Cytori Therapeutics, Inc. (NASDAQ:CYTX) has extended the term and modified the focus of its current distribution agreement with GE Healthcare. GE Healthcare's sales rights allow its sales force to sell Cytori technology in the research markets in select European markets and the US. In turn, Cytori has co-exclusive sales rights into the research markets while retaining primary rights to sell into all clinical markets. The term of this agreement has been extended through the end of 2011.
“Cytori's products are a valuable component to GE Healthcare's regenerative medicine product portfolio”
The new terms of the distribution agreement include the following:
- Europe: GE Healthcare and Cytori share co-exclusive Celution® System and StemSource® sales rights to hospitals for research and banking and GE Healthcare will have non-exclusive rights for cosmetic and reconstructive surgery;
- North America: GE Healthcare and Cytori share co-exclusive StemSource® sales rights for research and cell banking;
- Thailand: GE Healthcare and Cytori share co-exclusive Celution® System and StemSource® sales rights for research and cosmetic and reconstructive surgery.
"Cytori's products are a valuable component to GE Healthcare's regenerative medicine product portfolio," said Konstantin Fielder, general manager of Cell Technologies at GE Healthcare Life Sciences. "Continuing our relationship with Cytori reflects our recognition of this emerging field and, in particular the importance of adipose-derived regenerative cells."
This agreement is specific to the Celution® 800 and StemSource® Systems (including next generation equivalent products) for the markets described above. The agreement does not cover any other therapeutic applications or the PureGraftTM System. Select European countries covered by these terms include the U.K., France, Germany, Norway, Finland, Denmark, Sweden, Austria and Switzerland as well as Belgium, the Netherlands and Luxembourg for research and banking only.
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