SAN DIEGO, Calif., May 24, 2004 (PRIMEZONE) -- Cell Bio-Systems, Inc. (Pink Sheets:CBSI), a biotechnology company seeking to manufacture and distribute patented, disposable technologies for cosmetic surgery and other living tissue procedures, has received further endorsement of its business model and market potential, according to a series of recent reports on the booming cosmetic surgery marketplace.
More than 8.7 million cosmetic or plastic surgery procedures were performed in the United States last year, up 32 percent from nearly 6.6 million in 2002 and up nearly 300 percent over the past five years, according to statistics recently released by the American Society of Plastic Surgeons (ASPS). Notably, injection procedures were the key contributors to the overall increase: the number of Botox(R) injections was up 157 percent from 2002 to 2003 and collagen injections were up 30 percent.
A new survey by the American Academy of Facial Plastic and Reconstructive Surgery (AAFPRS) adds that fat injections -- such as newly popularized procedures like "fat grafting" for aging hands -- were up 191 percent last year, while facial and neck liposuction was up 66 percent among men and 189 percent among women.
In all, American consumers spent $9.4 billion on cosmetic procedures in 2003 -- about $1 billion more than they spent at the box office -- and with new injectables, such as the recently approved Restylane(R), entering the marketplace, the AAFPRS forecasts that next year's survey findings will show an even greater percentage increase in cosmetic fillers.
"We view this new data as validation of both our business model and our marketing decision to target the cosmetic surgery marketplace first," said Marc Pilkington, president and CEO of Cell Bio-Systems. "The substantial growth in our target industry suggests there is a place in the market for our innovative product, especially now that the general public is increasingly aware and accepting of cosmetic alternatives. The number of procedures is on the rise; patients are younger, and more men are increasingly open to injection procedures."
Overall, the most common surgical procedures were liposuction, followed by breast augmentation, eyelid surgery, nose reshaping and breast reduction. Among nonsurgical procedures, Botox injections top the list, followed by microdermabrasion, collagen injections, laser hair removal and chemical peels.
Last month, Cell Bio-Systems announced the completion of its first set of production tools for the manufacture of the company' flagship instrument, the Super-Luer, a patented connection system and the centerpiece component for the company's bio-device kits utilized in procedures ranging from liposuction and fat re-injections to gene therapy technologies and stem cell research.
The Super-Luer will be adapted to manufacture the first affordable, disposable cannula. A cannula is an enclosed tubular device, currently made from stainless steel, that looks much like a large needle and has been popularized by its use to insert or extract tissue during liposuction and collagen implant procedures. Though re-sterilized, steel cannulas are reused in hundreds of procedures, typically for as long as two years or more. Despite safety concerns and complications regularly ascribed to steel cannulas, no comparable, disposable device currently exists.
"Cell Bio-Systems is developing a technology that can be used in many of the most popular cosmetic procedures, while significantly enhancing patient safety and procedural outcomes," added Pilkington. "It also will be priced affordably to ensure significant and early adoption by a large number of cosmetic surgeons."
A nationwide survey of adult consumers conducted last year by the American Society for Aesthetic Plastic Surgery (ASAPS) indicates that cosmetic surgery has become increasingly common among mainstream Americans and more widely accepted. It showed that 54 percent of respondents approved of cosmetic surgery and 24 percent (30 percent of women and 18 percent of men) said they would consider it for themselves. Additionally, about three-quarters of men and women said if they had cosmetic surgery, they wouldn't be embarrassed if others knew.
Meanwhile, in a recent New York Times article, Dr. Leroy Young, chairman of the emerging trends task force for ASAPS, was quoted as saying that surgeons are favoring nips, tucks and injections over more aggressive surgeries and indicated that operating early and often might be the new motto, further suggesting an active and receptive marketplace for Cell Bio-Systems' technology.
About Cell Bio-Systems
Based in San Diego, California, Cell Bio-Systems is the exclusive licensee of two patented syringe connection products that it plans to adapt as disposable devices for liposuction and other Living Tissue Management(TM) procedures. The company is developing an affordable, disposable product line that will fill this void in the cosmetic surgery and living tissue marketplace. The company's patented, groundbreaking technology will increase patient safety and enhance procedural outcomes. Most notably, Cell Bio-Systems devices can be adapted for a variety of procedures, ranging from fat transfers to biopsies to stem cell research. The company ultimately will develop a complete living tissue management system. For more information, please visit www.cellbiosystems.com.
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