RED BANK, NJ--(Marketwire - April 05, 2012) - American CryoStem Corporation (OTCQB: CRYO) a Life Sciences company developing consumer and commercial products and services for adipose derived adult stem cell applications, and privately-held Protein Genomics (PGen), a developer and manufacturer of unique products for the biotechnology industry, announced today a collaborative agreement to develop novel cellular therapies for the wound healing, regenerative and cellular therapy markets. American CryoStem will contribute certain intellectual property, know-how and trade secrets including clinically prepared adipose derived stem cells using the Company's proprietary tissue processing and the Company's patented stromal cell culture media. PGen will contribute certain know-how and trade secrets including its patented, Elastatropin® human based protein. The Companies will initially focus their ongoing efforts towards creating applications for injuries and conditions that are difficult to treat, such as chronic, acute and traumatic wounds with estimated costs of care in excess of $35 billion per year.
"We anticipate that the combination of American CryoStem's patented technology with PGen's intellectual property will create tremendous opportunities in the medical device and wound healing markets. Our mutual goal is to create unique, high performance applications for the rapidly growing regenerative medicine market," says Burt Ensley PhD., PGen's CEO.
John Arnone, CEO of American CryoStem, stated, "Discussions have been underway for some time and this formalized collaborative agreement is Phase I of combining these two unique patented technologies. This collaboration is part of the Company's efforts to leverage its clinical laboratory processes into the cellular therapy and regenerative medicine application market. We continuously seek collaborators with patented technologies that can be combined with our clinical technologies and patented products. To encourage collaboration, our agreement is designed for both companies to share the intellectual property rights developed."
About Protein Genomics, Inc: Protein Genomics is headed by Dr. Burt Ensley, an Amgen alumni, and former Board member of the National Science Foundation's BIO Directorate. Dr. Ensley holds 19 issued patents in molecular biology. Protein Genomics produces refined biomaterials using gene synthesis, engineering design and fermentation manufacturing. Dr. Ensley is currently on the adjunct faculties of the University of Arizona and Northern Arizona University, and serves as Chairman and CEO of Dermaplus, Inc.
About American CryoStem: American CryoStem Corporation (OTCQB: CRYO) markets clinical processing services and patented products for Adipose (fat) Tissue and Adipose Derived Adult Stem Cells. The Company's clinical processing, patented cell culture media products and cellular preservation platform supports the science and regenerative medicine applications being developed globally. The Company provides the highest quality, clinically processed cells assuring their purity, viability and growth capabilities, while at the same time developing cutting edge applications, therapies and patented laboratory products and services for consumer and commercial applications.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the Company is detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.