OLDSMAR, Fla., Oct. 1, 2009 (GLOBE NEWSWIRE) -- Cryo-Cell International, Inc. (OTCBB:CCEL) ("Company"), one of the largest and most established leaders in stem cell innovation today announced that it has signed an exclusive distribution agreement with its Chinese partner, S-Evans Biosciences, Inc. (SEB), a privately-held stem cell and genomics technology company for the distribution of C'elle menstrual stem cell technology in Thailand. The agreement will allow SEB to market and sell proprietary C'elle menstrual stem cell service exclusively throughout Thailand. C'elle specimens collected from clients in Thailand will be shipped to SEB's laboratory in Hangzhou, China for processing and storage. The distribution agreement is anticipated to provide Cryo-Cell with future royalties from the processing and annual storage of C'elle service sold in Thailand, in addition to royalties expected from the previously announced exclusive license agreement established with SEB for C'elle in mainland China. The Thailand agreement provides SEB with the option to obtain a license for proprietary C'elle technology should they decide to establish a future laboratory operation in the country.
In a related development, the Company also announced the execution of a strategic research collaboration agreement with SEB that utilizes proprietary C'elle menstrual stem cell technology for the pre-clinical study of type 1 diabetes. In addition, SEB will initiate research to study the global gene expression of C'elle menstrual stem cells in order to gain unique insights on cell development and differentiation mechanisms. SEB anticipates that this particular study may potentially provide expansive data that may contribute to the possible development of novel therapies that utilize C'elle menstrual stem cells to treat a broad range of diseases.
There has been a significant surge of progress throughout Southeast Asia associated with the emergence of the biotechnology sector, including stem cell research and experimental stem cell therapies. In recent years, concerted efforts began in Thailand to promote its life sciences industry, as observed in a small but rapidly increasing component of the country's booming medical tourism sector. Thailand's proactive stance may reflect the growing demand for biotechnology and stem cell research throughout Asia. Countries such as China, India, Malaysia and Singapore are among those competing for global position in the rapidly evolving stem cell industry.
"We are very excited about the prospect of distributing C'elle in Thailand and we believe that this opportunity is potentially quite significant," stated Dr. Charlie Xiang, CEO of S-Evans Biosciences. "The C'elle menstrual stem cell has many unique qualities that include both adult mesenchymal and embryonic stem cell markers which may position this proprietary technology as a compelling potential source for regenerative medicine and for future stem cell therapies. The launch of our research collaboration with Cryo-Cell underscores SEB's commitment to development of this highly differentiated stem cell technology to potentially treat a broad range of disease."
Stem cell science is in early stages of development in Thailand. In recent years, government initiatives have focused on public education and development of policy and regulation to support and encourage growth of the country's biotechnology sector. The Thailand National Biotechnology Policy Framework 2004-2009, for example, was established by legislators in late 2003 to promote biotechnology investment and create new bio companies.
"We are very pleased to broaden Cryo-Cell's partnership with SEB through their expanded distribution network of C'elle menstrual stem cell technology in Thailand, in addition to the launch of our strategic research collaboration initiatives for pre-clinical study of diabetes and the genomic analysis of this uniquely differentiated stem cell," stated Mercedes A. Walton, Cryo-Cell's Chairman and CEO.
The C'elle service is based on Cryo-Cell's expansive IP technology portfolio and was introduced in November, 2007 as the first and only service that empowers women to collect and cryopreserve menstrual flow containing undifferentiated adult stem cells for future potential utilization by the donor or possibly first-degree relatives in a manner similar to umbilical cord blood stem cells. Based on the continued success of MenSCs in the research setting, Cryo-Cell is seeking to actively expand global C'elle technology licensing, in addition to building its portfolio of research collaborations with world renowned scientists committed to study this novel stem cell population for a broad range of regenerative therapeutic development.
About S-Evans Biosciences
Privately-held company (SEB) was registered in 2009 in Hangzhou, Zhejiang Province, People's Republic of China. Invested by the Pele Group www.pele.net.cn, SEB collaborates with ZCNI, Zhejiang University and affiliated hospitals. Products and services: processing and storage of menstrual stem cells; stem cell therapy; gene testing and disease diagnosis (gene chips, high throughput sequencing and standard molecular technologies). For more information,visit www.sebio.net.cn; or contact: cxiang@zju.edu.cn.
About C'elle
The C'elleSM service was introduced in November 2007 as the first and only service that empowers women to collect and cryopreserve menstrual flow containing undifferentiated adult stem cells for future utilization by the donor or possibly their first-degree relatives in a manner similar to umbilical cord blood stem cells. For more information, visit www.celle.com.
About Cryo-Cell International, Inc. (OTCBB:CCEL)
Based in Oldsmar, Florida, with nearly 185,000 clients worldwide, Cryo-Cell is one of the largest and most established family cord blood banks. ISO 9001:2000 certified and accredited by the AABB, Cryo-Cell operates in a state-of-the-art Good Manufacturing Practice and Good Tissue Practice (cGMP/cGTP)-compliant facility. Cryo-Cell is a publicly traded company. OTC Bulletin Board Symbol: CCEL. For more information, please call 1-800-STOR-CELL (1-800-786-7235) or visit www.cryo-cell.com.
Forward-Looking Statement
Statements wherein the terms "believes", "intends", "projects" or "expects" as used are intended to reflect "forward-looking statements" of the Company. The information contained herein is subject to various risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such forward-looking statements or paragraphs, many of which are outside the control of the Company. These uncertainties and other factors include the uncertainty of market acceptance of any potential service offerings relating to types of stem cells other than cord blood stem cells, including the C'elle service, given that menstrual stem cells and other new stem cells have not yet been used in human therapies, and treatment applications using such stem cells may not be developed and commercialized; or if they are not likely to be developed or commercialized for many years and are subject to further research and development; the need for additional development and testing before determining the ultimate commercial value of the Company's intellectual property relating to the menstrual stem cells; the need to complete certain developments, including completion of clinical validation and testing, before any new process other than C'elle can be commercialized, and the Company's development of its final business and economic model in offering any such service; any adverse effect or limitations caused by recent increases in government regulation of stem cell storage facilities; any increased competition in our business; any decrease or slowdown in the number of people seeking to store stem cells or decrease in the number of people paying annual storage fees; any technological breakthrough or medical breakthrough that would render the Company's business of stem cell preservation obsolete; and any other risk factors described in our filing with the Securities and Exchange Commission. The foregoing list is not exhaustive, and the Company disclaims any obligations to subsequently revise any forward-looking statements to reflect events or circumstances after the date of such statements. Readers should also carefully review the risk factors described in other documents the Company files from time to time with the Securities and Exchange Commission, including the most recent Annual Report on Form 10-KSB, Quarterly Reports on Form 10-QSB and any Current Reports on Form 8-K filed by the Company.