OLDSMAR, Fla., June 22, 2011 (GLOBE NEWSWIRE) -- Cryo-Cell International, Inc. (OTCQX:CCEL) (the "Company"), one of the world's largest and most established family cord blood banks and global industry leader in innovative stem cell solutions, announced today that the Company has executed an exclusive agreement to license Cryo-Cell's signature U-Cord™ and proprietary CélleSM stem cell services in Costa Rica beginning this summer. The exclusive license agreement with Stem Cells Costa Rica® will provide Cryo-Cell with an upfront license fee in addition to future fees associated with the processing and annual storage of U-Cord and Célle products.
"We are very pleased to welcome Stem Cells Costa Rica to Cryo-Cell's vast and fast-growing network of global license affiliates," stated Mercedes A. Walton, Chairman and Chief Executive Officer. "With our new partner in Costa Rica, Cryo-Cell's footprint in Latin America will span sixteen markets. We anticipate that the Company's strong global brand and well-established reputation for superior quality may significantly advance Cryo-Cell's strategic presence in the region."
Stem Cells Costa Rica is a privately held company with headquarters in the capital city of San Jose. Dr. Adriana Sánchez, MD, is a principal of the newly established company. Stem Cells Costa Rica expects to utilize their expansive professional network of medical practitioners, private and public institutions throughout the country to educate consumers on the potential benefits of cryopreserving stem cells harvested from umbilical cord blood and menstrual fluid.
"Cryo-Cell is well recognized as a global industry leader in stem cell innovation with superior quality products and services," stated Dr. Adriana Sánchez, MD. "We believe that stem cell technology has demonstrated the proven potential to save lives. Stem Cells Costa Rica is very proud and excited to become Cryo-Cell's exclusive license partner to introduce highly differentiated and competitively priced services throughout the country of Costa Rica."
Costa Rica is widely recognized as having the highest standard of living in the Central American region. The country is reported to have healthy economic growth and is one of the most stable and robust democracies in Latin America. The Costa Rican healthcare system is rated very highly on a global scale, reflective of the country's strong, universal health insurance and excellent public and private hospitals. It is reported that Costa Rica has over 70,000 births annually.
About Cryo-Cell International, Inc.
Based in Oldsmar, Florida, with over 230,000 clients worldwide, Cryo-Cell is one of the largest and most established family cord blood banks. ISO 9001:2008 certified and accredited by the AABB, Cryo-Cell operates in a state-of-the-art Good Manufacturing Practice and Good Tissue Practice (cGMP/cGTP)-compliant facility. In November 2007, the Company launched CélleSM (pronounced "C-L"), the world's first-ever commercial service allowing women to cryopreserve their own menstrual stem cells. Cryo-Cell is a publicly traded company. OTCQX Bulletin Board Symbol: CCEL. Expectant parents or healthcare professionals may call 1-800-STOR-CELL (1-800-786-7235) or visit www.cryo-cell.com .
About Célle
The CélleSM service was introduced in November 2007 as the first and only service that empowers women to collect and cryopreserve menstrual flow containing undifferentiated adult stem cells for future utilization by the donor or possibly their first-degree relatives in a manner similar to umbilical cord blood stem cells. For more information, visit www.celle.com .
Forward-Looking Statement
Statements wherein the terms "believes", "intends", "projects", "anticipates", "expects", and similar expressions as used are intended to reflect "forward-looking statements" of the Company. The information contained herein is subject to various risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such forward-looking statements or paragraphs, many of which are outside the control of the Company. These uncertainties and other factors include the success of the Company's global expansion initiatives and product diversification, the Company's actual future ownership stake in future therapies emerging from its collaborative research partnerships, the success related to its IP portfolio, the Company's future competitive position in stem cell innovation, future success of its core business and the competitive impact of public cord blood banking on the Company's business, the Company's ability to minimize future costs to the Company related to R&D initiatives and collaborations and the success of such initiatives and collaborations, the success and enforceability of the Company's Célle technology license agreements and U-Cord license agreements and their ability to provide the Company with royalty fees, the ability of Cryology RT SM S and U-Cord Plus SM to generate new revenues for the Company and those risks and uncertainties contained in risk factors described in documents the Company files from time to time with the Securities and Exchange Commission, including the most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and any Current Reports on Form 8-K filed by the Company. The Company disclaims any obligations to subsequently revise any forward-looking statements to reflect events or circumstances after the date of such statements.
Additional Information and Where To Find It
The Company will be filing documents with the SEC, including the filing by the Company of a proxy statement in connection with the 2011 annual meeting of stockholders. Stockholders are urged to read the Company's proxy statement for the 2011 annual meeting of stockholders when it becomes available, as well as other relevant documents filed by the Company with the SEC, because they will contain important information. The Company's definitive proxy statement will be mailed to stockholders of the Company. Stockholders may obtain free copies of these documents (when they are available) and other documents filed with the SEC at the Company's website (www.cryo-cell.com) under the heading "Investor Relations", the SEC's website at (www.sec.gov), or by contacting the Company at (813) 749-2100.
Information Regarding Participants
Information regarding the officers and directors of the Company is included in the Company's Annual Report on Form 10-K filed with the SEC on February 28, 2011. More detailed information regarding the identity of potential participants, and their direct or indirect interests, by securities, holdings or otherwise, will be set forth in the proxy statement and other materials to be filed by the Company with SEC in connection with the 2011 annual meeting of stockholders.