ORANGEBURG, N.Y., April 20, 2009 (GLOBE NEWSWIRE) -- Core Dynamics announced today that it has recently closed on a new financing round of US$17.9 million. The new financing came from institutional and private investors and will provide the necessary capital to realize both its short and long term strategic plans.
"This new capital coupled with the recent development of a new process for freeze drying human stem cells to be stored at room temperature will provide the company with a significant platform for growth," stated Sachi Norman, CEO of Core Dynamics.
"Core Dynamics has primarily focused on only a small segment of the cell therapy market with a very specific product. Having these funds will now allow us to increase our sales footprint both in and outside the U.S. as well as bring new products to market that will appeal to a broader range of customers," said Revital Rodovsky, CFO.
For more information about MTG technology visit Core Dynamics at booth #3747 at the BIO 2009 international meeting.
About Core Dynamics
Core Dynamics, with offices in New York and research and development facilities in Ness Ziona, Israel, is a pioneering biotechnology company focused on advanced cell preservation technologies. Core Dynamics will revolutionize the fields of cell therapy and transfusion medicine by dramatically enhancing product stability and providing new clinical applications not possible with conventional technology. Additional information can be found at www.coredynamics.com.
Forward-Looking Statements
This press release contains forward-looking statements about Core Dynamics, including projections about its business and the cell therapy market. These forward-looking statements are not guarantees of future performance and actual results could differ.