American CryoStem Corporation (CRYO) a New Jersey-based developer, marketer and global licensor of patented adipose tissue-based cellular technologies for the Regenerative and Personalized Medicine industries, has expanded its global footprint of its cellular technology and laboratory processing platform by entering into an agreement to license its ATGRAFT adipose tissue (fat) processing and storage technologies with Cell Source (CS), a Japan-based corporation.
The financial terms call for an upfront licensing fee, annual minimum licensing payments and the purchase of CRYO's ACSelerate non-DMSO cryogenic tissue storage media and Cellect tissue collection kit and other required consumables for sample processing.Upon execution, CRYO received the first year annual licensing fee. "We are pleased to announce another international licensing agreement for our ATGRAFT tissue storage platform. This agreement will be the second licensing agreement and the third laboratory facility utilizing CRYO's technology in the Asian market.
This license furthers our corporate mission to establish a global network of laboratories operating under a standardized platform and utilizing our consumables for processing," commented John Arnone, CEO of American CryoStem. John Arnone further commented, "Working in the Japanese market presents an exciting opportunity for our technology to provide the foundational tissue processing and cryopreservation support platform required for the advancement of their rapidly expanding Regenerative Medicine and Cell Therapy market.
This phase 1 licensing agreement covers the collection, processing and storage of adipose tissue, allowing our partners to grow and establish a presence in the market with the opportunity to take advantage of our full multi-phase stem cell expansion and differentiation platform in the future." Masato Tsumamoto, COO of Cell Source, commented, "The technology provided by American CryoStem serves as the initial step towards establishing our Company as the premier provider of high quality collected, processed and cryopreserved adipose tissue for aesthetic procedures and future therapeutic uses.
The promise of utilizing stored tissue for long term fat grafting procedures in our clinics along with the ability to process the components of stored tissue for Regenerative Medicine uses in the future is a limitless opportunity." "American CryoStem's entry into the Japanese market represents an extension of the Company's ongoing licensing and product distribution efforts into new markets. As the Japanese regenerative market continues to grow under its new regulatory guidelines, we expect increasing distribution of our products and services generating increased product sales in the new territory. Japan is a wonderful addition to our international sales and distribution strategy as we expand our global licensee and affiliate programs," stated Anthony Dudzinski, COO of American CryoStem.