Announcement of milestone payment for storing umbilical cord tissue in Serbia and launch in Switzerland
(Thomson Reuters ONE) -
Cryo-Save Group N.V. (Euronext: CRYO, 'Cryo-Save', or 'the Group'), the leading
international family stem cell bank, announced today the milestone payment of
?500,000 as a result of obtaining permission by the competent authorities to
start the collection, processing and storing of umbilical cord tissue in Serbia.
Following the acquisition of a 70% interest in its Serbian distributor, Life
R.F. doo ('Life R.F.') earlier this year, the Group agreed to a milestone
payment of ?500,000 payable to the previous shareholders upon obtaining said
permission.
Furthermore, the Group has recently started to collect, process and store
umbilical cord tissue samples for its Swiss customers. As a result, the Group is
now able to offer the combined service of storing the umbilical cord tissue
and/or stem cells derived from umbilical cord blood in all main countries where
it operates.
Enquiries:
Cryo-Save Group + 31 (0) 575 548 998
Arnoud van Tulder, Chief Executive Officer
SPJ Financiële Communicatie (The Netherlands) +31 (0)20 647 8181
Kees Jongsma/Leon Melens
Daniel Stewart & Company plc (UK) + 44 (0) 20 7776 6550
Christopher Theis
College Hill (UK) + 44 (0) 20 7457 2020
Rozi Morris/ Adrian Duffield
Free footage is available on www.videobankonline.com.
About Cryo-Save (www.cryo-save.com/group)
Cryo-Save, the leading international family stem cell bank, already stores
175,000 samples from cord blood and umbilical cord tissue for newborns and
adipose tissue for adults. These stem cells can mean the difference between life
and death in the case of future threats to the health of the donors. There are
already several diseases that can be cured by the use of stem cells, and the
number of treatments will only increase. Driven by its international business
strategy, Cryo-Save is now represented in 40 countries on three continents, with
ultra-modern processing and storage facilities in Belgium, Germany, Dubai, India
and France (validation in progress).
Click here for PDF press release:
http://hugin.info/143308/R/1516374/452690.pdf
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originality of the information contained therein.
Source: Cryo-Save Group N.V. via Thomson Reuters ONE
[HUG#1516374]
Unternehmensinformation / Kurzprofil:
Datum: 17.05.2011 - 07:00 Uhr
Sprache: Deutsch
News-ID 54723
Anzahl Zeichen: 3052
contact information:
Town:
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Kategorie:
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Die Pressemitteilung mit dem Titel:
"Announcement of milestone payment for storing umbilical cord tissue in Serbia and launch in Switzerland"
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