Cytori receives $1.5 million payment for option to negotiate a therapeutic commercialization

By Lisa Kerner

Erie, Pa., April 26 - Cytori Therapeutics, Inc. received a $1.5 million payment from Olympus Corp. for the exclusive right to negotiate an adipose-derived stem and regenerative cell commercialization collaboration.

The collaboration includes distribution rights to the Celution System and related one-time use cartridges for a specific therapeutic area outside of cardiovascular disease.

Olympus will conduct market research and pilot clinical studies with Cytori over a 12 month to 18 month period using the Celution System, according to a company news release.

The Celution System is designed to isolate and concentrate a high yield of autologous (a patient's own) stem and regenerative cells without the need for cell culture (repeated cell divisions) within one hour.

San Diego-based Cytori discovers and develops proprietary cell-based therapeutics using adult stem and regenerative cells derived from adipose tissue (fat).

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