CYTOMEDIX GAINS ACCESS TO U.S. GOVERNMENT MEDICAL FACILITIES BY ADDING THE AUTOLOGEL™ SYSTEM TO THE FEDERAL SUPPLY SCHEDULE
Rockville, MD, May 5, 2008 – Cytomedix, Inc. (AMEX: GTF), today announced that it has successfully added the new AutoloGel™ System, indicated for use in wound management to the Federal Supply Schedule (FSS). This contract modification allows The AutoloGel System to be sold to all FSS eligible purchasers, including the Veterans Administration (VA) Healthcare System, Indian Health Services, and Veteran (Nursing) Homes. The modification is effective as of May 1, 2008 and is added to the existing Cytomedix FSS contract (V797P-4001b), issued by the VA National Acquisition Center in effect through March 14, 2012.
Since its introduction in the first quarter of 2008, the AutoloGel System has generated the interest of early adopters in the target markets of Long Term Acute Care Hospitals (LTACH) and VA Medical Centers. “The inclusion of The AutoloGel System on our FSS contract completes an important step toward broader access to our technology by clinicians who treat chronic wounds,” said Martin Rosendale, Chief Operating Officer of Cytomedix, Inc.
The VA Healthcare System represents approximately 10% of the U.S. Healthcare market. The VA, which operates independently of Medicare reimbursement, must adhere to its own budgeting processes for purchases of FSS listed products. By having its product listed on the FSS, Cytomedix has facilitated the selling cycle and ease of purchasing the AutoloGel System. “The sales process in the VA System can be complex and time consuming. Fortunately, Cytomedix has been actively developing clinical advocates within the VA who will be conducive to moving the AutoloGel System through new product committees,” said Mr. Rosendale.
“We look forward to building our relationship with government agencies that purchase from the FSS,” stated Dr. Kshitij Mohan, Chairman and CEO of Cytomedix, Inc. “Our participation in this contract is a key part of our strategy for the successful launch of the AutoloGel System, and provides an excellent vehicle for gaining broad use of this unique wound management system utilizing platelet rich plasma (PRP) gel for use in a wide variety of exuding wounds, including diabetic ulcers, leg ulcers, pressure ulcers and other surgically or mechanically debrided wounds.”
Cytomedix, Inc. is a biotechnology company specializing in processes and products derived from autologous platelet releasates for use on wounds and other applications. The current offering is the AutoloGel™ System, a process that utilizes an autologous platelet gel composed of multiple growth factors, other platelet releasates, and fibrin matrix. Additional information regarding Cytomedix is available at: http://www.cytomedix.com.
SAFE HARBOR STATEMENT
Statements contained in this press release 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 success of new sales initiatives, governmental regulation, acceptance by the medical community, competition, and its ability to generate any sales of its system as a result of the FSS listing. This listing of the AutoloGel System on the FSS is not a contract or assurance from any government agency to buy the AutoloGel System and it may or may not increase the sale of this system to the agencies of the Federal Government.
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. 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.