GAITHERSBURG, Md., March 17, 2011 (GLOBE NEWSWIRE) -- Cytomedix, Inc. (OTCBB:CMXI) (the "Company" or "Cytomedix"), a leading developer of biologically active regenerative therapies for wound care and tissue repair, today announced that it has received the Notice of Allowance from the United States Patent and Trademark Office (USPTO) for its patent application for the newly-designed AutoloGel™ Separation System. The original provisional patent application was filed as a result of a product development collaboration between Cytomedix and biomechanical engineers in Israel intended to fundamentally redesign the AutoloGel System. The redesign includes proprietary elements that enable a safer and significantly more rapid point-of-care procedure for the physical separation of platelets and plasma from whole blood.
"The Notice of Allowance for the patent covering our new separation device is an important step in the development of our proposed new AutoloGel System, as the proprietary new system provides competitive advantages that will now have intellectual property protection. The new separation device provides the added convenience and effectiveness that treating clinicians are looking for at the point of care. Importantly, the new device will allow the whole blood collection and the separation of the platelet rich plasma to be accomplished with a single specially-designed syringe system which maintains a closed environment, thus improving the safety and the ease of use," commented Martin P. Rosendale, Cytomedix's Chief Executive Officer.
"We remain on track for the filing of a 510(k) application with the U.S. FDA within the next few months. Today, we are completing the process and sterility validation studies, as well as the final biocompatibility studies necessary to complete the 510(k) application. We look forward to bringing this significant advancement to our customers later this year with an expectation that the newly-designed system can meaningfully impact increased interest and adoption of AutoloGel," continued Mr. Rosendale.
About Cytomedix, Inc.
Cytomedix develops, sells and licenses regenerative biological therapies primarily for wound care, inflammation and angiogenesis. The Company markets the AutoloGel™ System, a device for the production of platelet rich plasma (PRP) gel derived from the patient's own blood for use on a variety of exuding wounds; 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; and the activAT® Autologous Thrombin Processing Kit, which produces autologous thrombin serum from PPP. The activAT® kit is sold exclusively in Europe and Canada, where it provides a completely autologous, safe alternative to bovine-derived products. The Company is pursuing a multi-faceted strategy to penetrate the chronic wound market with its products, as well as opportunities for the application of AutoloGel™ and PRP technology into other markets such as hair transplantation and orthopedics while actively seeking complementary products for the wound care market. Cytomedix also seeks to monetize other product candidates in its pipeline through strategic partnerships, out-licensing or sale. Most notably is its anti-inflammatory peptide (designated CT-112) that has shown promise in preclinical testing. Additional information regarding Cytomedix is available at .
Safe Harbor Statement
Statements contained in this communication not relating to historical facts are forward-looking statements that are intended to fall within the safe harbor rule for such statements under the Private Securities Litigation Reform Act of 1995. Such statements contained in this release are based on management's exercise of business judgment as well as assumptions made by and information currently available to management. When used in this document, the words "may", "will", "anticipate", "believe", "estimate", "expect", "intend", and words of similar import, are intended to identify any forward-looking statements. The information contained in the forward-looking statements is inherently uncertain, and Cytomedix's actual results may differ materially due to a number of factors, many of which are beyond Cytomedix's ability to predict or control, including among others, our ability to complete and file its amended and restated reports for the affected fiscal periods, maintain listing of our securities on the NYSE Amex, viability and effectiveness of our sales approach and overall marketing strategies, the outcome of development or regulatory review of CT- 112, commercial success or acceptance by the medical community, competitive responses, our ability to raise additional capital and to continue as a going concern, our ability to execute on our strategy to market the AutoloGel™ System as contemplated, our ability to successfully integrate the Angel® and activAT® product lines into our existing business, to assume and satisfy certain liabilities related to the Angel® and activAT® product lines, or our ability to service the deferred payments related to the acquisition of the Angel® and activAT® product lines. These forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual events to differ from the forward-looking statements. More information about some of these risks and uncertainties may be found in the reports filed with the Securities and Exchange Commission by Cytomedix, Inc. Cytomedix operates in a highly competitive and rapidly changing business and regulatory environment, thus new or unforeseen risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. Except as is expressly required by the federal securities laws, Cytomedix undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.
CONTACT: Cytomedix, Inc. David Jorden, Executive Board Member Martin Rosendale, CEO Andrew Maslan, CFO (240) 499-2680 Lippert/Heilshorn & Associates Anne Marie Fields (afields@lhai.com) (212) 838-3777 Bruce Voss (bvoss@lhai.com) (310) 691-7100