ROCKVILLE, Md., Jan. 24, 2006 (PRIMEZONE) -- Cytomedix, Inc. (AMEX:GTF), the developer of the AutoloGel(tm) System for treating chronic wounds, today announced that an updated research report about the company has been prepared by Crystal Research Associates.
The research report noted that as a result of rigorous and successful clinical trials, Cytomedix plans to seek U.S. Food and Drug Administration (FDA) clearance for its patented AutoloGel(tm) System for treating non-healing chronic wounds such as diabetic foot ulcers which "would be the first blood-derived platelet releasate therapy for the treatment of wounds that has undergone such a high level of scrutiny and evaluation."
Cytomedix Chairman and Chief Executive Officer Kshitij Mohan, Ph.D., commenting on the report, said the company is planning to submit a 510k application for AutoloGel to the FDA during the first quarter of 2006. "With our proprietary AutoloGel(tm) product targeting an initial market of two million diabetics suffering from chronic foot ulcers, and a strong patent portfolio that is fueling revenue growth from licensing agreements, Cytomedix is positioning itself for future growth," Dr. Mohan stated.
In the original research report issued in September 2005, Crystal Research stated that "Cytomedix has positioned itself to expand the company's science and product portfolios through its significant patent positions and through strategic relationships. "The report noted that, "Cytomedix's key infrastructure could enable the company to become a partner of choice for biotechnology and pharmaceutical companies pursuing biological therapies."
The original research report and its update, which were paid for by the company in cash of $35,000 and 125,000 warrants, can be accessed online at www.crystalra.com or at www.cytomedix.com. Printed copies can be obtained by contacting The Wall Street Group, 32 E. 57th St., New York, NY 10022, telephone 212-888-4848.
About the Company
Cytomedix, Inc. is a biotechnology company specializing in processes and products derived from autologous platelet releasates for uses in the treatment of wounds and other applications. The current offering is the AutoloGel(tm) System, a technology that utilizes an autologous platelet gel composed of multiple growth factors and fibrin matrix. Cytomedix is working with healthcare providers to offer this advanced therapy at the point-of-care in multiple settings. Additional information is available at: http://www.cytomedix.com.
Statements contained in this press release not relating to historical facts are forward-looking statements that are intended to fall within 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, the success of new sales initiatives, 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.