Cytori Completes Acquisition of Azaya Therapeutics Assets, Initiates Nanomedicine Program
February 15 2017 - 7:00AM
Cytori Therapeutics, Inc. (NASDAQ:CYTX) today announced it has
completed its acquisition of assets of privately held Azaya
Therapeutics, Inc., a leader in the research, development and
manufacturing of nanoparticle therapeutics (the “Acquisition”). The
Acquisition provides Cytori with a proprietary liposomal
nanoparticle technology platform that is intended to complement
Cytori’s leadership position in regenerative medicine and expand
its pipeline with two promising nanoparticle oncology drugs.
“This acquisition is a very important step in the development of
Cytori,” said Dr. Marc Hedrick, President and Chief Executive
Officer of Cytori. “The Acquisition provides Cytori both a near
term opportunity to seek regulatory approval in Europe for the
acquired ATI-0918 drug candidate, a generic form of nanoparticle
encapsulated doxorubicin, with the goal of launching it in Europe
as early as 2019, and bolsters Cytori’s early and intermediate
stage pipeline with new drug candidates in regenerative medicine
and oncology”.
Cytori plans to develop nanoparticle-based therapeutics under
the name Cytori Nanomedicine™ in the areas of oncology and
regenerative medicine. In addition to ATI-0918, the generic
nanoparticle encapsulated doxorubicin, Cytori has added the
clinical stage ATI-1123 drug candidate, a protein-stabilized
nanoparticle formulation of docetaxel and a preclinical stage
regenerative medicine drug candidate for scleroderma.
About Cytori Therapeutics, Inc.
Cytori is a therapeutics company developing regenerative and
oncologic therapies from its proprietary cell therapy and
nanoparticle platforms for a variety of medical conditions. Data
from preclinical studies and clinical trials suggest that Cytori
Cell Therapy™ acts principally by improving blood flow, modulating
the immune system, and facilitating wound repair. As a result,
Cytori Cell Therapy™ may provide benefits across multiple disease
states and can be made available to the physician and patient at
the point-of-care through Cytori’s proprietary technologies and
products. Cytori Nanomedicine™ is developing encapsulated therapies
for regenerative medicine and oncologic indications using
technology that allows Cytori to use the benefits of its
encapsulation platform to develop novel therapeutic strategies and
reformulate other drugs to optimize their clinical properties. For
more information, visit www.cytori.com.
Cautionary Statement Regarding Forward-Looking
Statements
This communication includes forward-looking statements regarding
events, trends and business prospects, which may affect our future
operating results and financial position. Such statements,
including, but not limited to, statements regarding: potential
regulatory approval of the ATI-0918 drug candidate in Europe;
potential commercial launch of ATI-0918 as early as 2019 and; plans
to develop nanoparticle-based therapeutics under the name Cytori
Nanomedicine in the areas of oncology and regenerative medicine,
are subject to risks and uncertainties that could cause our actual
results and financial position to differ materially. Some of these
risks and uncertainties include, but are not limited to:
unanticipated clinical, regulatory, commercial or other hurdles or
uncertainties in developing, manufacturing and commercializing the
acquired assets, including ATI-0918 and ATI-1123; any inability to
identify and realize potential synergies between Cytori’s and
Azaya’s technologies; inability to access capital to develop the
acquired assets on terms acceptable to; potential negative market
reaction to the Acquisition; unforeseen costs and expenses relating
to the acquired assets that may exert significant pressure on
Cytori’s human, technical and financial resources, including its
ability to fund development and commercialization of its clinical
pipeline, including ATI-0918 and ATI-1123; failure to find suitable
financing to operate Cytori’s business as currently contemplated
after consummation of the Acquisition; risk regarding
identification of suitable partnering candidates for ATI-0918 or
ATI-1123; technical capabilities risks, including the ability to
successfully obtain and maintain sufficient drug development and
manufacturing expertise; risks relating to review by the European
Medicines Agency (EMA) of the ATI-0918 marketing authorization
dossier and related EMA application requirements; inherent
risk and uncertainty in the conduct of clinical trials and clinical
trial results (including Azaya’s previously conducted
bioequivalence trial for ATI-0918); risks in the collection of
clinical data, final clinical outcomes risks; risks regarding
protection of intellectual property rights, including protection of
know-how and other trade secrets relating to manufacture of
ATI-0918 and ATI-1123; competitive risks, including risk associated
with commercializing a generic drug (ATI-0918) competitive with
drugs offered by potentially much larger companies with greater
technical, financial and human resources; risks regarding
dependence on third-party performance, and performance and
acceptance of Cytori’s products in the marketplace; risks regarding
Cytori’s and Azaya’s compliance with the terms and provisions the
Purchase Agreement; and other risks and uncertainties described
under the "Risk Factors" section in Cytori's Securities and
Exchange Commission Filings on Form 10-K and Form 10-Q. Cytori
assumes no responsibility to update or revise any forward-looking
statements contained in this press release to reflect events,
trends or circumstances after the date of this communication.
CYTORI THERAPEUTICS
Tiago Girao, 1.858.458.0900
ir@cytori.com
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