ROCKVILLE, Md., Oct. 25, 2004 (PRIMEZONE) -- Cytomedix, Inc. (OTCBB:CYME) today announced that it has licensed the use of its key patents related to platelet-derived therapies to Health Systems, Inc. The licensing agreement allows Health Systems to use the Cytomedix technology embodied by the patents for a variety of applications. Specific terms of the licensing agreement were not disclosed.
"The patent licensing agreement represents an excellent opportunity to allow companies such as Health Systems to develop and use platelet-based therapies for a variety of applications practiced by health care providers. Equally important, the agreement highlights the company's ongoing strategy of simultaneously conducting rigorous FDA-approved clinical studies while licensing our patents to other companies," said Kshitij Mohan, Ph.D., chief executive officer of Cytomedix.
In recent months the company has received favorable rulings from United States District Courts in Illinois and Massachusetts related to patent infringements of the company's platelet-derived therapies for treating wounds and other damaged tissue.
The company is currently conducting a FDA-approved prospective, randomized, double-blind, controlled study for the treatment of chronic diabetic foot ulcers at over a dozen premier sites throughout the United States.
"Last year our in-house physicians used platelet derived therapy and found it to have great promise in the treatment of chronic wounds of our patients. We believe that the company's intellectual property is truly innovative, having seen first hand the exciting potential of utilizing platelet releasates for chronic wound therapy. We look forward to the results from the clinical trials for specific clinical indications," said Tracey Smith, M.D., vice president of quality assurance and chief medical officer for Health Systems, Inc.
Based in Sikeston, MO., Health Systems, Inc. oversees a sizable network of nursing care facilities in the Midwest region of the country.
Cytomedix, Inc. is a biotechnology company specializing in processes and products derived from autologous platelet releasates. The company owns proprietary technology for the creation of autologous platelet gel composed of multiple growth factors and fibrin matrix. Additional information is available at the company's website at www.cytomedix.com.
Forward Looking Statements
Statements contained in this press release not relating to historical facts are forward-looking statements that are intended to fall with the safe harbor rule for such statements under the Private Securities Litigation Reform Act of 1995. The information contained in the forward-looking statements is inherently uncertain, and Cytomedix's actual results may differ materially due to a number of factors, many of which are beyond Cytomedix's ability to predict or control, including among others, governmental regulation, acceptance by the medical community and competition. These forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual events to differ from the forward-looking statements. More information about some of these risks and uncertainties may be found in the reports filed with the Securities and Exchange Commission by Cytomedix, Inc.