Veteran Marketing Executive to Lead and Expand Efforts in Regenerative Medicine
GAITHERSBURG, Md. (January 17, 2012) – Cytomedix, Inc. (OTC/BB: CMXI) (the “Company”), a leading developer of biologically active regenerative therapies for wound care, inflammation and angiogenesis, today announced the appointment of Cathryn J. Hope to the newly-created position of Vice President of Marketing.
Ms. Hope is an international marketing executive with over twenty years experience developing and launching new biologic therapies and devices and leading multinational marketing teams to exceed revenue and profit goals. She has a proven track record for driving sales growth in both start-up and established organizations with specialized skills in collaborating with patient foundations for hemophilia, immunodeficiency, pituitary and platelet disorders, and autoimmune neurologic disorders.
Since 2008, Ms. Hope has been an independent biopharmaceutical consultant to a number of biotechnology and pharmaceutical companies, including Cytomedix, where she spearheaded the transition of the Angel® Whole Blood Separation System (the “Angel System”) from the Sorin Group and helped establish the new business in the U.S. and Europe.
“We are delighted to officially welcome Cathryn to the Cytomedix team on a full-time basis. She has been instrumental in the successful transition of our Angel System from the Sorin Group as well as its continued sales growth. Cathryn has demonstrated her expertise as a key opinion leader relationship builder, negotiator and sales strategist. Cathryn’s extensive experience working with blood-based technologies makes her an invaluable member of our team at this important time in the Company’s growth trajectory. We look forward to her continued input as we build and expand our footprint in regenerative medicine.”
From 2005 to 2008, Ms. Hope was Senior Director, Global Commercial Development at Talecris USA, where she led the commercial strategy for the $700+ million immunology franchise which involved marketing Gamunex® (intravenous immunoglobulin), realigning the long range business plan to focus on neuroimmunology and exceeding annual revenue targets. Prior to that, Ms. Hope was Director, Global Strategic Marketing at Bayer Healthcare for the Gamunex product line. From 2000-2004, Ms. Hope was Director of Marketing, USA for CSL Limited where she was involved in the start up of the company’s ZLB Bioplasma U.S. division. At ZLB/CSL USA, Ms. Hope was responsible for launching Carimune® (intravenous immunoglobulin) and RhoPhylac® (RhDIgG) which achieved revenues of $150 million in the first year after establishing ZLB USA. From 1996-2000, Ms. Hope served as Group Product Marketing Manager for CSL Bioplasma in Australia, launching Intragam P (intravenous immunoglobulin) in Australia, New Zealand, Hong Kong, Singapore and Malaysia and was the commercial lead for the fibrin sealant/bandage co-development program with the American Red Cross Blood Services.
Ms. Hope earned a Bachelor of Science in Immunology and a Bachelor of Arts in Marketing, at the University of Melbourne in Australia.
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 autologous platelet rich plasma (“PRP”) gel 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. Additional information regarding Cytomedix is available at www.cytomedix.com.
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. 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, the likelihood of obtaining a positive reimbursement determination by the CMS, the likelihood and the extent of beneficial effect of such determination on CMS costs and care, viability and effectiveness of the Company’s 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, the Company's ability to raise additional capital and to continue as a going concern, Cytomedix's ability to execute on its strategy to market the AutoloGel™ System as contemplated, the Company’s ability to successfully integrate the Angel® and activAT® product lines into its existing business, to assume and satisfy certain liabilities related to the Angel® and activAT® product lines. To the extent that any statements made here are not historical, these statements are essentially forward-looking. The Company uses words and phrases such as “believes", "forecasted," "projects," "is expected," "remain confident," "will" and/or similar expressions to identify forward-looking statements in this press release. Undue reliance should not be placed on forward-looking information. 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. Additional risks that could affect our future operating results are more fully described in our U.S. Securities and Exchange Commission filings, including our Annual Report for the year ended December 31, 2010, filed with the SEC and other subsequent filings. These filings are available at http://www.sec.gov.
Contacts:
Cytomedix, Inc. LHA
David Jorden, Executive Board Member Anne Marie Fields
Martin Rosendale, CEO (afields@lhai.com)
Andrew Maslan, CFO (212) 838-3777
(240) 499-2680
Bruce Voss
(bvoss@lhai.com)
(310) 691-7100
Eligible for Additional $2.50 Million Non-Refundable Option Fee
GAITHERSBURG, Md. (January 3, 2012) – Cytomedix, Inc. (OTC/BB: CMXI) (the “Company”), a leading developer of biologically active regenerative therapies for wound care, inflammation and angiogenesis, announced today the short term extension of the exclusive option period under the previously announced letter agreement first disclosed on October 14, 2011. The Company and a top 20 global pharmaceutical company are continuing discussions on commercialization options and opportunities in the chronic wound care market. The original option agreement contemplated the possibility of an extension period of up to six months in exchange for a further non-refundable option fee. In conjunction with the short term extension of the option announced today, Cytomedix will receive an additional $2.50 million non-refundable option fee upon the potential partner’s favorable determination to proceed which is required by February 3, 2012.
The parties are discussing an exclusive license and supply agreement whereby the AutoloGel System would be distributed through a dedicated, hospital-based sales force. The parties expect that a final agreement, which is subject to remaining negotiations, could be finalized as early as March 2012, should the pharmaceutical company potential partner choose to proceed by February 3, 2012. The agreement is expected to incorporate a modest upfront license payment, a product development milestone payment related to the second generation AutoloGel device, and a negotiated profit sharing arrangement on futureU.S.based sales of the AutoloGel System in the chronic wound care market.
“We are pleased to extend a short term extension to the option period and continue our positive interaction with a potential distribution partner for the AutoloGel System in the chronic wound care market. We believe a dedicated hospital-based sales force can attractively position AutoloGel for broad commercial success in an appropriate reimbursement environment,” said Martin P. Rosendale, Chief Executive Officer of Cytomedix. “Over the past several months, the two parties have worked closely to jointly define the substantial market opportunity for AutoloGel in the broadly underserved chronic wound care market and we appreciate their need to work internally during the month of January to finalize their process and gather certain necessary approvals. We look forward to arriving at a positive and final diligence determination by early February and to positioning AutoloGel as an appropriate treatment option for clinicians seeking effective therapies for patients contending with non healing chronic wounds.
“With regard to reimbursement and Medicare coverage of AutoloGel, we were gratified to observe the overwhelmingly positive and supportive comments submitted during the recent public comment period and look forward to meeting directly with CMS during the review period to comprehensively present the rationale for Medicare coverage for autologous PRP gel in advance of the proposed decision memo due in May 2012,” added 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 autologous platelet rich plasma (“PRP”) gel 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. Additional information regarding Cytomedix is available at www.cytomedix.com.
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. 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, the successful negotiation and execution of the exclusive license and supply agreement during the exclusivity period. To the extent that any statements made here are not historical, these statements are essentially forward-looking. The Company uses words and phrases such as “believes", "forecasted," "projects," "is expected," "remain confident," "will" and/or similar expressions to identify forward-looking statements in this press release. Undue reliance should not be placed on forward-looking information. 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. Additional risks that could affect our future operating results are more fully described in our U.S. Securities and Exchange Commission filings, including our Annual Report for the year ended December 31, 2010, filed with the SEC and other subsequent filings. These filings are available at http://www.sec.gov.
Contacts:
Cytomedix, Inc. LHA
David Jorden, Executive Board Member Anne Marie Fields
Martin Rosendale, CEO (afields@lhai.com)
Andrew Maslan, CFO (212) 838-3777
(240) 499-2680
Bruce Voss
(bvoss@lhai.com)
(310) 691-7100