American CryoStem Announces Acquisition of BioLife Cell Bank
Eatontown, NJ – April 20, 2015 — American CryoStem Corporation (OTCQB: CRYO), a leading strategic developer, marketer and global licensor of patented adipose tissue-based cellular technologies for the Regenerative and Personalized Medicine industries, today announced the acquisition of Biolife Cell Bank’s (Biolife) adipose tissue and adipose derived stem cell banking services assets.
Located in Dallas, Texas, Biolife Cell Bank operated one of the first and largest tissue and adult stem cell banks in the United States serving U.S. based cosmetic and plastic surgeons, as well as medicinal and therapeutic usages.
Under the Terms of the agreement American CryoStem will acquire certain assets of BioLife including its customer base, physician network, specific laboratory equipment and all stored biologic samples.
John Arnone, CEO of American CryoStem stated, “This acquisition further strengthens our position in the Regenerative Medicine market as a leading provider of tissue and stem cell based processing and storages services. With the acquisition of BioLife’s assets we are able to further expand our tissue and stem cell banking services, physicians network and increase our recurring storage revenue stream”.
David Genecov, MD of BioLife commented, “We are pleased that we were able to enter into this transaction with the leading adipose tissue storage company in the U.S. American CryoStem’s patent pending collection, processing and cryopreservation technology is cutting edge and will provide our physician and storage customers with the highest quality services and expanded future opportunities for unique usage of their stored samples in Regenerative Medicine applications.
CRYO is currently integrating BioLife’s customer base, and physician network into its New Jersey based FDA registered laboratory and storage facility. CRYO expects to complete the integration by the end of the second quarter of 2015.
About American CryoStem Corporation
Founded in 2008, American CryoStem is a biotechnology pioneer, standardizing adipose tissue derived technologies for the fields of Regenerative and Personalized Medicine. The Company has developed Standard Operating Procedures (SOPs) to operate a state-of-art, FDA-registered, clinical laboratory dedicated to the collection, processing, bio-banking, culturing and differentiation of autologous adipose tissue (fat) and adipose derived stem cells (ADSCs). Leveraging platform technologies with 5+ developed products the Company is creating a global footprint of licensed laboratory affiliates and physicians networks to deliver current and future cellular applications.
The Company maintains a strategic portfolio of intellectual property that forms its standardized platform which supports a growing pipeline of stem cell applications and biologic products. The Company’s R&D efforts are focused on university and private collaborations to discover, develop and commercialize ADSC products by combining its platform with synergistic technologies to create jointly developed applications and intellectual property.
For more information, please visit: www.americancryostem.com www.acslaboratories.com and www.personalcellsciences.com
This press release may contain forward-looking statements, including information about management’s view of American CryoStem Corporation’s (“the Company”) future expectations, plans and prospects. In particular, when used in the preceding discussion, the words “believes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this press release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of the Company, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on the Company’s future results. The forward-looking statements included in this press release are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, the Company undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by American CryoStem Corporation.
