Cytori Therapeutics, Inc
Cytori Therapeutics, Inc: Cytori Divests HYDROSORB™ Surgical Implant Product Line to Kensey Nash for $3.2 million
Cytori Therapeutics, Inc. / Miscellaneous
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
———————————————————————-
Cytori Therapeutics (NASDAQ: CYTX; Frankfurt: XMPA) sold its HYDROSORB™
surgical implant product line, a part of its MacroPore Biosurgery division,
for $3.2 million to Kensey Nash Corporation. The line of spine and
orthopedic implants will now be manufactured by Kensey Nash and will
continue to be distributed by Medtronic, Inc.
As part of the transaction, Kensey Nash received related manufacturing
equipment and proprietary know-how as well as ownership of regulatory
filings. After a short transition period, manufacturing of the HYDROSORB™
product line will be commenced by Kensey Nash in their Exton, PA facility.
—————————————————————————
Information and Explaination of the Issuer to this News:
‘We are very pleased to achieve this planned divestiture of the HYDROSORB™
product line, which strategically increases Cytori’s focus on the
development and commercialization of adipose-derived regenerative cell
therapies,’ said Christopher J. Calhoun, Chief Executive Officer for
Cytori. ‘The divestiture will have a favorable financial impact through
reduction in operating expenses and net operating loss. In addition, it
represents our third non-core asset sale and brings non-dilutive cash to
enable further investment into the tremendous opportunity of regenerative
medicine.’
DGAP 01.06.2007
———————————————————————-
Language: English
Issuer: Cytori Therapeutics, Inc.
6740 Top Gun Street
92121 San Diego, CA Vereinigte Staaten von Amerika
Phone: 001-858 / 736 5485
Fax: 001-858 / 458 0994
E-mail: sbacher@cytoritx.com
www: www.cytoritx.com
ISIN: US23283K1051
WKN: A0ETV6
Indices: PRIMEALL, TECHALLSHARE
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin-Bremen, Stuttgart, München, Düsseldorf
End of News DGAP News-Service
—————————————————————————
Latest News
Latest Reports
Upcoming Events
No Events found