Cytomedix Inc. Re-Brands As Nuo Therapeutics
GAITHERSBURG, Md., Oct. 16, 2014 (GLOBE NEWSWIRE) -- Cytomedix (OTCQX:CMXI), a pioneer in biodynamic therapies, today announced the launch of its new corporate brand identity, Nuo Therapeutics, during The Symposium on Advanced Wound Care (SAWC) Fall Meeting, being held October 16-18, 2014 in Las Vegas, Nevada.
The Company intends to change its corporate name to Nuo Therapeutics, Inc., following shareholder approval of the name change proposal at its Annual General Meeting of the Company's shareholders on November 12, 2014.
The introduction of Nuo Therapeutics and proposed renaming of the company is seen as an important step in the strategic direction initiated by management earlier this year. In the last ten months, the company has executed a number of transactions aimed at focusing the organization exclusively on the multi-billion dollar U.S chronic wound care market. Major accomplishments include:
- Out-licensed non-strategic assets
- Closed its R&D facility
- Raised $37M to build and equip a new commercial organization
- Recruited and retained the initial members of a world-class commercial team
- Launched the newly branded wound care product Aurix™
Martin Rosendale, Chief Executive Officer of Cytomedix, commented, "The introduction of the Nuo Therapeutics corporate identity and Aurix product brand represent significant milestones in our long-term growth plan. These initiatives reflect the energy and enthusiasm within our organization and our renewed, Company-wide strategic focus on the commercial ramp of our best-in-class wound care system. We look forward to sharing details of our progress with stakeholders in the coming months as we advance the Aurix commercial roll-out and expand its footprint among target customers."
Chief Commercial Officer, Dean Tozer, added, "With the official launch of Aurix this week, we are now intently focused on growing our revenues within the 17 territories that have been created through recent additions to our direct sales organization. Our intent is to drive demand within both the hospital outpatient wound care centers and Veterans Affairs facilities. We have also expanded our clinical and reimbursement teams with key hires to further support these initiatives. We believe that the market potential for Aurix is substantial, and will seek to maximize this opportunity for the benefit of clinicians, patients, our partners and shareholders."
In conjunction with the introduction of Nuo Therapeutics and the re-launch of the Company's lead commercial product, Aurix (formerly AutoloGel), Cytomedix has launched new corporate and product websites at http://www.nuot.com and http://www.aurixsystem.com, respectively. The aforementioned shareholder vote regarding the proposed corporate name change will be held at the Company's Annual General Meeting of shareholders, taking place November 12, 2014. For additional information, please refer to the Company's definitive proxy statement, filed with the SEC on Form DEF 14A on October 1, 2014.
About Cytomedix
Cytomedix, Inc. (DBA Nuo Therapeutics) is a biomedical company that pioneers leading-edge biodynamic therapies for wound care. Cytomedix's flagship product, AutoloGel is a biodynamic hematogel that harnesses a patient's innate regenerative abilities for the management of a variety of wounds. For additional information please visit www.nuot.com.
About Aurix
Aurix is the first platelet and plasma therapy system to be cleared by the FDA for the management of ulcers and wounds of all types (diabetic foot ulcer, pressure ulcer, venous leg ulcer, etc.) and all severities (partial thickness, full thickness, and complex wounds). It can be used successfully on patients with tunneling, sinus tracts, bone and tendon exposure, and hardware exposure.
Unlike other cellular-based treatment options, Aurix is derived from a patient's own platelets and plasma (autologous). Once applied, the product goes to work, stimulating the natural healing process to form tissue to fill in wound defects and help reduce wound volume. Aurix produces visible results in days, not weeks and is effective at all stages of wound care for non-healing wounds.
Safe Harbor Statement -- Statements contained in this press release not relating to historical facts are forward-looking statements that are intended to fall within the safe harbor rule for such statements under the Private Securities Litigation Reform Act of 1995. The information contained in the forward-looking statements is inherently uncertain, and Cytomedix' actual results may differ materially due to a number of factors, many of which are beyond Cytomedix' ability to predict or control, including among many others, risks and uncertainties related to the shareholder vote at the upcoming Annual Shareholder Meeting in November 2014, including that the Company's shareholders do not vote to approve the proposed name change, the Company's ability to successfully launch and rebrand its wound care system in the timeframe and to the extent anticipated, the Company's ability to estimate the potential of the wound care market and to commercialize any of its rebranded products / therapies, successfully execute its Aurix™ (formerly AutoloGel) sales and commercialization strategies, the Company's ability to launch Aurix as expected and derive financial and commercial benefits of such launch, to achieve Aurix expected reimbursement rates in 2014 and thereafter, the Company's ability to comply with the debt covenants and restrictions under the existing loan facilities, the Company's ability to realize expected benefits from the Arthrex licensing arrangement, the Company's ability to collect the data necessary for the grant of the unconditional coverage, the Company's ability to continue in its efforts to expand in the wound care market, its ability to successfully negotiate with physician offices as anticipated and to realize the anticipated sales growth from such treatments, the likelihood of a favorable CMS determination relating to the reimbursement rates for Aurix, to successfully realize sales of the Angel Technology resulting in the royalty stream to the Company, the Company's ability to expand patient populations as contemplated, its ability to provide Medicare patients with access as expected, the Company's expectations of favorable future dialogue with potential strategic partners, and its ability to successfully manage contemplated clinical trials, to manage and address the capital needs, human resource, management, compliance and other challenges of a larger, more complex and integrated business enterprise, viability and effectiveness of the Company's sales approach and overall marketing strategies, commercial success or acceptance by the medical community, competitive responses, the Company's ability to raise additional capital and to continue as a going concern, and Cytomedix's ability to execute on its strategy to market the Aurix System™ as contemplated. To the extent that any statements made here are not historical, these statements are essentially forward-looking. The Company uses words and phrases such as "believes", "forecasted," "projects," "is expected," "remain confident," "will" and/or similar expressions to identify forward-looking statements in this press release. Undue reliance should not be placed on forward-looking information. These forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual events to differ from the forward-looking statements. More information about some of these risks and uncertainties may be found in the reports filed with the Securities and Exchange Commission by Cytomedix, Inc. Cytomedix operates in a highly competitive and rapidly changing business and regulatory environment, thus new or unforeseen risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. Except as is expressly required by the federal securities laws, Cytomedix undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason. Additional risks that could affect our future operating results are more fully described in our U.S. Securities and Exchange Commission filings, including our Annual Report for the year ended December 31, 2013, the most recent Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2014, and other subsequent public filings. These filings are available at www.sec.gov.
CONTACT: Cytomedix, Inc. Martin Rosendale, CEO Steven Shallcross, EVP/ CFO 240-499-2680 mrosendale@cytomedix.com sshallcross@cytomedix.com The Ruth Group for Cytomedix: Lee Roth (Investors) / Kirsten Thomas (Media) 646-536-7012 / 7014 lroth@theruthgroup.com / kthomas@theruthgroup.comHelp employers find you! Check out all the jobs and post your resume.