MIAMI, February 25, 2021 / PRNewswire-PRWeb / – Cryo-Cell plans to explore, test and administer these treatments to patients with conditions for which limited FDA approved therapies exist, including cerebral palsy, autism, multiple sclerosis and COVID-19. These treatments use the unique potential immunomodulatory and regenerative properties derived from umbilical cord blood and tissue.
Under the agreement, Cryo-Cell obtained exclusive commercial rights to Duke intellectual property assets, FDA regulatory data, clinical experience and manufacturing protocols associated with various applications of cord blood and cord tissue stem cells.
Through this agreement, Cryo-Cell intends to expand into a triad of core business units:
1.) your renowned umbilical cord blood bank,
2.) biopharmaceutical manufacturing (once BLA (s) or Emergency Use Authorization (s) are approved by the FDA), and
3.) infusion clinic (s) services, initially under the rights granted to Duke through the FDA’s Expanded Access Program.
David Portnoy, Chairman of the Board and Co-CEO, stated: “We have enormous respect for Dr. Joanne Kurtzberg and his scientific team at the Marcus Center for Cellular Cures in Duke University, which is internationally recognized as the leading clinical and research center using umbilical cord blood and tissue cells for immunomodulatory and regenerative medicine applications. Dr. Kurtzberg is conducting clinical trials under FDA INDs to treat patients with indications such as autism, cerebral palsy, stroke in adults, multiple sclerosis and COVID-19. “
Mr. Portnoy continued: “This is a major step in our growth at Cryo-Cell and we believe it will be a giant leap for patients with unmet medical needs waiting for treatment. Since 2011, Cryo-Cell’s mission statement has included the goal of advancing regenerative medicine. Now, we will be able to truly fulfill our vision. “
“We are extremely excited to be entering into this agreement with Cryo-Cell. This will allow us to work together to take the next steps to further develop and bring these new therapies to patients in need.” said Joanne Kurtzberg, MD, who is the distinguished professor of pediatrics at Jerome S. Harris and a pioneer in cell therapies based on umbilical cord blood. Dr. Joanne Kurtzberg is an internationally renowned specialist in pediatric hematology / oncology, pediatric bone marrow and blood transplantation, cord blood bank and transplantation and new applications of cord blood in the emerging fields of cell therapies and regenerative medicine.
As a result of this partnership with Duke University, Cryo-Cell’s Board of Directors is actively considering increasing the company’s common shares to a NASDAQ listing.
About Cryo-Cell International, Inc.
Founded in 1989, Cryo-Cell International, Inc. is the first private umbilical cord blood bank. More than 500,000 parents in 87 countries have entrusted their babies ‘cord blood and stem cells to their babies’ cord blood with Cryo-Cell International. In addition to its family bank, Cryo-Cell International has a public bank program in partnership with Duke University. Did the public bank at Cryo-Cell provide cord blood for more than 600 transplants and operate cord blood donation sites in the US at major hospitals, such as Cedars Hospital? Sinai in Los Angeles and Batista Hospital in Miami. Cryo-Cell’s mission is to provide customers with cutting-edge cord blood and cord tissue cryopreservation services, raise awareness of the opportunity for pregnant parents to deposit or donate cord blood, and support the advancement of regenerative medicine . Cryo-Cell operates in an FDA-registered facility, compatible with cGMP- / cGTP and licensed in all states requiring a license. In addition to being accredited by the AABB as an umbilical cord blood facility, Cryo-Cell was also the first US cord blood bank (for private use only) to receive FACT accreditation for adhering to the most stringent quality standards in the cord blood defined by any independent and internationally recognized accreditation organization. Cryo-Cell is a publicly traded company, OTCQB: CCEL. For more information please visit http://www.cryo-cell.com.
The statements contained herein under the terms “believes”, “intends”, “projects”, “anticipates”, “expects” and similar expressions, as used, are intended to reflect the Company’s “forward-looking statements”. The information contained in this document is subject to various risks, uncertainties and other factors that could cause actual results to differ materially from those anticipated in such forward-looking statements or paragraphs, many of which are beyond the Company’s control. These uncertainties and other factors include the impact of the COVID-19 pandemic on our sales, operations and supply chain, the success of the company’s global expansion and product diversification initiatives, the company’s actual future participation in future therapies emerging from its partnerships collaborative research, the success related to its IP portfolio, the Company’s future competitive position in stem cell innovation, the future success of its core business and the competitive impact of the umbilical cord blood bank on the Company’s business, success of the Company’s initiative to expand its core business units to include biopharmaceutical manufacturing and operating clinics, the uncertainty of profitability of its biopharmaceutical manufacturing and operating clinics, the Company’s ability to minimize future costs to the Company related to R&D and collaboration initiatives and the success of such initiatives and collaborations, the success and applicability of the Co m umbilical cord blood and cord tissue license agreements, along with the associated intellectual property and its ability to provide the Company with royalty fees, and the risks and uncertainties contained in the risk factors described in documents that the Company files from time to time with the Securities and Exchange Commission, including the most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and any Current Reports on Form 8-K filed by the Company. The company disclaims any obligation to subsequently revise any forward-looking statements to reflect events or circumstances after the date of such statements.
David Portnoy, Cryo-Cell International, +1 813-749-2181, Dportnoy@cryo-cell.com
SOURCE Cryo-Cell International
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