American CryoStem and Protein Genomics Sign Collaboration to Develop Stem Cell Applications for Wound Healing
April 05 2012 - 9:00AM
Marketwired
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.
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For More Information, contact: Investor Relations
American CryoStem Corporation 188 East Bergen Place, Suite 204 Red
Bank, NJ 07701 Phone:732-747-1007 www.americancryostem.com
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