Partnership would bolster AutoloGel System distribution in the U.S. wound care market
QualityStocks would like to highlight Cytomedix, Inc. (OTCBB: CMXI), an autologous regenerative therapies company commercializing and developing innovative platelet and adult stem cell technologies for wound and tissue repair. The company markets the AutoloGel™ System, a device for the production of autologous platelet rich plasma (“PRP”) gel for use on a variety of exuding wounds and the Angel® Whole Blood Separation System, a blood processing device and disposable products used for the separation of whole blood into red cells, platelet poor plasma (“PPP”) and PRP in surgical settings.
In the company’s news yesterday,
Cytomedix said it has extended the exclusivity period regarding an agreement with a Top 20 global pharmaceutical company to negotiate distribution of the AutoloGel System in the United States.
The parties have agreed to extend the exclusivity period until August 30, 2012, and are now in discussions to negotiate the details of a distribution agreement. The companies expect to commence sales when the agreement is finalized, on or before the exclusivity date.
The distribution agreement is expected to strengthen AutoloGel sales and brand awareness, leveraged by the pharmaceutical company’s sales force.
“We look forward to finalizing a distribution arrangement that will allow our potential partner to initiate sales through its dedicated, hospital-based sales force as we bridge towards a broader license agreement,” Martin P. Rosendale, CEO of Cytomedix stated in the press release. “As we await final decisions from Centers for Medicaid & Medicare Services (CMS), this is a positive and logical step toward building a broader relationship. Importantly, such an agreement would provide a means to expand sales and enhance brand awareness for AutoloGel through a significantly larger sales force.”
Rosendale said the potential partnership has provided Cytomedix with $4.5 million in non-refundable exclusivity payments to date. Cytomedix ended the second quarter of 2012 with approximately $8.4 million in cash, including approximately $4.7 million dedicated for clinical trials and related matters.
“We remain well positioned to pursue our strategic goals and opportunities and look forward to continued sales growth in our commercial markets,” concluded Rosendale.
QualityStocks, based in Scottsdale, Arizona, is a free service that collects data from hundreds of Small-Cap and Micro-Cap online Investment Newsletters into one Daily Newsletter Report. QualityStocks is dedicated to assisting emerging public companies with their investor communication efforts and connecting subscribers with companies that have huge potential to succeed in the short and long-term future.
To sign up for The QualityStocks Daily Newsletter, please visit www.QualityStocks.net
Please read FULL disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.net
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.