HONOLULU, Nov. 7 Tissue Genesis, Inc. announced anexclusive distribution and licensing agreement for the human spine market withSpineSmith Partners, LP (Austin, Texas). Tissue Genesis will shareSpineSmith's revenues from procedures and sales using Tissue Genesis'therapeutic cell technologies, and expects in the future to receive revenuefrom sales to SpineSmith of TGI 1000(TM) cell isolation systems anddisposables, over the four year term of the agreement. Additionally,SpineSmith has been granted the rights to manufacture, use and sell TGI100(TM) manual cell isolation kits, incorporating Tissue Genesis suppliedAdipase(TM) enzyme solution.
"This exciting new relationship with SpineSmith allows Tissue Genesis tomove our therapeutic cell technologies into orthopedic markets," said Anton C.Krucky, President and CEO of Tissue Genesis. "SpineSmith's extensive expertisewith bone marrow stem cells, in both cell isolation and medical insurancereimbursement, provides a clear avenue of advancement of our adipose (fat)derived stem cells into this important market."
"SpineSmith has been involved in the treatment of spine injuries for overtwo years, having provided bone marrow derived, autologous (the patient's own)stem cells to over three thousand patients," said Kevin Dunworth, founder ofSpineSmith. "We believe stem cells to be the next frontier in spine surgeryand the Tissue Genesis cell isolation system rapidly processes a smallquantity of a patient's own fat tissue to produce large quantities of cells,including adult stem cells and microvascular cells."
Tissue Genesis, Inc.
Tissue Genesis, Inc. (http://www.tissuegenesis.com) is a Qualified HighTechnology Business (QHTB) in Honolulu, Hawaii that is seeking to developinnovative tissue engineering solutions and technology to address a range oftherapeutic areas including vascular, cardiovascular, orthopedic andveterinarian. The company expects its technology to isolate autologousadipose derived cells in less than two hours for delivery of the cells atpoint-of-care for immediate patient needs.
SpineSmith Partners, LP
SpineSmith Partners, LP (http://www.spinesmithusa.com) designs, developsand markets implants and biologics for surgical fixation, correction andtissue regeneration of the spine. SpineSmith takes a different approach fromother companies, utilizing a collaborative approach between scientists,engineers and spine surgeons. SpineSmith's unique, think-tank approach givesspine surgeons the ability to directly impact the direction of its productportfolio, ensuring applicability and achieving the highest standards ofpatient care.
Safe Harbor Statement
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and theSecurities Exchange Act of 1934, as amended by the Private SecuritiesLitigation Reform Act of 1995. Those statements include statements regardingthe intent, belief or current expectations of Tissue Genesis, Inc., andmembers of its management as well as the assumptions on which such statementsare based. There can be no assurance that Tissue Genesis will be able tocommercially develop its therapeutic cell technology or products, thatnecessary regulatory approvals will be obtained, that any clinical trials willbe successful, or that the proposed treatments will prove to be safe and/oreffective. Prospective investors are cautioned that any such forward-lookingstatements are not guarantees of future performance and involve risks anduncertainties, and that actual results may differ materially from thosecontemplated by such forward-looking statements. Important factors currentlyknown to management that could cause actual results to differ materially fromthose in forward-statements include fluctuation of operating results, theability to compete successfully and the abil