MacroPore Biosurgery, Inc. Changes Name to Cytori Therapeutics, Inc.
|Monday, 11 July 2005 00:00 (UTC + 2)|
San Diego, CA, July 11, 2005 -- MacroPore Biosurgery, Inc. (Frankfurt: XMP) today announced it has changed its name to Cytori Therapeutics, Inc. The change was made to better reflect the company’s focus and significant progress in the development of regenerative therapeutics. The Company will continue to trade its shares on the Frankfurt Stock Exchange under the symbol XMP. To learn more about the richest source of stem cells and Cytori’s stem cell-based regenerative therapeutics, the Company invites you to visit its new website at http://www.cytoritx.com/.
“Over the past year, our adipose stem cell development efforts have resulted in numerous scientific, intellectual property, regulatory and financial milestones, which are representative of our transition to a biotechnology company,” according to Christopher J. Calhoun, Chief Executive Officer of Cytori. “We look forward to building upon our recent success and advancing our adipose stem cell treatments into clinical trials in 2006.”
As part of this strategic reorganization, MacroPore Biosurgery will become a division of Cytori. MacroPore Biosurgery will continue to manufacture the HYDROSORB™ family of FDA-cleared bioresorbable implants as well as continue the development of the Thin Film bioresorbable implants for Senko Medical Trading Co. in Japan. Cytori will report financials for MacroPore Biosurgery as a distinct business segment that will operate the bioresorbable implants business.
About Cytori Therapeutics
Cytori Therapeutics is discovering and developing proprietary cell-based therapeutics utilizing adult stem cells derived from adipose, also known as fat tissue. The Company’s investigational therapies target cardiovascular disease, spine and orthopedic conditions, gastrointestinal disorders and new approaches for aesthetic and reconstructive surgery. To facilitate processing and delivery of adipose stem cells, Cytori is developing its proprietary Celution™ system to isolate and concentrate a patient’s own stem cells in approximately a one-hour period of time. This system will dramatically improve the speed in which individualized cell-based therapies can be delivered to patients.
About MacroPore Biosurgery, a division of Cytori Therapeutics
MacroPore Biosurgery, a division of Cytori Therapeutics, Inc., develops and manufactures innovative bioresorbable surgical implants. MacroPore Biosurgery manufactures the HYDROSORB™ family of FDA-cleared bioresorbable spine and orthopedic implants, which are distributed worldwide exclusively through Medtronic, Inc. Additionally, MacroPore Biosurgery is developing Thin Film bioresorbable implants for Senko Medical Trading Co., which has distribution rights exclusively for Japan.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking statements regarding events and trends which may affect Cytori Therapeutics’ future operating results and financial position. Such statements are subject to risks and uncertainties that could cause the Company’s actual results and financial position to differ materially. Some of these risks and uncertainties are described (under the heading “Risk Factors”) in Cytori Therapeutics’ 2004 Form 10-K annual report for the year ended December 31, 2004, which is available through the Company’s web site. MacroPore Biosurgery assumes no responsibility to update any revision of forward-looking statements to reflect events, trends or circumstances after the date they are made.