OLDSMAR, Fla., Oct. 15, 2009 (GLOBE NEWSWIRE) -- Cryo-Cell International, Inc. (OTCBB:CCEL) ("Company"), one of the largest and most established leaders in stem cell innovation, today announced that it has signed an exclusive technology license agreement with Cryopraxis Cryobiology Ltd. ("Cryopraxis"), a privately-held global regenerative technology leader located in Rio De Janeiro, Brazil. The license agreement will allow Cryopraxis to market and manufacture proprietary C'elle(SM) menstrual stem cell technology including the processing and storage of menstrual stem cells (MenSCs) throughout Brazil. The exclusive technology license agreement with Cryopraxis is expected to provide Cryo-Cell with future royalty fees from the processing and annual storage of menstrual stem cells in Brazil.
Founded in 2001, Cryopraxis is dedicated to stem cell and tissue banking and is a global leader in cellular therapeutic development primarily utilizing stem cells harvested from bone marrow and cord blood. As the largest umbilical cord blood bank in Brazil, Cryopraxis operates one of the largest state-of-the-art cryogenic storage facilities in the world. In addition to their business plans to market and manufacture C'elle menstrual stem cells collected from women across Brazil, Cryopraxis will continue to offer their existing products and services associated with stem cell cryopreservation and breakthrough cellular therapies. Cellpraxis, the research and development entity of Cryopraxis, sponsors several projects involving cell therapy; cell manipulation; bioengineering and other related initiatives.
"Brazil is well-recognized as a global leader in stem cell research and development. Cryopraxis believes that the innovative proprietary technology of C'elle may empower women throughout the country to cryopreserve their own stem cells that have demonstrated considerable potential to be used in future therapies and are easily harvested from a non-controversial source," stated Eduardo Cruz, founder & CEO of Cryopraxis Cryobiology Ltd. "Cryopraxis has an expansive network of educational, scientific and medical affiliations. We anticipate that our well-established associations developed over many years may possibly provide significant potential opportunity to successfully market the compelling and highly differentiated C'elle service in Brazil."
In August 2009, Cryo-Cell announced the execution of a research and development collaboration agreement with Cryopraxis to conduct pre-clinical studies using the Company's proprietary C'elle(SM) technology to identify potential future diagnostic and therapeutic utilization for endometriosis and stress urinary incontinence in women. The Company believes that millions of women may potentially benefit from the affordable and non-invasive collection of these valuable stem cells today with the C'elle service for the future possible treatment of these two conditions that are painful, pervasive and costly to treat.
"Cryo-Cell is honored and excited to partner with Cryopraxis to operationalize their license of our proprietary C'elle menstrual stem cell technology in Brazil," said Mercedes A. Walton, Cryo-Cell's Chairman and CEO. "Cryopraxis has a strong and proven track record of success in stem cell banking, therapeutic development, and technology commercialization related to a broad range of clinical advances. We believe that our partnership with this global regenerative technology leader may potentially accelerate the possible development of future therapies utilizing C'elle menstrual stem cell technology."
The C'elle service is based on Cryo-Cell's expansive IP technology portfolio and 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 potential utilization by the donor or possibly first-degree relatives in a manner similar to umbilical cord blood stem cells. The C'elle service is available exclusively from Cryo-Cell; or from one of its global licensed affiliates as a standalone service, or in a "Protect Baby, Protect Mom"(SM) bundle with umbilical cord blood service. Based on the continued success of MenSCs in research settings, Cryo-Cell is seeking to actively expand global C'elle technology licensing, in addition to building its portfolio of research collaborations with world-renowned scientists committed to study this novel stem cell population for a broad range of regenerative therapeutic development.
About Cryopraxis Cryobiology Ltd.
Launched in 2001, Cryopraxis is primarily dedicated to stem cell and tissue banking. Cryopraxis is a leader in stem cell, bone marrow, cord blood research and development. Cryopraxis is committed to science, technology, good laboratory practices and provides high-quality service and care for its customers. Cryopraxis has the largest cryogenic storage facility in Brazil and one of the largest in the world. It is the largest umbilical cord blood bank in Brazil. The umbilical cord blood is a safe source of stem cells. For more information, visit www.cryopraxis.com or www.cellpraxis.com
About C'elle
The C'elle(SM) 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.
About Cryo-Cell International, Inc. (OTCBB:CCEL)
Based in Oldsmar, Florida, with nearly 185,000 clients worldwide, Cryo-Cell is one of the largest and most established family cord blood banks. ISO 9001:2000 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. Cryo-Cell is a publicly traded company. OTC Bulletin Board Symbol: CCEL. For more information, please call 1-800-STOR-CELL (1-800-786-7235), or visit www.cryo-cell.com.
Forward-Looking Statement
Statements wherein the terms "believes," "intends," "projects," or "expects" 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 uncertainty of market acceptance of any potential service offerings relating to types of stem cells other than cord blood stem cells, including the C'elle service, given that menstrual stem cells and other new stem cells have not yet been used in human therapies, and treatment applications using such stem cells may not be developed and commercialized; or if they are not likely to be developed or commercialized for many years and are subject to further research and development; the need for additional development and testing before determining the ultimate commercial value of the Company's intellectual property relating to the menstrual stem cells; the need to complete certain developments, including completion of clinical validation and testing, before any new process other than C'elle can be commercialized, and the Company's development of its final business and economic model in offering any such service; any adverse effect or limitations caused by recent increases in government regulation of stem cell storage facilities; any increased competition in our business; any decrease or slowdown in the number of people seeking to store stem cells or decrease in the number of people paying annual storage fees; any technological breakthrough or medical breakthrough that would render the Company's business of stem cell preservation obsolete; and any other risk factors described in our filing with the Securities and Exchange Commission. The foregoing list is not exhaustive, and the Company disclaims any obligations to subsequently revise any forward-looking statements to reflect events or circumstances after the date of such statements. Readers should also carefully review the risk factors described in other documents the Company files from time to time with the Securities and Exchange Commission, including the most recent Annual Report on Form 10-KSB, Quarterly Reports on Form 10-QSB and any Current Reports on Form 8-K filed by the Company.