differentiated quality service of C'elle. We are also eager to explore prospective opportunities with Cryo-Cell to collaborate on research and development of future potential stem cell therapies that may utilize this breakthrough technology."
"We are particularly interested in supporting research on stem cells and genomics that may contribute a great deal to improve our life quality and human health", added by Mr. Guojian Shen, chairman of the Pele Group that invested in S-Evans Biosciences.
The strategic partnership between Cryo-Cell International and S-Evans Biosciences comes at an excellent time for healthcare in China. The Chinese government has announced a new healthcare reform plan that is expected to allocate considerable resources towards stem cell research and development. The government also considers women's health an area of priority and has continued to support expansion and improvement of women's healthcare services and institutes throughout the country.
"We are both honored and excited to partner with distinguished professor and CEO Dr. Xiang and his colleagues at S-Evans Biosciences to operationalize their license of Cryo-Cell's proprietary C'elle menstrual stem cell technology. We anticipate that C'elle will provide the opportunity for women across mainland China to harvest and cryopreserve their own stem cells for potential therapeutic utilization in the future," said Mercedes A. Walton, Cryo-Cell's Chairman and CEO. "We are clearly encouraged by the overall pace of clinical advances in stem cell therapeutic development underway in China. We share SEB's belief that there may possibly be a vast pipeline of potential opportunity to collaborate on the possible development of future therapies using menstrual stem cell technology."
The C'elle service is based on Cryo-Cell's expansive patent pending IP technology portfolio and was introduced in November, 2007 as the first and only service that empowers women to collect and cryopreserve menstrual flow containing undifferentiated adult stem cells for future potential utilization by the donor or possibly first-degree relatives in a manner similar to umbilical cord blood stem cells. Based on the continued success of MenSCs in the research setting, Cryo-Cell is seeking to actively expand global C'elle technology licensing, in addition to building its portfolio of research collaborations with world renowned scientists committed to study this novel stem cell population for a broad range of regenerative therapeutic development.
About S-Evans Biosciences
Privately-held company (SEB) was registered in 2009 in Hangzhou, Zhejiang Province, People's Republic of China. Invested by the Pele Group www.pele.net.cn, SEB collaborates with ZCNI, Zhejiang University and affiliated hospitals. Products and services: processing and storage of menstrual stem cells; stem cell therapy; gene testing and disease diagnosis (gene chips, high throughput sequencing and standard molecular technologies). For more information contact: firstname.lastname@example.org.
The C'elle(SM) service was introduced in November 2007 as the first and only service that empowers women to collect and cryopreserve menstrual flow containing undifferentiated adult stem cells for future utilization by the donor or possibly their first-degree relatives in a manner similar to umbilical cord blood stem cells. For more information, visit www.celle.com.
About Cryo-Cell International, Inc. (OTCBB: CCEL.OB)
Based in Oldsmar, Florida, with nearly 185,000 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 www.cryo-cell.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 may not be developed and commercialized; or if they are not likely to be developed or 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 risks or uncertainties associated with conducting business in the People's Republic of China; any increased competition in our business; any decrease or slowdown in the number of people seeking to store stem cells or decrease in the number of people paying annual storage fees; any technological breakthrough or medical breakthrough that would render the Company's business of stem cell preservation obsolete; and any other risk factors described in our filing with the Securities and Exchange Commission. 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 also 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.
Contact: General Media Inquiries Kristin Boza 312-233-1295 Kristin.email@example.com Financial Media Inquiries: Cryo-Cell International, Inc. Investor Relations Dianne Will 518-398-6222 firstname.lastname@example.org
|SOURCE Cryo-Cell International, Inc.|
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