American CryoStem Enters Into Definitive Term Sheet With Health Innovative Technology Corporation Limited
02 Julio 2014 - 7:30AM
American CryoStem Corporation (OTCQB:CRYO), a
leading strategic developer, marketer and global licensor of
patented adipose tissue-based cellular technologies for the
Regenerative and Personalized Medicine industries, today announced
that it has made a major step in establishing a global footprint
for its cellular technology and laboratory processing platform by
entering into an agreement to license its ATGRAFT™ adipose tissue
(fat) processing and storage technologies with Health Innovative
Technology Corporation Limited (HIT), a Hong Kong corporation. HIT
currently operates a cellular processing and banking platform and a
chain of medical centers, offering comprehensive healthcare
solutions to clients in Hong Kong.
American CryoStem has licensed to HIT the exclusive rights to
utilize the Company's Standard Operating Procedures (SOP's) to
create and market the Company's ATGRAFT™ tissue storage service in
Hong Kong. The financial terms call for annual minimum licensing
payments as well as additional royalty payments based on gross
revenue. HIT will also purchase CRYO's ACSelerate™ storage media
and other products necessary for clinical collection, processing
and storage of Adipose Tissue. Upon execution CRYO received the
initial payment of the minimum annual licensing fee with the
balance of first year licensing payments due prior to full
commercial launch of the ATGRAFT™ service in Hong Kong. The formal
licensing agreement is scheduled for finalization within 90
days.
"We are pleased to announced this international licensing
transaction with Health Innovative Technologies and look forward to
working closely with HIT's scientific team in Hong Kong to
integrate our tissue storage and processing platform into their
existing laboratory services," commented John Arnone, CEO of
American CryoStem. Mr. Arnone continued, "We believe our Adipose
Tissue platform will be the foundation for establishing licensed
laboratory facilities for future stem cell applications developed
and deployed by CRYO and others globally. HIT's current platform of
anti-aging and cosmetic healthcare services makes ATGRAFT™ an
excellent addition to their list of services."
Mr. Kenneth Chan, Chairman of HIT commented, "We have been a
long term admirer of American CryoStem's Adipose Tissue research
since visiting their laboratory facility in the U.S. We believe
their validated tissue processing and storage protocol will create
a natural alternative to artificial fillers in the Asian
marketplace. Creating an inventory of stored fat tissue for
patients to use will greatly increase patient retention and loyalty
to their physician, thus, allowing a sustainable business model.
Historically, the Hong Kong and greater China marketplace follows
the US and Europe; in terms of adipose tissue and fat grafting,
this technology gives us great potential to expand our network of
doctors and medical facilities to cryopreserve their patient's
adipose tissue. We believe, that the introduction of American
CryoStem's technology and their ATGRAFT™ product, will create a
tremendous business opportunity for us."
About Health Innovative Technology Corporation
Limited
Health Innovative Technology Corporation Limited (HIT)
(www.healthinnotech.com) is a healthcare platform dedicated to
safeguard the health of people in Greater China. By introducing
various innovative and scientifically proven biomedical
technologies around the world, including stem cell storage and
genome diagnostic services, we believe that the Greater China
region can benefit from the advancements of biomedical technology
through this healthcare platform. In addition, HIT strives to
promote the global development of life science and medical
technology by supporting different research projects around the
globe. We continually look to import cutting-edge life science
technologies to Greater China that may contribute to better health
prevention for everyone. HIT strongly believes this comprehensive
healthcare platform provides the best means to share the latest and
future breakthroughs in biomedical technology, so that each
individual can benefit from these achievements. With our unique
healthcare platform, we envision being healthy and that creating
longevity is no longer a hope, but is within everyone's reach.
About American CryoStem Corporation
A pioneer in the fields of Regenerative and Personalized
Medicine, American CryoStem is a developer, marketer and global
licensor of patented adipose tissue-based cellular technologies and
related proprietary services with a focus on clinical processing,
commercial bio-banking and application development for adipose
(fat) tissue and autologous adipose-derived regenerative cells
(ADRCs). The Company maintains a strategic portfolio of
intellectual property and patent applications that form its Adipose
Tissue Processing Platform, which supports and promotes a growing
pipeline of biologic products and processes, clinical services and
international licensing opportunities. Through its ACS
Laboratories division, the Company operates an FDA registered, cGMP
compliant human tissue processing, cryo-storage, cell culture and
differentiation media development facility in Mount Laurel, New
Jersey. For more information, please visit
www.americancryostem.com and
www.acslaboratories.com.
This press release may contain forward-looking statements,
including information about management's view of American CryoStem
Corporation's ("the Company") future expectations, plans and
prospects. In particular, when used in the preceding
discussion, the words "believes," "expects," "intends," "plans,"
"anticipates," or "may," and similar conditional expressions are
intended to identify forward-looking statements. Any
statements made in this press release other than those of
historical fact, about an action, event or development, are
forward-looking statements. These statements involve known and
unknown risks, uncertainties and other factors, which may cause the
results of the Company, its subsidiaries and concepts to be
materially different than those expressed or implied in such
statements. Unknown or unpredictable factors also could have
material adverse effects on the Company's future results. The
forward-looking statements included in this press release are made
only as of the date hereof. The Company cannot guarantee
future results, levels of activity, performance or
achievements. Accordingly, you should not place undue reliance
on these forward-looking statements. Finally, the Company
undertakes no obligation to update these statements after the date
of this release, except as required by law, and also takes no
obligation to update or correct information prepared by third
parties that are not paid for by American CryoStem Corporation.
CONTACT: FOR MORE INFORMATION:
American CryoStem
732-747-1007 or via email at info@americancryostem.com
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