ROCKVILLE, Md., Feb. 8, 2006 (PRIMEZONE) -- Cytomedix, Inc. (AMEX:GTF), a biotechnology company specializing in the research, development, licensing, and systems for treating non-healing chronic wounds including diabetic ulcers, today announced that Chairman and Chief Executive Officer Kshitij Mohan was interviewed by The Wall Street Reporter and discussed the Company's submission of a pre-market 510(k) application to the U.S. Food and Drug Administration (FDA) seeking clearance for its AutoloGel(tm) System.
During the interview, which can be accessed at www.wallstreetreporter.com, Dr. Mohan noted that, "The market for this system is huge with some five million chronic wounds a year just in the U.S., representing billions of dollars in related expense." He also spoke about the competitiveness of the AutoloGel(tm) System for treating chronic wounds as compared with other products on the market, citing its successful performance in clinical trials, its cost effectiveness and ease of use.
Dr. Mohan also discussed Cytomedix's established patent portfolio for which it has won a number of court cases and settlements. He also stated that the Company has licensed its technology to such companies as Johnson & Johnson, Medtronic, COBE Cardiovascular, Harvest Technologies, and others.
He added that licensing agreements will continue to be a key component of the Company's growth strategy.
ABOUT CYTOMEDIX
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 AutoloGel(tm), a technology that utilizes an autologous platelet gel composed of multiple growth factors and fibrin matrix. The Company has concluded the blinded, prospective, multi-center clinical trial on the use of its technology in healing diabetic foot ulcers. Additional information regarding Cytomedix is available at: http://www.cytomedix.com.
SAFE HARBOR STATEMENT
Statements contained in this press release as well as in the interview being announced 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. There is no guarantee that the FDA will complete its review within any estimated timeframe, or that the FDA will fully agree with the Company in the interpretation of the data or the regulatory pathway and provide marketing clearance. Further, there is no guarantee that the Company will receive Medicare reimbursement for AutoloGel(tm) even assuming the FDA grants the Company's request for marketing clearance. 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. Except as is expressly required by the federal securities laws, Cytomedix undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.